In this subject, students will study two major components of the law relating to financial transactions: payments and secured transactions. In the payments portion, we will cover the creation, transfer, payment, and liability on commercial paper including the concepts of negotiability, negotiation, holders in due course, forgery, and alteration. The secured transactions segment focuses on the use of personal property as collateral for a loan. We will learn how to create and enforce a security interest as well as how to resolve disputes between competing claimants. The Uniform Commercial Code, especially Articles 3, 4 and 9, a version of which is enacted in each of the United States, forms the statutory base of the course.

Subject rules