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Spring 2014 - Payment Systems

Kull, Andrew

Course ID: 280C  Unique # 29625  Credit Hours: 2
Meeting DaysTimesLocation
   Tuesday 1:15 pm - 2:05 pm TNH 3.129
   Thursday 1:15 pm - 2:05 pm TNH 3.129
Exam Type   Date   Time      Name Range   Room  
  Final Monday, May 12    8:30 am          A-Z

An introduction to the "payments" side of commercial law:  traditional devices (cash, checks, promissory notes) vs.  their more recent plastic and electronic substitutes (credit and debit cards, electronic transfers, Bitcoins, whatever).

Transactions in negotiable paper are the subject of several articles of the Uniform Commercial Code (3, 4, 4A, et al.), making the course a basic part of any traditional commercial-law sequence and a serious exercise in reading statutes.

Behind the statutes, and more interesting, is one of the great common-law inventions:  the idea of "negotiability."  How this works (and why) is a question at the dead center of the whole of commercial law.  The intersection of Contracts and Property thinking, and the way it is typically extended from two-party to three-party scenarios, makes Payments a rewarding topic for anyone who likes the basic private-law building blocks.  (You do not have to want to work in a bank.)

Related Course Areas
Commercial and Debtor-Creditor Law - Baird
  Foundation Press, edition: 2013
  ISBN: 978-1-60930-381-5   (required)
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