Commercial Paper

This course investigates the law of payment obligations, i.e., how checks, notes, drafts, credit cards and electronic fund transfers and certificates of deposit work to pay obligations. The rights and obligations of the parties arising out of the issuance of transfer of a negotiable instrument are investigated in detail along with such dysfunctional aspects as bounced checks, stopped checks, altered and forged checks. The course also develops the basic relationship between the depositor and his or her bank and the fundamentals of the bank collection process. The course centers on an intensive study of Article 3 of the Uniform Commercial Code and draws extensively on Articles 1 and 4.
Credits: 2

Type: SEM