The Law of Negotiable Instruments

The legal aspects of the various and varied negotiable instruments in current use, involved in the transfer of monies and property in business and banking transactions, are studied. The course is organized around checks, notes, drafts, and acceptances, as well as involving instruments and documents, such as certificates of deposit and hybrid letters of credit, and their impact on current and future business and banking transactions. The rights and liabilities of accommodation parties, sureties, guarantors, and rights of subrogation relating to these various instruments are covered. The legal rights, obligations, and liabilities of banks, bank depositors and customers, and third parties are also explored and studied.