554.3308 Proof of signatures and status as holder in due course. 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. Ifthe validity of a signature is denied in the pleadings, the burden of establishing validity is onthe person claiming validity, but the signature is presumed to be authentic and authorizedunless the action is to enforce the liability of the purported signer and the signer is dead orincompetent at the time of trial of the issue of validity of the signature. If an action to enforcethe instrument is brought against a person as the undisclosed principal of a person who signedthe instrument as a party to the instrument, the plaintiff has the burden of establishing thatthe 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 plaintiffproves entitlement to enforce the instrument under section 554.3301, unless the defendantproves a defense ith subsection 1, a plaintiff producing the instrument is entitled to payment if the plaintiffproves entitlement to enforce the instrument under section 554.3301, unless the defendantproves a defense or claim in recoupment. If a defense or claim in recoupment is proved, theright to payment of the plaintiff is subject to the defense or claim, except to the extent theplaintiff proves that the plaintiff has rights of a holder in due course which are not subjectto the defense or claim. 94 Acts, ch 1167, §43, 122Referred to in §554.3309 Sat Dec 23 01:56:50 2023 Iowa Code 2024, Section 554.3308 (24, 0)
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