LAW 6031 Payment Systems

This Course Will Survey The Uses Of Different Payments Mechanisms ( Negotiable And Nonnegotiable Instruments, Credit Cards And Electronic Funds Transfer And Wire Transfer Systems). In Both Credit And Cash Transactions. The Course Will Consider Allocation Of Risks For Fraud, Countermands, Defenses On The Underlying Contract, Mistake, Timeliness And Unauthorized Payments. In Each Case The Allocation Of Risks In Connection With Different Payments Mechanisms Will Be Considered, Along With Whether These Allocations Should Be The Same Or Different For Each Mechanisms. This Course Will Focus On Article 3 And 4 Of The Uniform Commercial Code And Consider Letter Of Credit Under U.c.c. Article 5 And International Payment Regimes As Well The Impact Of Federal Legislation On The State Payments Law (u.c.c. Articles 3,4,and 4a) May Be Also Be Treated.