COMMERCIALPAPER CourseOutlineandSyllabus
ProfessorLewis FALL
2012
RequiredTexts: Lewis&Resnicoff,NEGOTIABLEINSTRUMENTSANDOTHER PAYMENTSYSTEMS:ProblemsandMaterials,LEXISNEXIS Publishing2004 CommercialandDebtor‐CreditorLaw:SelectedStatutesby FoundationPress PREFERRED OR West'sSelectedCommercialStatutesOR anyrecentcopyofUniformCommercialCode,Articles3&4 1.Introduction‐Preface,Chapter1 2.Negotiability‐Chapter2 3.TheLifeofanInstrument‐Chapter3
YoumayskiptheQatarcaseonpage38 4.PartiesEntitledtoEnforce‐Chapter4 5.LiabilityontheInstrument‐Chapter5 A.ContractofMaker&Indorser‐Pages55‐61 B.Drawer'sContractLiability‐Pages61‐62 C.Acceptor=sContractLiability‐Pages62‐63 D.TheTechnicalRights‐PresentmentandNoticeofDishonor‐Pages63‐70 E.Agency‐Chapter6 F.AccommodationParties‐Chapter7 G.DefensesandDischarge‐Chapter8 6.TheHolderinDueCourseDoctrine‐Chapter9 A.GenerallyPages115‐138 B.InConsumerTransactionsPages138‐142 C.ShelterDoctrinePages142‐144
7.LiabilityOfftheInstrument A.WarrantyLiability‐Chapter10
B.Conversion‐Chapter11
8.ProperlyPayableRule‐Chapter12
9.WrongdoingandError A.ForgedandMissingSignatures‐Chapter16
B.Exceptions‐Chapter17
10. BanksandtheirCustomers A.StopPaymentOrders‐Chapter13
B.WrongfulDishonor‐Chapter14
11.Review FINALEXAM ThefinalexamwillbecomprisedofseveralshortESSAYquestionsandwillbeOPEN‐
BOOK.Youmaybringintotheexamyournotes,outlinesyouhavepreparedyourself, yourcasebook,theCodeandhandouts.YoumayNOTbringtotheexamanyhornbooks,
nutshells,commercialoutlines,etc.
CLASSPARTICIPATION/PREPARATION Thisislargelyaproblemcourse asopposedtooneusingacasemethodof instruction .Theproblemsappearonthepagesassignedabove.Itistoyourbenefit thereforetohaveworkedoutalltheproblemsappearingontheassignedpagesbefore comingtoclass.Iwillexpectthatyouhavedonethatandwillcallonyouaccordingly. Classparticipationandpreparationmaybeconsideredinapositivewayin determiningyourfinalgrade‐‐thatis,itmayhelpyouinborderlinecases.Participationand
preparationwillnot,however,beconsideredinanydetrimentalfashion. ANOTEABOUTTHESYLLABUS
ThissyllabusisusedinthecoursethatIteachinDePaulthatisa3creditcourse. Because
thissubjectmatterisfairlydifficult,Iwillnotrushthroughitjusttogetitdone. Iexpect
tocoveritinsuchawaythatwedonotmoveontothenexttopicuntilIamconvincedyou
understandthecurrenttopic. Forthatreason,thesyllabusdoesnotincludedatesor
classsessionsinwhichthematerialswillbecovered.Moreimportantly,thismightmean
thatasthesemestergoeson,Imightcutcertaintopicsoutorcutdownontheproblemswe
do. Iwilldomybesttogiveyoutimelynoticeofwhatwewillnotcover,butitalldepends
onourpace.