Colorado § 38-13-1005 Evidence of unpaid debt or undischarged obligation

Colorado Statutes

§ 38-13-1005 — Evidence of unpaid debt or undischarged obligation

Colorado·Title 38 Property -·Art. Revised Uniform Unclaimed Property Act

(1)A record of a putative holder showing an unpaid debt or undischarged obligation is prima facie evidence of the debt or obligation.

(2)A putative holder may establish by a preponderance of the evidence that there is no unpaid debt or undischarged obligation for a debt or obligation described in subsection (1) of this section or that the debt or obligation was not, or no longer is, a fixed and certain obligation of the putative holder.

(3)A putative holder may overcome prima facie evidence under subsection

(1)of this section by establishing by a preponderance of the evidence that a check, draft, or similar instrument was:

(a)Issued as an unaccepted offer in settlement of an unliquidated amount;

(b)Issued but later was replaced with another instrument because the earlier

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(1) A
record of a putative holder showing an unpaid debt or undischarged obligation is
prima facie evidence of the debt or obligation.

(2) A putative holder may establish by a preponderance of the evidence that
there is no unpaid debt or undischarged obligation for a debt or obligation
described in subsection (1) of this section or that the debt or obligation was not, or
no longer is, a fixed and certain obligation of the putative holder.

(3) A putative holder may overcome prima facie evidence under subsection
(1) of this section by establishing by a preponderance of the evidence that a check,
draft, or similar instrument was:

(a) Issued as an unaccepted offer in settlement of an unliquidated amount;

(b) Issued but later was replaced with another instrument because the
earlier instrument was lost or contained an error that was corrected;

(c) Issued to a party affiliated with the issuer;

(d) Paid, satisfied, or discharged;

(e) Issued in error;

(f) Issued without consideration;

(g) Issued but there was a failure of consideration;

(h) Voided not later than ninety days after issuance for a valid business
reason set forth in a contemporaneous record; or

(i) Issued but not delivered to the third-party payee for a sufficient reason
recorded within a reasonable time after issuance.

(4) In asserting a defense under this section, a putative holder may present
evidence of a course of dealing between the putative holder and the apparent
owner or of custom and practice.

Colorado § 38-13-1005 (Evidence of unpaid debt or undischarged obligation) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.