Tenn. Code § 47-3-306
Current through Acts 2023-2024, ch. 966
A person taking an instrument, other than a person having rights of a holder in due course, is subject to a claim of a property or possessory right in the instrument or its proceeds, including a claim to rescind a negotiation and to recover the instrument or its proceeds. A person having rights of a holder in due course takes free of the claim to the instrument.
T.C.A. § 47-3-306