A person taking an instrument, other than a person having rights of a holder in due course, is subject to a claim of a property or possessory right in the instrument or its proceeds, including a claim to rescind a negotiation and to recover the instrument or its proceeds. A person having rights of a holder in due course takes free of the claim to the instrument. 94 Acts, ch 1167, 41, 121, 122 Referred to in 554.

This legal document, governed by the Iowa Code under the Uniform Commercial Code, addresses the breach of fiduciary duty. It defines the terms ‘fiduciary’ and ‘represented person’ and outlines the rules that apply when an instrument is taken from a fiduciary for payment or collection. The document states that notice of breach of fiduciary duty by the fiduciary is considered notice of the claim of the represented person. It also specifies the circumstances under which a taker has notice of the breach of fiduciary duty.

This legal document, governed by the Iowa Code under the Uniform Commercial Code, pertains to actions involving instruments. It establishes that 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, but the signature is presumed to be authentic and authorized unless the action is to enforce the liability of a deceased or incompetent signer.

This legal document, found in the Iowa Code under the Commerce section and the Uniform Commercial Code, pertains to the enforcement of lost, destroyed, or stolen instruments. It outlines the conditions under which a person not in possession of an instrument is entitled to enforce it. The person seeking enforcement must have been entitled to enforce the instrument when the loss of possession occurred or have acquired ownership from someone who was entitled to it.

This legal document, part of the Iowa Code’s Uniform Commercial Code, governs the effect of different types of instruments on obligations. If a certified check, cashier’s check, or teller’s check is taken for an obligation, the obligation is discharged to the same extent as if the amount of the instrument were taken in payment. However, the obligor may still have liability as an endorser of the instrument. If a note or an uncertified check is taken, the obligation is suspended until the instrument is dishonored, paid, or certified.

This legal provision, found in the Iowa Code under the Uniform Commercial Code, governs the concept of accord and satisfaction by use of an instrument. It outlines the conditions under which a person against whom a claim is asserted can prove that they tendered an instrument in good faith as full satisfaction of the claim. If the claim amount was unliquidated or subject to a bona fide dispute, and the claimant obtained payment of the instrument, certain subsections apply.

This section of the Iowa Code, specifically under the Uniform Commercial Code, governs the procedures and rights related to lost, destroyed, or stolen cashier’s checks, teller’s checks, or certified checks. It defines key terms such as ‘check’, ‘claimant’, and ‘declaration of loss’. A claimant can assert a claim to the amount of a check by communicating with the obligated bank, providing a declaration of loss, and reasonable identification if requested. The claim becomes enforceable after a certain period of time, and until then, the obligated bank may still pay the check.

1.A person is not liable on an instrument unless the person signed the instrument, or the person is represented by an agent or representative who signed the instrument and the signature is binding on the represented person under section 554.3402. 2.A signature may be made manually or by means of a device or machine, and by the use of any name, including a trade or assumed name, or by a word, mark, or symbol executed or adopted by a person with present intention to authenticate a writing.

This legal document, governed by the Iowa Code under the Uniform Commercial Code, addresses the signature by a representative on an instrument. If a person acting as a representative signs an instrument using either the name of the represented person or their own name, the represented person is bound by the signature to the same extent as if it were a simple contract. The representative’s signature is considered the authorized signature of the represented person, making them liable on the instrument.

1.Unless otherwise provided in this Article or Article 4, an unauthorized signature is ineffective except as the signature of the unauthorized signer in favor of a person who in good faith pays the instrument or takes it for value. An unauthorized signature may be ratified for all purposes of this Article. 2.If the signature of more than one person is required to constitute the authorized signature of an organization, the signature of the organization is unauthorized if one of the required signatures is lacking.