Code of Virginia

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Code of Virginia
Title 8.3A. Commercial Code — Negotiable Instruments
Part 2. Negotiation, Transfer, and Endorsement
6/26/2022

§ 8.3A-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 endorsements 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 endorser whose endorsement is canceled is discharged, and the discharge is effective against any subsequent holder.

Code 1950, §§ 6-400, 6-402, 6-474; 1964, c. 219, § 8.3-208; 1992, c. 693.

The chapters of the acts of assembly referenced in the historical citation at the end of this section may not constitute a comprehensive list of such chapters and may exclude chapters whose provisions have expired.