Commercial Paper and Banking

This course will examine the law and practice concerning payment systems. The course examines the state and federal laws and cases governing negotiable instruments such as promissory notes and checks (Articles 3 and 4 of the Uniform Commercial Code, Reg CC, and Check 21), letters of credit (UCC Article 5 and Uniform Customs & Practices 600), electronic funds transfers and credit and debit cards (UCC Article 4A, the Federal Electronic Funds Transfer Act, Expedited Funds Availability Act, Truth In Lending Act, the Consumer Credit Protection Act and the various applicable regulations, such as Reg CC, Reg E, Reg Z and Reg J).