Illinois Compiled Statutes 810 ILCS 5/8-114 – Evidentiary rules concerning certificated securities
Current as of: 2024 | Check for updates
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The following rules apply in an action on a certificated security against the issuer:
(1) Unless specifically denied in the pleadings, each
(1) Unless specifically denied in the pleadings, each
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signature on a security certificate or in a necessary indorsement is admitted.
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(2) If the effectiveness of a signature is put in
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issue, the burden of establishing effectiveness is on the party claiming under the signature, but the signature is presumed to be genuine or authorized.
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(3) If signatures on a security certificate are
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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.
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(4) If it is shown that a defense or defect exists,
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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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Terms Used In Illinois Compiled Statutes 810 ILCS 5/8-114
- Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
- 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.