This lesson is designed to introduce the student to the role of the mortgage note and the applicable law. This should be of interest to students studying real estate and to students studying negotiable instruments. If you are not already familiar with negotiable instruments, you should go through the CALI lesson entitled "What's a Negotiable Instrument" before trying this lesson. It will focus on the 1990 version of the UCC because that is the law in most states.
Read moreA letter of credit is a document that operates as a payment method whereby parties doing business can enhance the likelihood of payment (typically for goods) through obtaining a form of payment guaranty from a financial institution. In this lesson we will look at the rules governing letters of credit, namely UCC Article 5 and the Uniform Customs and Practices 600. In particular, we will look at how these rules help in the resolution of pre and post honor disputes concerning letters of credit.
Read moreThis lesson is designed to teach you the terms, i.e., the words of art, you will need to understand if you are studying Article 3 of the UCC which governs negotiable instruments.
Read moreThe topic of this podcast is: (1) when a person that takes an instrument from a fiduciary has notice of the breach of fiduciary duty; and (2) when a representative is bound individually on an instrument.
Read moreThe 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
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