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Welcome to Payment Systems

This course explores the mechanisms by which actors in commercial transactions make noncash payments as governed by Articles 3 and 4 of the Uniform Commercial Code.

Transcript

Welcome to Payment Systems! This course features 29 lesson videos divided into seven chapters. Designed for 2Ls and 3Ls, this course explores the mechanisms by which actors in commercial transactions make noncash payments as governed by Articles 3 and 4 of the Uniform Commercial Code, or UCC.

Chapter one introduces the law of negotiable instruments and explains key concepts referenced throughout Articles 3 and 4. First, we’ll learn about the role of negotiable instruments in commerce and the...

Lessons

    • 1. Welcome
    • Welcome to Payment Systems
    2. Negotiability
    • Introduction to Negotiable Instruments
    • Negotiability Requirements I
    • Negotiability Requirements II
    • Rule against Additional Terms
    3. Key Terms in Article 3
    4. Enforcement of Negotiable Instruments
    • Holder in Due Course: Value and Good Faith
    • Holder in Due Course: Without Notice
    • Close-Connectedness Doctrine and Shelter Rule
    • Defenses against Enforcement
    5. Liability on Negotiable Instruments
    • Obligations of the Parties
    • Instruments Taken for an Obligation
    • Accord and Satisfaction Using a Negotiable Instrument
    • Enforcement of Lost, Stolen, or Destroyed Instruments
    • Warranty Liability
    6. Dishonor, Payment, and Discharge
    • Dishonor of Negotiable Instruments
    • Payment of Negotiable Instruments
    • Discharge of Liability
    7. Misconduct and Mistake
    • Unauthorized Signatures and Alterations
    • The Negligence Rule
    • Imposters and Fictitious or Unintended Payees
    • Conversion of a Negotiable Instrument
    8. Bank Deposits and Collections
    • Introduction to Article 4
    • Collection: Depositary and Collecting Banks
    • Collection: Payor Banks
    • Payor Bank’s Relationship to Its Customers