Payment Systems

Assignments for Friday, November 20, 2009;
Monday, November 30, 2009;Tuesday, December 1, 2009

1.  Casebook, Pages 316 - 317 (Text on Alteration of Complete Instruments).

2.  Casebook, Middle of Page 321 - Top of  Page 322 (Alteration of Incomplete Instruments).

3.  UCC § 3-413 (b).

4.  Casebook, three Paragraphs on Restrictive Endorsements, Page 322 - Top of 323.

5.  Casebook, Page 329 - Top of 339 (Includes Stop-Payment Orders and the Dunnigan Case).

6.  UPC § 4-403

7.  Casebook, Middle of 340 - Top of 341 (Text on Postdated Checks).

8.  Casebook, Top of Page 341 - Middle of Page 342 (UCC § 4-303 and the "Four Legals").

9.  Casebook, Middle of 348 - Middle of 359 (Wrongful dishonor and the Loucks Case.)

Please note that most of these items are brief.

 

Payment Systems

Assignment for Tuesday, November 17, 2009

1.  Casebook, Pages 285 - Middle of 295 (All Textual).

2.  UCC Sections 3-418, 4-208, and 3-420 (plus others of relevance). 

(This assignment follows the Story Road Flea Market case.)

Payment Systems

Assignment for Tuesday, November 10, 2009 and 
Friday, November 13, 2009

1.  Casebook, Pages 257 - 263 (Includes Thompson Maple Products, a rather famous case).

2.  Casebook, Pages 264 - Top of 271 (Includes Halifax Case).

3.  Story Road Flea Market Case (Handout).  (This case replaces Expresso Roma on page 271 of the casebook.)

Copies of this assignment are available on the handout table.

On Monday, November 9, 2009 we will continue with the previous assignment (Oak Brook, Essex, etc.).

Professor Claxton

Payment Systems

The Class will not meet on Friday, November 6, 2009.

Professor Claxton

Payment Systems

The Blake materials are an extremely important foundation for an understanding of the payor bank’s role in the collections process.  It became apparent this morning (Friday, October 30, 2009) that the Freakers’ Ball (I assume) had a devastating impact on the physical well-being of our gallant little band.  With apologies to the two folks who were present, therefore, I decided not to hold the class.  Instead, we will deal with Blake on Monday, November 2.

                I would never have taken this step years ago.  I know that an argument can be made for moving forward come hell or high water in a situation like this one, and for decades that has been my position.  I simply am not going to take that approach, however, in this course with this particular material.  The materials for this specific class session are among the most important that we will cover.  I assure you that I have no ill feelings personally about this matter.  I just wish that we had reached Blake one class earlier – or maybe that the Freakers’ Ball had fallen on another evening!  That’s life.

                                                                                                                                                                Joseph E. Claxton  

 

Payment Systems

Assignment for Monday, November 2, 2009 and

Tuesday, November 3, 2009

1.  UCC Section 4-215.

2.  Casebook, Middle of 146 through Note on 154 (Includes Oak Brook Bank and Essex Corporation).

3.  Casebook, Top of 161 - Middle of 170 (Key Material on Regulation CC and "Check 21").

The Blake assignment preceded this assignment.

Professor Claxton

 

Payment Systems

Assignment for Tuesday, October 27, 2009

1.  Casebook, Pages 120 - Top of 135 (Includes Blake).

2.  Relevant Code Sections (Mostly in Article 4).

Omit the problems for now.

Professor Claxton

Payment Systems

Friday, October 23, 2009

1.  Casebook, Text on 113.

2.  Casebook, Gelles Case (Handout; Was in Previous Edition of Casebook; replaces IFC Credit in 7th Edition).

3.  Casebook, Note 2 on Pages 118 - 119.  (Note 1 is out of date.)

4.  UCC § 1-202 (f) (Due Diligence).

Copies of this assignment are on the handout table outside Room 144.

Professor Claxton

Payment Systems

Assignment for Friday, October 16, 2009

 

1.  UCC § 3-605.

2.  Casebook, Top of 102 - Top of 104 (Textual Materials on Surety ship Defenses).

3.  Casebook, Top of 104 - Bottom of 105 (Signatures by Representatives, including Liability of Agent on Notes).

4.  UCC § 3-401.

5.  UCC § 3-402.

6.  Casebook, Bottom of 105 - 112 (Includes Triffin Case).

Professor Claxton

Payment Systems

Assignment for Tuesday, October 6, 2009

1.  Casebook, Middle of Page 90 - Middle of 94 (Includes Diaz; Omit Problems on 94 - 95).

2.  Casebook, Middle of Page 95 - Top of 102 (Includes Plein Case; Omit "Bob and Ted" Problem on Page 97 but include "X-Y-Z" Problem on Bottom of 97 - Top of 98).

Payment Systems

Assignment for Monday September 28, 2009 and 
Tuesday, September 29, 2009

1.  Casebook, Bottom of 84 - Bottom of 88.

2.  Casebook, Middle of 89 - Top of 90.

3.  Casebook, Pages 77 - Bottom of 84 (Omit the problem on Page 81).

Yes, the assignment is arranged "in reverse order" With regard to Item 3.

Professor Claxton

Payment Systems

Assignment for Tuesday, September 22, 2009

Casebook, Bottom of 63 - 76 (Includes Bowling Green Case).

You already have the assignment for Monday, September 21, 2009.

Professor Claxton

Payment Systems

Assignment for Monday, September 21, 2009

(Follows the Unico Assignment Officially Designated for Friday, September 18, 2009.)

1.  Casebook, Middle of 52 - Middle of 53 (Purchase Money Loans).

2.  New UCC § 3-305 (e).

3.  Casebook, Middle of 54 - Top of 55.

4.  Casebook, Top of 55 - Bottom of 56.

5.  Casebook, Bottom of Page 56 - Top of 62 (Omit the Problems).

6.  Casebook, Note the Uniform Fiduciaried Act, Page 62 - Top of 63.

Payment Systems

Assignment for Friday, September 18, 2009

1. Unico v. Owen (Handout: this case falls under the heading of Negotiability in Consumer Transactions.  It replaces the case beginning on bottom of page 45 of the casebook - Universal C.I.T. Credit.
2. Casebook, Middle of 48 (Note) - Top of 55.
3. Relevant sections of the UCC.

Professor Claxton

Payment Systems

September 14, 2009

I will not be on jury duty, therefore, classes will resume at regular times on 
Tuesday, September 15, 2009.

Professor Claxton

Payment Systems

1. The class will not meet on Monday, September 14, 2009.
2. On Tuesday, September 15, 2009 we will begin with Problem 2 on page 33 and then proceed to the Maine Family Credit Union case. 

Professor Claxton

 

Payment Systems

Assignment for Friday, September 11, 2009

1.   Casebook, Middle of 33 through 44 (Omit the Problems) - This assignment includes the Maine Family Credit Union case.  This case touches upon factors in the "collections process" that will be difficult for you to grasp at this point, but do not despair.

2.   Relevant sections of the UCC.

Professor Claxton

 

 

PAYMENT SYSTEMS

Assignment for Tuesday, September 8, 2009

1.   Casebook, Top of 24 - Middle of 33.  (Includes Kaw Vally case)

2.   Omit Problem 1 on Pages 32 - 33 but Include Problem 2 on page 33.

3.   Relevant UCC Sections (As Noted in the Text).

Professor Claxton

Payments Systems

Assignment for Monday, August 31, 2009 and 
Tuesday, September 1, 2009

1. Casebook, Top of Page 12 - Middle of Page 15 (Omit Problem on Page 15).
2. Section 3-305.
3. Casebook, Bottom of Page 15 - Top of Page 24.
4. All relevant code sections, especially 3-104.   

      On Monday, August 31, we will not go beyond Items 1 and 2.

      Professor Claxton

Payment Systems

Please add the following two code sections to the assignment designated for August 24 and August 25.  Do not worry - we will not deal with these two sections in detail today (Monday, August 24).

3-201
3-202

Professor Claxton

Payment Systems

Whenever an assignment includes a handout, the handout will be placed on the table outside Room 344.  I do not use the handout slots.

Professor Claxton

Payment Systems

Professor Claxton

Assignment for Monday, August 24, 2009 and Tuesday, August 25, 2009

 

Copies of these assignments are on the table outside Room 344.

 

Handout -- Thoughts on the UCC

Handout --  Using a Simple Sports Analogy

1.     Casebook, Pages 2 - Bottom of 7 (New materials will be substituted for the cases.)

 

2.     Casebook, Bottom of Page 7 - Top of 12 (Include Problems).

 

3.     Page iii (Preface) of Statutory Supplement.

 

4.     Sections in UCC.

• 1-201 (Relevant Definitions)
• 3-101 through 3-105, especially 3-104
• 3-203
• 3-204
• 3-205
• 3-301
• 3-302
• 3-305
• 3-308
• 3-602

Articles 3 and 4 of the UCC have been changed at least three times during the last nineteen years.  Your supplement contains the most recent versions.  On occasion, your casebook (especially the cases themselves) will refer to sections in other versions.  Do not despair.  Just remember that this course is a classic "code course" and act accordingly.

 

The required materials are set forth below.  YOU MUST HAVE THE EDITIONS INDICATED. 

 

1.     Warren & Walt, Payments and Credits (7th Ed., Foundation Press 2007) (CURRENT EDITION).

 

2.     Warren & Walt, Commerical Law: Selected Satutes, (2009 - 2010 Ed., Foundation Press.)  You must have a new, clean copy.  This edition is a strange dark color.

 

The class will meet in the Faculty Seminar Room (FS).