California Codes
Cal. Commercial Code § 3207 (2026)
Negotiation, Transfer, and Indorsement
✓ current as of May 2026
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Reacquisition of an instrument occurs if it is transferred to a former holder, by negotiation or otherwise. A former holder who reacquires the instrument may cancel indorsements made after the reacquirer first became a holder of the instrument. If the cancellation causes the instrument to be payable to the reacquirer or to bearer, the reacquirer may negotiate the instrument. An indorser whose indorsement is canceled is discharged, and the discharge is effective against any subsequent holder.
Notes of Decisions
Cited in 1
case (1 in the last 5 years), 2025–2025 · leading case: In Re Jeffrey S. Beier (C.D. Cal. 2025).
In Re Jeffrey S. Beier (C.D. Cal. 2025). “(stating, in comment of provision identical to 15 California Commercial Code section 3207, that a former holder can obtain holder 16 status “by striking the former holder’s indorsement and any subsequent 17 indorsements”).”
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