Capital University Law School
First Assignments -- Payment Systems M
Required Text: Douglas J. Whaley and Stephen M. McJohn, Problems and Materials on Payment Law (Wolters Kluwer, 9th. ed. 2012) (hereinafter referred to as the “Text”). ISBN: 978-1-4548-0721-6
Required Statutory Supplement: Mann, Warren & Westbrook, Comprehensive Commercial Law 2012 Statutory Supplement (Wolters Kluwer) (hereinafter referred to as the “Code Book”) ISBN: 978-1-4548-1106-0 (or 2011 version)
Although students are permitted to purchase ANY professionally-published commercial law supplement containing Articles 3, 4 and 4A of the Uniform Commercial Code and Federal Regulation CC, it is HIGHLY RECOMMENDED that you purchase the Mann, Warren & Westbrook supplement recommended above. Other supplements may be idiosyncratic in their inclusion of revisions and amendments which may lead to confusion. In the past students who have purchased other supplements have discovered necessary subsections missing and extraneous code sections included. Given the complexity of the material, it is probably worth the extra cost to purchase the recommended supplement! If you purchase a supplement other than the one referenced above, be certain that your book contains the 2001 Revision of Article 1 of the U.C.C., as that is the version in effect in Ohio and the one we will be studying. The 2001 Revision of Article 1 is easily identifiable because it contains a “Part 3” and has code sections numbered in the 1-300s (for example, sections 1-301, 1-305, etc.). If a student uses a supplement that is missing one or more of these legal sources, he or she will be responsible for obtaining access to the material. If a student uses a supplement containing superseded law, that student is responsible for obtaining the current law. Books published within the last three years should be sufficiently current.
Students will be permitted to bring the supplement into the final exam and will be permitted to write anything they wish by hand in any of the blank spaces in the supplement. Thus, students may wish to avoid relying on previously-used code books containing significant amounts of handwriting.
Optional Additional Reference: James Brook, Examples and Explanations: Payment Systems (Wolters Kluwer 4th ed.) (on library reserve)
[You may also use the 3d. ed. It’s basically the same.]
Text: xix – 7 (stopping before Triffin); 15 (beginning with “2”) – 18 (stopping before Woodworth); 20 (beginning with “F”) – 25
Problems 1 – 4; 6 – 11, including all subsections. Supplemental Problem 1(a) (below), to be completed with Problem 1 in the text.
Supplemental Problem 1(a): What is a “cashier’s check?” See § 3-104(g)
Register on the course TWEN page: Using your Westlaw number, sign on to WestLaw, look for TWEN and registration for the class – listed as “Payment Systems” under the name “Cohen” – is easy from there. Be sure you are registering for the version of the course you are enrolled in – there is one TWEN page for the day section and one for the evening section!
Notes on the problems: In some cases where the actual problem does not reference a code section for an answer, the surrounding text clearly indicates where the answers may be found. Read carefully!
For problem 9(b), there may be no “correct” answer. What are the arguments?
For problem 9(d), assume the instrument contains a date of issuance. See § 3-108
For problem 9(i), assume the maker’s birthday is not stated on the instrument.
Avoid any temptation to skip the preface. The preface is important primarily because it explains how much attention is required for a particular code section when the book instructs you to “Read §3-406,” as opposed to “See §3-406,” or “Cf. §3-406.” As a general rule, when you are instructed to “read” a code section at any time during this course, you must also read the Official Comment which follows in the code book (if there is one). Official Comments can be so helpful that reading them is almost like cheating, except that doing so is required. Courts often rely on the Comments for interpretation of the code, and so should you! You should consider reading the Official Comments in full even if you think you understand the code and even if the assignment doesn’t instruct you to “read” a particular code section. The examples in the Official Comments can be extremely helpful, so don’t skip them either.