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2018 Georgia Code 11-3-207 | Car Wreck Lawyer

Link to State of Georgia Official Statute 2018 Georgia Code Annotated (sourced from legal.resource.org)

O.C.G.A. 11-3-207 Case Law from Google Scholar Amendments to OCGA 11-3-207

TITLE 11 COMMERCIAL CODE

Section 3. Negotiable Instruments, 11-3-101 through 11-3-605.

ARTICLE 3 NEGOTIABLE INSTRUMENTS

11-3-207. Reacquisition.

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.

(Code 1981, §11-3-207, enacted by Ga. L. 1996, p. 1306, § 3.)

JUDICIAL DECISIONS

Editor's notes.

- In light of the similarity of the provisions, decisions under former Code Section 11-3-208 are included in the annotations for this section.

Intent of section.

- O.C.G.A. § 11-3-601 and this section are intended to eliminate circuity in order of responsibility of endorsers. Columbian Peanut Co. v. Frosteg, 472 F.2d 476 (5th Cir.), cert. denied, 414 U.S. 824, 94 S. Ct. 126, 38 L. Ed. 2d 57 (1973) (decided under former Code Section11-3-208).

RESEARCH REFERENCES

8C Am. Jur. Pleading and Practice Forms, Duress and Undue Influence, § 1.

C.J.S.

- 10 C.J.S., Bills and Notes, §§ 158, 244, 248.

U.L.A.

- Uniform Commercial Code (U.L.A.) § 3-207.

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