Negotiable Instruments / Payment Systems

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Negotiable Instruments / Payment Systems

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Negotiation and Becoming A Holder

This lesson will teach you the sometimes confusing rules governing negotiation of instruments under Article 3 of the UCC. Among other things, you will learn what one needs to do to become a holder of an instrument, how instruments are negotiated, and what is necessary for an effective indorsement. If you are already familiar with this material, the lesson can be completed quickly, giving you a good pre-exam review and pointing out any weaknesses in your knowledge.

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Payment Systems Introduction Podcast

The topic of this podcast is the basic concepts related to payment systems. In particular, this podcast will introduce some of the payment systems, many of which you probably use regularly. At the conclusion of this podcast, you should be able to (1) identify some of the primary payment systems in the United States; and (2) identify some of the statutory and other rules governing these systems.

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Payment Systems: Being a Holder in Due Course: Personal Defenses Podcast

This podcast will introduce you to the protection afforded a holder in due course from defenses to payment arising from personal defenses. As holder in due course doctrine arises under Article 3 of the Uniform Commercial Code, this topic deals with instruments, typically paper checks and promissory notes. Importantly, holders in due course doctrine, especially the benefits, are tested by a number of states on the bar examination. This podcast primarily addresses defenses set forth in § 3-305, which you should read carefully.

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Payment Systems: Being a Holder in Due Course: Real Defenses Podcast

This podcast discusses the real defenses that can be asserted by an obligor against a holder in due course seeking payment on an instrument. As holder in due course doctrine arises under Article 3 of the Uniform Commercial Code, this topic deals with instruments, typically paper checks and promissory notes. Importantly, holders in due course doctrine, especially its benefits and limitations, are tested by a number of states on the bar examination. This podcast primarily addresses defenses set forth in § 3-305, which you should read carefully.

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Payment Systems: Credit Cards Podcast

The topic of this podcast is to introduce the basic attributes of credit cards and how the payment system handles error and fraud. At the conclusion of this podcast, you should be able to (1) identify the primary parties associated with credit card transactions; and (2) identify the applicable legal rules and the defenses of unauthorized charges, billing errors, and contractual defenses.

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Payment Systems: Debit Cards Podcast

The topic of this podcast is to introduce the basic attributes of debit cards and how the payment system handles error and fraud. Debit cards are governed by the rules of the federal government’s Consumer Financial Protection Bureau (CFPB) contained in Regulation E. This podcast discusses Regulation E, including issuance of debit cards, disclosures, liability for unauthorized transactions, and even overdraft protection.

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Payment Systems: Effect of the Instrument on the Underlying Obligation Podcast

The topic of this podcast is the relationship between the liability that parties have on an underlying contractual obligation and an instrument that is taken as payment for the same obligation, including using an instrument to achieve an accord and satisfaction as to a contractual dispute. For example, an individual enters into a contract for a large item such as a car and takes out a loan for payment, signing a promissory note.

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Payment Systems: Employer Responsibility Podcast

This podcast addresses three situations where employers have responsibility for employee fraud related to instruments: (1) where there is a fraudulent indorsement on an instrument either sent to the employer or issued by the employer; (2) where the employee has fraudulently caused the issuance of instruments by the employer; and (3) where the employer has been negligent. This topic also deals with instruments, typically paper checks and promissory notes.

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Payment Systems: Holders Podcast

The topic of this podcast is who a holder is, how someone becomes a holder, and why it is important. This topic 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. Moreover, financial fraud remains a problem for attorneys who might be the victim of it themselves or need to counsel clients with respect to enforcement of an instrument.

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Payment Systems: Imposters and Fictitious Payees Podcast

The topic of this podcast is who has responsibility for losses involving imposters and fictitious payees. This topic deals with instruments, typically paper checks and promissory notes. Most individuals don’t use paper checks very often, but checks and promissory notes are still used in many transactions, particularly larger ones. Moreover, financial fraud remains a problem. Not only is this a practice issue, but imposters and fictitious payees are covered in Article 3 of the Uniform Commercial Code, which is tested by a number of states on the bar examination.

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