Ohio Code 1308.04 – Evidentiary rules concerning certificate securities – UCC 8-114
The following rules apply in an action on a certificated security against the issuer:
Terms Used In Ohio Code 1308.04
- Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
- Person: includes an individual, corporation, business trust, estate, trust, partnership, and association. See Ohio Code 1.59
- Plaintiff: The person who files the complaint in a civil lawsuit.
- Pleadings: Written statements of the parties in a civil case of their positions. In the federal courts, the principal pleadings are the complaint and the answer.
(A) Unless specifically denied in the pleadings, each signature on a security certificate or in a necessary indorsement is admitted;
(B) 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;
(C) 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;
(D) 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.