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COM-201: Commercial Payments

3 credits

Lower Level in categories: Business Transactions, Secured Transactions, or Banking Laws

This course has been evaluated and recommended for 3 credits by the National College Credit Recommendation Service (NCCRS), and may be transferred to over 1,500 colleges and universities.



Welcome to LawShelf’s video-course on UCC Banking Law. This course focuses on the laws under the Uniform Commercial Code’s Articles 3, 4 and 5 that affect commercial paper, negotiable instruments and other payment systems. This is an advanced course, and knowledge of the UCC, contract law and/or some exposure to banking law is recommended.

Module 1 introduces the course and discusses negotiable instruments. We will look at the requirements for commercial paper to be considered negotiable and then focus on the protections afforded to a “holder in due course” of a negotiable instrument. We will also discuss the requirements to be considered a holder in due course.



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Negotiable Instruments - Module 1 of 6


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Liability and Negotiable Instruments - Module 2 of 6


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The Check Collection Process - Module 3 of 6


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Electronic Funds Transfers and Other Payment Systems - Module 4 of 6


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Allocation of Loss in Commercial Payments - Module 5 of 6


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Letters of Credit - Module 6 of 6


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Case Study: Bank of North Carolina v. Rock Island Bank


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Case Study: Bennett v Broderick