2L-3L Upper Level Lesson Topics

The topic of this podcast explains what an indorsement is, the different types of indorsements and why they can be important. Indorsements are covered in Article 3 of the Uniform Commercial Code, which is tested by a number of states on the bar examination. At the conclusion of this podcast, you should be able to (1) identify the different types of indorsements and describe how to use them; and (2) explain the reason why indorsements are important.

The topic of this podcast is the obligations and rights of accommodation parties and accommodated parties under Article 3 of the Uniform Commercial Code (U.C.C.), including issues that arise with respect to the settlement of the obligation of the primary obligor.  Guarantee transactions present themselves frequently in practice and, because issues can arise under Article 3, the issue sometimes comes up on the bar examination in terms of liability. The primary code provisions covered in this podcast are §§ 3-419 and 3-605. Important terminology will also be discussed.

This podcast discusses the basics of who is liable on a negotiable instrument and to whom. Why is this important?  Oftentimes an examination question will simply ask who’s liable. It is important to use the correct legal terminology when describing responsible parties and claims and to organize claims either by responsible party or the party making the claim. In this podcast we will look at responsibility of drawers, makers, drawee banks, depository banks, indorsers, transferees and presenters.

The topic of this podcast is the different basic vocabulary and parties you may see when considering a negotiable instrument under Article 3 of the Uniform Commercial Code. Article 3 is tested on a number of bar examinations. It is always important to correctly identify the transaction and its parties when considering an instrument. An understanding of the basic vocabulary and parties will help you not only use the correct terminology, but also to understand the role of the parties.

The topic of this podcast is the basics of who can bring which claims on a negotiable instrument and against whom. This is important because oftentimes an examination question will simply ask who is liable. But in practice and sometimes on an examination you will have to answer as to the right of recovery of a specific party. You might also need to discuss which parties will ultimately get stuck with the loss. This podcast will look at claims that might be made by a drawer, maker, drawee bank (sometimes called a payor bank), depositary bank, transferee, and payee.

This podcast asks who has the right to enforce a negotiable instrument. The podcast will also discuss enforcement of lost, destroyed, or stolen instruments. Correct terminology is important and this podcast covers terms such as holder, negotiation, person entitled to enforce (PETE), presentment, and dishonor.

The topic of this podcast is who is a holder in due course, how someone becomes a holder in due course, and why it’s important. This podcast will explain the distinction between the process of becoming a holder and a holder in due course. Like other podcasts in the Payment Systems series, this one also deals with instruments, typically paper checks and promissory notes. While we might not use instruments frequently, checks and promissory notes are still used in many transactions, particularly larger ones.