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Can you summarize NHRS 382-A:3-308?
UNIFORM COMMERCIAL CODE > Proof of Signatures and Status as Holder in Due Course.
Short Summary
This legal document, part of the New Hampshire Revised Statutes under the Uniform Commercial Code, addresses the proof of signatures and the status as a holder in due course in relation to instruments. In an action with respect to an instrument, the authenticity and authority of each signature on the instrument are admitted unless specifically denied in the pleadings. The burden of establishing the validity of a signature lies with the person claiming validity. However, signatures are presumed to be authentic and authorized unless the action is to enforce the liability of a purported signer who is deceased or incompetent. If an action is brought against a person as the undisclosed principal of a party who signed the instrument, the plaintiff has the burden of establishing the defendant’s liability as a represented person. If the validity of signatures is admitted or proved, and there is compliance with the requirements, a plaintiff producing the instrument is entitled to payment if they can prove entitlement to enforce the instrument, unless the defendant proves a defense or claim in recoupment. The right to payment of the plaintiff is subject to the defense or claim, except to the extent the plaintiff can prove that they have the rights of a holder in due course, which are not subject to the defense or claim.
Whom does it apply to?
Parties involved in an action with respect to an instrument
What does it govern?
Proof of Signatures and Status as Holder in Due Course
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
No specific penalties are mentioned.
Jurisdiction
New Hampshire