LAWS 657 - Payment Systems

Credits: 3

This course is an introduction to the laws that govern the means by which parties satisfy obligations by payment. The course considers the legal and economic implications of the use of checks and other negotiable instruments as a payment system, including the collection process and loss allocation principles under Articles 3 and 4 of the Uniform Commercial Code. The course also covers federal regulation of funds availability, credit cards, electronic funds transfers and wholesale wire transfers.

Prerequisites: None

Basis of Grade: Final examination

Form of Grade: Letter Grade

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