A concise, clear, effective review of Commercial Paper and Payment Systems
topics organized around the theme of multiple-choice questions. The basic
format follows the same structure established by the first title in the
series, Joseph Glannon’s The Glannon Guide to Civil Procedure. The book
includes brief explanatory text about the topic under discussion, followed by
one or two multiple-choice questions. After each question, the author explains
how the correct choice was chosen. Thus the student reviews course content and
also learns how to analyze exam questions.
Features:
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Integrates multiple-choice questions into a full-fledged review of the
first-year Commercial Paper and Payment Systems course
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Lead-up discussion of law in the text prepares students to learn
effectively from subsequent questions
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Clear explanations of correct and incorrect answers help to clarify
nuances in the law
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Multiple-choice questions are sophisticated but fair, neither too
difficult nor unrealistically straightforward
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Equally useful to all students, regardless of whether they will be
tested by multiple-choice questions on their exams
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Embodies a far more user-friendly and interactive approach than other
exam preparation aids
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A more challenging final question in each chapter (the “Closer ”)
illustrates a more sophisticated problem in the area under discussion
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“Closing Closer” questions in the last chapter provide
practice and helpful review of concepts in earlier chapters
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Valuable exam-taking pointers interspersed within the substantive text
New to the Second Edition:
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Expanded discussion of online payments issues (eBay, PayPal, various
online fraud/warranty issues)
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Additional multiple-choice questions, to further illustrate the legal
rules
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Discussion and questions related to issues arising from the mortgage crisis,
including
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Whether a promissory note may be enforced if the note is not present (such as
in foreclosure)
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Whether a securitized note may be enforced by an investor in the security
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Updates to address changes in credit card and debit card law
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A new section on the modernization of the check collection system (now
every bank is deemed a local bank)
Part I. Negotiable Instruments (Especially Checks and Notes)
1. Negotiability
2. Who the instrument is payable to: of Transfer, Indorsements, and Holder
3. The Underlying Transaction (and Paid in Full)
4. Enforcing Lost, Stolen or Destroyed Instruments—Herein Of The PEEI
5. Liability on the Instrument: Signers Promise to Pay
6. Defenses, Discharge and Claims to the Instrument
7. The Holder in Due Course
8. The Rights of a Holder in Due Course (It’s Good to be the HIDC)
9. Theft, Forgery, Alterations: Warranties (I am the PEEI, and more)
10. Theft, Forgery, Alterations: The Validation Rules
11. Conversion (You Took from or Paid to a Non-PEEI)
12. Guarantors, aka Accommodation Parties
Part II. Special Rules for Checks
13. Properly Payable Menu and Subrogation
14. Check Collection (Show Me the Money)
15. Wrongful Dishonor
16. Check Payment (The Tale of the Midnight Deadline)
17. Truncation and Electronic Processing of Checks
Part III. Electronic Payment
18. Credit Cards: Liability for Unauthorized Use and Errors
19. Credit Cards: Buyer Protection
20. Debit Cards and Other Consumer Wire Transfers
21. Commercial Wire Transfers: Unauthorized Use
22. Commercial Wire Transfer: Errors
Part IV. Letters of Credit
23. Payment Letters of Credit
24. Standby Letters of Credit
25. Closing Closers
