8-114 - Evidentiary Rules Concerning Certificated Securitites. - New-york Statutes

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Statutes > New-york > Ucc > Article-8 > Part-1 > 8-114

Section 8--114. Evidentiary Rules Concerning Certificated Securities.    The  following  rules  apply  in  an action on a certificated security  against the issuer:    (1) Unless specifically denied in the pleadings, each signature  on  a  security certificate or in a necessary indorsement is admitted.    (2) If the effectiveness of a signature is put in issue, the burden of  establishing effectiveness is on the party claiming under the signature,  but the signature is presumed to be genuine or authorized.    (3) If   signatures   on   a  security  certificate  are  admitted  or  established, production of the certificate entitles a holder to  recover  on  it  unless  the defendant establishes a defense or a defect going to  the validity of the security.    (4) If it is shown that a defense or defect exists, the plaintiff  has  the  burden of establishing that the plaintiff or some person under whom  the plaintiff claims is a person against  whom  the  defense  or  defect  cannot be asserted.

State Codes and Statutes

Statutes > New-york > Ucc > Article-8 > Part-1 > 8-114

Section 8--114. Evidentiary Rules Concerning Certificated Securities.    The  following  rules  apply  in  an action on a certificated security  against the issuer:    (1) Unless specifically denied in the pleadings, each signature  on  a  security certificate or in a necessary indorsement is admitted.    (2) If the effectiveness of a signature is put in issue, the burden of  establishing effectiveness is on the party claiming under the signature,  but the signature is presumed to be genuine or authorized.    (3) If   signatures   on   a  security  certificate  are  admitted  or  established, production of the certificate entitles a holder to  recover  on  it  unless  the defendant establishes a defense or a defect going to  the validity of the security.    (4) If it is shown that a defense or defect exists, the plaintiff  has  the  burden of establishing that the plaintiff or some person under whom  the plaintiff claims is a person against  whom  the  defense  or  defect  cannot be asserted.

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State Codes and Statutes

Statutes > New-york > Ucc > Article-8 > Part-1 > 8-114

Section 8--114. Evidentiary Rules Concerning Certificated Securities.    The  following  rules  apply  in  an action on a certificated security  against the issuer:    (1) Unless specifically denied in the pleadings, each signature  on  a  security certificate or in a necessary indorsement is admitted.    (2) If the effectiveness of a signature is put in issue, the burden of  establishing effectiveness is on the party claiming under the signature,  but the signature is presumed to be genuine or authorized.    (3) If   signatures   on   a  security  certificate  are  admitted  or  established, production of the certificate entitles a holder to  recover  on  it  unless  the defendant establishes a defense or a defect going to  the validity of the security.    (4) If it is shown that a defense or defect exists, the plaintiff  has  the  burden of establishing that the plaintiff or some person under whom  the plaintiff claims is a person against  whom  the  defense  or  defect  cannot be asserted.