LAW7510 Commercial Paper

This course examines the workings of the finance and payments systems, and the legal doctrines on which they are based, focusing on UCC Articles 3 (Negotiation, Defenses, Holder in Due Course, and the status of parties to an instrument) and 4 (the bank collection system) and Regulation CC. Covered topics include negotiation in Funds Transfer Systems and in the context of personal property leases, letters of credit, bank acceptances, and personal property security interests, related doctrines of agency, suretyship, insolvency, contracts, sales of goods, bankruptcy, and assignment and transfer. Attention will also be given to drafting and litigation, the conduct of discovery, and trial tactics. Prerequisite: Contracts I and II