601:601. NEGOTIABLE INSTRUMENTS (3)
This course examines both the law that governs the check system in the United States as well as its practical operation. The discussion explores issues that arise both in daily life and in the practice of law. If someone steals your checkbook and cashes your check, when are you liable to the bank? If you buy a defective widget and then stop payment, can the seller sue you on the check? If you guarantee your friend's car loan, when can the creditor sue you? By the way, when you win that million dollar verdict, who should be listed as payee on the check, you or your client? No matter what type of law you intend to practice, you will want to know the answers to these questions. The course also explores the intricate system by which banks collect checks in this country. Articles 3 and 4 of the UCC will be studied, as well as applicable federal law.
Last updated May 8, 2015.