Payment Systems

Course Information

Registration Information

Meeting Times

Day Time Location
MON, WED 11:50 am - 1:05 pm TNH 3.142

Evaluation Method

Type Date Time Location
Final May 11, 2019 8:30 am A-Z in 2.139


An introduction to the "payments" side of commercial law: traditional devices (cash, checks, promissory notes) vs. their more recent plastic and electronic substitutes (credit and debit cards, electronic transfers, Bitcoins, whatever). Transactions in negotiable paper are the subject of several articles of the Uniform Commercial Code (3, 4, 4A, et al.); the plastic and electronic systems are more likely to be governed by federal statute and regulation, as well as by private contract. Even a concise overview of this material makes a serious exercise in reading statutes. Behind the statutes, and more interesting, is one of the great common-law inventions: the idea of "negotiability." How this works (and why) is a question at the dead center of the whole of commercial law. The intersection of Contracts and Property thinking, and the way it is typically extended from two-party to three-party scenarios, makes Payments a rewarding topic for anyone who likes the basic private-law building blocks. (You do NOT have to want to work in a bank.)

Textbooks ( * denotes required )

Commercial and Debtor-Creditor Law *
Foundation Press , edition: 2018
ISBN: 9781640209541
Sales Store Materials *


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Important Class Changes

Date Updated
04/08/2019 Exam information updated