3 credits

Evaluation Methodology:

  • 100% open book final examination with paper option worth 50%

Course Description:
“Negotiable instruments” are commonly used as credit and payment instruments in consumer, commercial and financial transactions. They are widely used in connection with sales, guarantees and loans as well as most sophisticated money and financial market contracts. Some of their aspects are closely linked to the banker-customer relationship and must be studied in conjunction with the fundamentals underlying banking and the financial industry. Hence, the course deals with the law applicable to these instruments in the context of “banking” and further provides an overview of the financial system. By the end of the course students will have an understanding of the operation of various payment mechanisms including bills of exchange, cheques, wire transfers and credit cards. Moreover, students will also gain some familiarity and be in a position to critically evaluate many of the policy debates that are prevalent in commercial law. *Business Associations is not a prerequisite for this course however; students are strongly encouraged to complete Business Associations before or during their enrollment in this course.