LAW 380 - Payment Systems.

This course deals with the means by which payments are made. It focuses on negotiable instruments, such as promissory notes and checks, under Articles 3 and 4 of the Uniform Commercial Code, as well as relevant federal law, and includes coverage of a bank’s rights and duties in the check collection process. The course also introduces students to wire transfers and federal regulation of credit cards. A major focus is the allocation of losses due to forgery and other fraud, bank errors, and delays in processing. The course is of particular value to students who expect to practice in firms with an active commercial practice, and is essential to students who expect to represent banks. Two or three hours. Calhoun No prerequisites.