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Can you summarize NVRS 104.3308?
Uniform Commercial CodeOriginal Articles > Proof of signatures and status as holder in due course.
Short Summary
This legal document pertains to an action with respect to an instrument. It establishes that the authenticity and authority of each signature on the instrument is admitted unless specifically denied in the pleadings. The burden of establishing the validity of a signature lies with the person claiming validity, but the signature is presumed to be authentic and authorized unless the action is to enforce the liability of a deceased or incompetent signer. 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. If the validity of signatures is admitted or proved, and there is compliance with the document’s provisions, the plaintiff producing the instrument is entitled to payment if they prove entitlement to enforce the instrument. However, if a defense or claim in recoupment is proved, the plaintiff’s right to payment is subject to the defense or claim, unless 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 penalties are mentioned
Jurisdiction
Nevada