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Georgia State Code
Title      11
Chapter       3  
Section Navigation   101 ... 110       111 ... 201   
     202 ... 304       305 ... 402   
   403 ... 412       413 ... 502   
   503 ... 605     
Section<<< 202 203 204 205 206 207 301 302 303 304 >>>  
Title 11, Chapter 3, Section 202 (11-3-202)
Negotiation subject to rescission.

(a) Negotiation is effective even if obtained (i) from an infant, a corporation exceeding its powers, or a person without capacity; (ii) by fraud, duress, or mistake; or (iii) in breach of duty or as part of an illegal transaction.

(b) To the extent permitted by other law, negotiation may be rescinded or may be subject to other remedies, but those remedies may not be asserted against a subsequent holder in due course or a person paying the instrument in good faith and without knowledge of facts that are a basis for rescission or other remedy.

Saturday May 23 16:24 EDT


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