Payment Systems: Examples and Explanations

You'll appreciate the lucid writing style of this engaging introduction to the principles of payment systems, complete with tables, chars, and diagrams that clearly illustrate the route a check or note may take as it passes from hand to hand and from bank to bank.

This revision includes complete coverage of the standard topics of a typical payment system course:

• Article 3 of the UCC (negotiable instruments)
• Article 4 on Check Collection
• Article 4A on (commercial electronic unds transfers)
• Consumer funds transfers
• Credit cards

James Brook also provides an analysis of recent cases that tackle the latest topics in payment systems:

• the definition of 'good faith' under revised Article 3
• whether a certified or cashier's check can ever be dishonored by the issuing bank
• whether a depositary bank can be held to have failed to act with due care under Section 3-406(b)
• up-to-date Revision Alerts indicating proposed changes for Article 3 and 4 in the 2002 Amendments now being considered by the states for adoption

To give your class practice in applying the basic legal precepts and operative rules of payment systems, be sure to require or recommend Payment Systems, Examples and Explanations, Second Edition.