"This book discusses the Uniform Commercial Code (U.C.C.) Articles 3, 4, and 4A in detail. It also explains to what extent provisions and interpretive cases decided prior to the promulgation of Article 4A and prior to the 1990 revision of Articles 3 and 4 are still useful, and why changes made were needed. It discusses issues not generally recognized and treated elsewhere, including the meaning of the new standard of good faith, the relation between 'accountability' and 'final payment, ' and consequences of radical truncation. In addition to the discussion of payment Articles in the Uniform Commercial Code, the book contains up to date discussion of other payment systems like credit and debit card systems, and other payment methods including prepaid cards, PayPal, mobile payments, and virtual currency transfers."--

This book discusses the Uniform Commercial Code (U.C.C.) Articles 3, 4, and 4A in detail. It also explains to what extent provisions and interpretive cases decided prior to the promulgation of Article 4A and prior to the 1990 revision of Articles 3 and 4 are still useful, and why changes made were needed. It discusses issues not generally recognized and treated elsewhere, including the meaning of the new standard of good faith, the relation between "accountability" and "final payment," and consequences of radical truncation.

In The End of Negotiable Instruments: Bringing Payments Systems Law Out of the Past, author James Rogers challenges the basic assumptions of the law of checks and notes and its history, and provides a well-reasoned account of how the law could be changed to better suit the evolution of new payment technologies. The modern American law of payment systems is in disarray. Efforts to create a unified body of law for payment systems have so far been unsuccessful. Part of the reason for that failure is the assumption that the existing law works well for the traditional paper-based check system, and that problems have been created only by the evolution of new technologies. The End of Negotiable Instruments argues that this assumption is unfounded. The basic law of checks is itself anachronistic. There are no other books that undertake a similar analysis—there are legal treatises on the law of checks and notes, but all of them take for granted the basic assumptions challenged in this book. Several articles were published in the late twentieth century concerning the dispute over the application of certain doctrines of traditional negotiable instruments law to modern consumer finance transactions, but none of this literature went on to consider the broader question of whether there is anything worthwhile left in negotiable instruments law.

Using a hypothetical example, the author explains the applicable laws of fund (wire) transfers, credit, debit, and charge cards, checks, and other payment methods, including stored value, PayPal[Registered] and others, and then discusses those laws in the context of the hypothetical. Each chapter includes several research resources for additional information as well as handy checklists, forms and agreements. The book is accompanied by a CD-ROM of the checklists, forms and agreements for easy customization.

A supplemental text for use in a course devoted to payment systems or in a more general survey course on commercial transactions. Brook (New York Law School) explains the basic law covering modern payment systems, also called negotiable instruments, as they are governed by Articles 3, 4, and 4A of t

Written by Ronald J. Mann, one of the country’s leading Commercial Law scholars, Payment Systems and Other Financial Transactions continues to deliver clear, detailed practical explanations of how payment systems actually work. Using a systems approach, the text and problems focus on rules that are applied in practice. Easily adapted to any 50-minute, 75-minute, or two-hour long class, this casebook is suitable for use in courses on Payment Systems, Negotiable Instruments, or Commercial Paper. New to the 7th Edition: In re Caesars Operating - Posner opinion on standard for bankruptcy court injunction to protect guarantors Receivers of Sabena v Deutsche Bank - a major New York opinion on wire transfers In re Adamson Apparel - a new twist on lingering Deprizio liability 3M v HSBC - liability for fraud in a back-to-back letter-of-credit scenario New revisions to Regulation CC Substantial revisions of the problem sets Professors and students will benefit from: An easy-to-teach organization so class sessions flow naturally from problem sets Coverage of the things students actually want to learn, that they will encounter in practice Assignment structures that make it easy to pick and choose topics for syllabus A casebook that teaches the things students need to know to succeed in clerkships and jobs Self-contained assignments that make preparation easy Problem sets that focus attention to the issues that matter

Written by Ronald J. Mann, one of the country's leading Commercial Law scholars, the Fifth Edition of Payment Systems and Other Financial Transactions continues to deliver clear, detailed practical explanations of how payment systems actually work. Using a systems approach, the text and problems focus on rules that are applied in practice. Easily adapted to any 50-minute, 75-minute, or two-hour long class, this casebook is suitable for use in courses on Payment Systems, Negotiable Instruments, or Commercial Paper. The new edition has been updated throughout and the latest cases included. The problems have been revised to reflect the sorts of disputes arising out of the electronic payment systems prevalent today. Professor Mann, who recently served as Reporter for the amendments to Articles 3, 4, and 4a of the UCC, brings years of scholarly and teaching experience to Payment Systems. The coverage is unparalleled, and in addition to information on negotiable instruments, payments, and credits, includes: Checks, Credit Cards, Debit Cards ACH Transactions, Wire Transfers, Letters of Credit Notes, Guaranties, Securities The systems approach is thoughtfully combined with hands-on explanations , and the text and problems focus on the rules that are applied in practice. The author provides detailed practical explanations and analysis of how payment systems actually work. Twenty-five assignments present realistic problems that cover the major points students should master for each topic. The Fifth Edition features: Revamped and updated problems that reflect the types of disputes arising out of the new electronic payment systems. New cases, including: Wachovia Bank, N.A. v. Foster Bancshares, Inc.--Posner's discussion on the efficiency of check retention plans Triffin v. Third Federal Savings Bank --A forged-check scheme in a New Jersey appellate court provides the first substantive assessment of Check 21 In re PTI Holding Corp.--Judge Markell's thoughtful analysis of when a borrower's bankruptcy justifies a stay of actions against guarantors Chemical Bank v. Meltzer--Major opinion on guaranties and subrogation from the New York Court of Appeals Data Sales Co. v. Diamond Z Manufacturing--Arizona appellate opinion on the Restatement of Suretyship Banco Nacional de Mexico v. Societe Generale--Vigorous enforcement of letter of credit by the New York Supreme Court In re Kang Jin Hwang--Judge Bufford's discussion of the enforceability of securitized negotiable promissory notes Korea Export Insurance Corp. v. Audiobahn, Inc.--California appellate decision arising out of a defaulted banker's acceptance transaction Davis v. Stern, Agee andamp; Leach, Inc. and– Alabama Supreme Court's analysis of forged instructions on securities accountsunder UCC Article 8