§ 554.3308 — Proof of signatures and status as holder in due course

Iowa § 554.3308

• Jurisdiction: Iowa
• Title XIII: COMMERCE
• Ch. 554: UNIFORM COMMERCIAL CODE

Text

1. 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
theinstrumentisbroughtagainstapersonastheundisclosedprincipalofapersonwhosigned
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 554.3402,
subsection 1.
2. If the validity of signatures is admitted or proved and there is compliance with
subsection 1, a plaintiff producing the instrument is entitled to payment if the plaintiff
proves entitlement to enforce the instrument under section 554.3301, 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.