§ 4-3-308 — Proof of signatures and status as holder in due course

Colorado § 4-3-308

• Jurisdiction: Colorado
• Title 04: Uniform
• Art.: Negotiable Instruments

Text

(a) In an
action with respect to an instrument, the authenticity of, and authority to make,
each signature on the instrument is admitted unless specifically denied in the
pleadings. If the validity of a signature is denied in the pleadings, the burden of
establishing validity is on the person claiming validity, but the signature is
presumed to be authentic and authorized unless the action is to enforce the liability
of the purported signer and the signer is dead or incompetent at the time of trial of
the issue of validity of the signature. If an action to enforce the instrument is
brought against a person as the undisclosed principal of a person who signed the
instrument as a party to the instrument, the plaintiff has the burden of establishing
that the defendant is liable on the instrument as a represented person under
section 4-3-402 (a).

(b) If the validity of signatures is admitted or proved and there is compliance
with subsection (a) of this section, a plaintiff producing the instrument is entitled to
payment if the plaintiff proves entitlement to enforce the instrument under section
4-3-301, unless the defendant proves a defense or claim in recoupment. If a
defense or claim in recoupment is proved, the right to payment of the plaintiff is
subject to the defense or claim, except to the extent the plaintiff proves that the
plaintiff has rights of a holder in due course which are not subject to the defense or
claim.

Legislative History

Source: L. 94: Entire article R&RE, p. 858, � 1, effective January 1, 1995.