554.3202 Negotiation subject to rescission. 1. Negotiation is effective even if obtained from an infant, a corporation exceeding its powers, or a person without capacity; by fraud, duress, or mistake; or in breach of duty or aspart of an illegal transaction. 2. To the extent permitted by other law, negotiation may be rescinded or may be subject to other remedies, but those remedies may not be asserted against a subsequent holder indue course or a person paying the instrument in good faith and without knowledge of factsthat are a basis for rescission or other remedy. 94 Acts, ch 1167, §30, 121, 122; 2013 Acts, ch 30, §143 Sat Dec 23 01:55:46 2023 Iowa Code 2024, Section 554.3202 (24, 0)
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