Curriculum Guide · Courses
Commercial Law: Payment Systems
J.D. Course 1227 (cross-listed) | 3 credit hours
This course examines the law governing promissory notes and checks and the bank-customer relationship. Issues considered include liability for error and unauthorized transactions, misfeasance by employees, rights on a dishonored note or check, and customer and bank obligations on a checking account. Payments law is governed Articles 3 and 4 of the Uniform Commercial Code, and various federal regulations. The problem method is used to teach the material. Students are divided into small groups and responsible for a portion of the problems and cases in the course materials. Student groups present their problems to the rest of the class, and a portion of each student’s grade is based on the efforts made in addressing these problem. If time allows, the course will also look at regulation of electronic payment systems, such as credit and debit cards, stored value cards, and wire transfers.
Students may not receive credit for both this course and Commercial Law: Secured Transactions and Payment Systems. Students may take this course and Commercial Law: Sales Transactions and Commercial Law: Secured Transactions.