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Payment Systems : Examples and Explanations

Payment Systems : Examples and Explanations - 3rd edition

Payment Systems : Examples and Explanations - 3rd edition

ISBN13: 9780735562424

ISBN10: 0735562423

Payment Systems : Examples and Explanations by James Brook - ISBN 9780735562424
Edition: 3RD 07
Copyright: 2007
Publisher: Aspen Law
International: No
Payment Systems : Examples and Explanations by James Brook - ISBN 9780735562424

ISBN13: 9780735562424

ISBN10: 0735562423

Edition: 3RD 07

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Using the proven Examples and Explanations format, Payment Systems: Examples & Explanations, Third Edition, provides students with a clear, engaging introduction to the principles of payment systems. The author, who brings extensive writing and teaching experience to the task, uses well-written and interesting examples, as well as relevant visual aids, to illustrate how these principles apply in typical situations.

The Third Edition of this highly accessible and well-written study aid has been completely updated. It offers

  • comprehensive coverage of the standard topics in most payment systems courses, including Article 3 of the UCC (negotiable instruments); Article 4 (check collection); Article 4A (commercial electronic funds transfers); consumer funds transfers; and credit cards
  • notably lucid explanations of complex or ambiguous areas of the law
  • well-crafted, accessible, and relevant examples that progress from simple to more complex issues
  • visual aids flow charts and images of sample instruments that help clarify complex transactions
  • Revision Alert boxes covering proposed 2003 amendments to UCC Articles 3 and 4
  • parallel cites to the old and the new UCC Article 1

New to this edition:

  • recent developments in the area of check collection the author explores the tremendous impact the advent of various new electronic means of collection has had on this area of payment systems
  • new chapter on twenty-first century check payment describes recent developments in this area, including the new federal Check 21 Act
  • updated cases, examples, and explanations

Table of Contents

Table of Contents

Part One. The Basic Law of Negotiable Instruments

What Is a Negotiable Instrument?
Principles of Negotiation and Becoming a Holder
Liability on the Negotiable Instrument
Issues of Agency
Accommodation Parties
Effect on the Underlying Obligation

Part Two. The Holder in Due Course

Who Qualifies as a Holder in Due Course?
Defenses, Claims of Others, and the Holder in Due Course
The Consumer Context

Part Three. The Check Collection System

The Traditional Method of Check Collection
The Checking Account in the Electronic Age
Final Payment
Expedited Return Under Regulation CC

Part Four. The Bank-Customer Relationship

The Duty to Pay and Wrongful Dishonor
Stopping Payment
Funds Availability Under Regulation CC

Part Five. Problems of Theft, Forgery, and Alteration

Who Bears the Risk of Theft, Forgery, and Alteration?
Special Rules for Special Situations
The Bank Statement Rule

Part Six. Electronic Means of Payment. The Consumer Context

Credit Cards
Debit Cards and ATM Transactions

Part Seven. Electronic Means of Payment. The Commercial Context

Introduction to Commercial Electronic Funds Transfers and Article 4A
Security Procedures and the Risk of Theft
Errors in Execution