13 GCA § 3208

Reacquisition

Guam Code AnnotatedTitle 13 — Uniform Commercial Code

Where an instrument is returned to or reacquired by a prior party he may cancel any indorsement which is not necessary to his title and reissue or further negotiate the instrument, but any intervening party is discharged as against the reacquiring party and subsequent holders not in due course and if his indorsement has been cancelled is discharged as against subsequent holders in due course as well. ---------CHAPTER 3 RIGHTS OF HOLDER

Reconstructed from the Guam Code Annotated. For the authoritative version, see the official PDF.