Lawdibles

Lawdibles: Your Audio Law Professor. A law professor explaining a narrow area of law understandably and accurately in less than ten minutes.

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Payment Systems: Fraudulent Signatures, Alterations and Negligence

September 11th, 2017 · Comments Off on Payment Systems: Fraudulent Signatures, Alterations and Negligence · Lawdibles Audio, Negotiable Instruments

In this podcast Professor Jennifer Martin addresses the liability that arises when there is a fraudulent signature on an instrument, as well as the effect of alterations and negligence. These rules are covered in Article 3 of the Uniform Commercial Code, which is tested in a number of states on the bar exam. At the conclusion of this podcast, you should be able to (1) describe when a signature is sufficient to make a person liable on instrument; (2) describe how Article 3 treats responsibility for alterations; and (3) describe when the failure to exercise ordinary care will shift responsibility on the grounds of negligence to an account holder.

A transcript of this podcast is here.

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Payment Systems: Employer Responsibility

September 11th, 2017 · Comments Off on Payment Systems: Employer Responsibility · Lawdibles Audio, Negotiable Instruments

In this podcast, Professor Jennifer Martin addresses three situations where employers have responsibility for employee fraud related to instruments: (1) where there is a fraudulent indorsement on an instrument either sent to the employer or issued by the employer; (2) where the employee has fraudulently caused the issuance of instruments by the employer; and (3) where the employer has been negligent. This topic also deals with instruments, typically paper checks and promissory notes. While consumers and businesses don’t use paper checks as much as they did in the past, these are often large value instruments and fraud remains a problem. Not only is this a practice issue, but the employer rules are covered in Article 3 of the Uniform Commercial Code, which is tested by a number of states on the bar examination. These loss shifting rules are favorites on bar exams. At the conclusion of this podcast you should be able to (1) identify when the employer responsibility for fraudulent indorsements, fictitious payees and negligence rules leave responsibility for losses on employers.

A transcript of this podcast is here.

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Payment Systems: Imposters and Fictitious Payees

September 11th, 2017 · Comments Off on Payment Systems: Imposters and Fictitious Payees · Lawdibles Audio, Negotiable Instruments

The topic of this podcast, by Professor Jennifer Martin, is who has responsibility for losses involving imposters and fictitious payees. This topic deals with instruments, typically paper checks and promissory notes. Most individuals don’t use paper checks very often, but checks and promissory notes are still used in many transactions, particularly larger ones. Moreover, financial fraud remains a problem. Not only is this a practice issue, but imposters and fictitious payees are covered in Article 3 of the Uniform Commercial Code, which is tested by a number of states on the bar examination. These loss shifting rules are favorites on bar exams. The primary rule at play here is 3-404. It is important to try and use the correct terminology so in this podcast be on the lookout for the following: imposter, issuer, indorsement, payee, fictitious persons, person whose intent determines to whom an instrument is payable, holder, indorsement, and person entitled to enforce (or sometimes called a PETE). At the conclusion of this podcast, you should be able to identify when the imposter and fictitious payee rules apply to leave responsibility of losses on issuers and account holders.

A transcript of this podcast is here.

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Payment Systems: Holders

September 11th, 2017 · Comments Off on Payment Systems: Holders · Lawdibles Audio, Negotiable Instruments

In this podcast, Professor Jennifer Martin explains who a holder is, how someone becomes a holder, and why it is important. This topic deals with instruments, typically paper checks and promissory notes. While we might not use instruments frequently, checks and promissory notes are still used in many transactions, particularly larger ones. Moreover, financial fraud remains a problem for attorneys who might be the victim of it themselves or need to counsel clients with respect to enforcement of an instrument. Not only is this a practice issue, but holders are covered in Article 3 of the Uniform Commercial Code, which is tested by a number of states on the bar examination. Holders, particularly when coupled with holders in due course doctrine, are favorites on the bar exam. At the conclusion of this podcast, you should be able to (1) describe what a holder is; (2) describe how a person becomes a holder and why it is important.

A transcript of this podcast is here.

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Payment Systems: Indorsements

September 7th, 2017 · Comments Off on Payment Systems: Indorsements · Lawdibles Audio, Negotiable Instruments

This podcast by Professor Jennifer Martin explains what an indorsement is, the different types of indorsements and why they can be important.  Indorsements are covered in Article 3 of the Uniform Commercial Code, which is tested by a number of states on the bar examination. At the conclusion of this podcast, you should be able to (1) identify the different types of indorsements and describe how to use them; and (2) explain the reason why indorsements are important.

A transcript of the podcast is here.

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Payment Systems: Indorsement Liability and Transfer and Presentment Warranties

September 7th, 2017 · Comments Off on Payment Systems: Indorsement Liability and Transfer and Presentment Warranties · Lawdibles Audio, Negotiable Instruments

The topic of this podcast by Professor Jennifer Martin is when a party that has suffered a loss can shift the loss to another party who indorsed the instrument or who either transferred or presented an instrument for payment. This is important because oftentimes an examination question will simply ask who is liable, which often involves analysis of whether a liable party can shift liability to others. This podcast primarily covers the rules of §§ 3-415 – 3-417. At the conclusion of this podcast you should be able to (1) describe who has indorser liability on an instrument, to whom such liability is owed, and when it can be asserted; and (2) describe which parties may claim breach of transfer and presentment warranties, to whom the warranties are made, and when a breach of the warranty can be asserted.

A transcript of the podcast is here.

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Payment Systems: Introduction

September 7th, 2017 · Comments Off on Payment Systems: Introduction · Lawdibles Audio, Negotiable Instruments

The topic of this podcast by Professor Jennifer Martin is the basic concepts related to payment systems. In particular, this podcast will introduce some of the payment systems, many of which you probably use regularly. At the conclusion of this podcast, you should be able to (1) identify some of the primary payment systems in the United States; and (2) identify some of the statutory and other rules governing these systems.

A transcript of the podcast is here.

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Payment Systems: Who Can Bring a Claim on a Negotiable Instrument

September 7th, 2017 · Comments Off on Payment Systems: Who Can Bring a Claim on a Negotiable Instrument · Lawdibles Audio, Negotiable Instruments

The topic of this podcast by Professor Jennifer Martin is the basics of who can bring which claims on a negotiable instrument and against whom. This is important because oftentimes an examination question will simply ask who is liable. But in practice and sometimes on an examination you will have to answer as to the right of recovery of a specific party. You might also need to discuss which parties will ultimately get stuck with the loss. This podcast will look at claims that might be made by a drawer, maker, drawee bank (sometimes called a payor bank), depositary bank, transferee, and payee. At the conclusion of this podcasts, you will be able to (1) describe who might have claims on an instrument and against which parties.

A transcript of the podcast is here.

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Payment Systems: Credit Cards

September 7th, 2017 · Comments Off on Payment Systems: Credit Cards · Lawdibles Audio, Negotiable Instruments

The topic of this podcast by Professor Jennifer Martin is to introduce the basic attributes of credit cards and how the payment system handles error and fraud. At the conclusion of this podcast, you should be able to (1) identify the primary parties associated with credit card transactions; and (2) identify the applicable legal rules and the defenses of unauthorized charges, billing errors, and contractual defenses.

A transcript of the podcast is here.

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Payment Systems: Debit Cards

September 7th, 2017 · Comments Off on Payment Systems: Debit Cards · Lawdibles Audio, Negotiable Instruments

This podcast by Professor Jennifer Martin introduces students to the basic attributes of debit cards and how the payment system handles error and fraud. Debit cards are governed by the rules of the federal government’s Consumer Financial Protection Bureau (CFPB) contained in Regulation E. This podcast discusses Regulation E, including issuance of debit cards, disclosures, liability for unauthorized transactions, and even overdraft protection. At the conclusion of this podcast, you should be able to (1) identify the primary attributes of debit card transactions; (2) describe the applicable legal rules for their use; and (3) describe the defenses for unauthorized charges, including the rules associated with notice by the consumer to the bank.

A transcript of this podcasts is here.

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