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.
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.
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.
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.
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.
The topic of this podcast by Professor Jennifer Martin is which party will prevail in a competition for collateral as between buyers of the collateral and secured parties. While secured parties might expect to prevail with respect to their collateral most of the time, buyers of goods also have expectations that are protected with respect to their purchases. The rules of Article 9 balance expectations so that buyers get good title to what they buy and have protection from pre-existing security interests in some circumstances.
These rules are commonly tested on law school and bar examinations. At the conclusion of this podcast, you should be able to (1) identify and describe the exceptions that permit a buyer of collateral subject to a security interest to take free of the security interest and prevail over a secured creditor; and (2) apply the rules of common factual presentations concerning buyers.
The topic of this podcast by Professor Jennifer Martin is which party will prevail in a competition for collateral as between sellers and the creditor with a security interest in the debtor’s assets. While secured parties might expect to prevail with respect to their collateral most of the time, sellers of goods to a debtor who have not been paid for the goods also have expectations.
This podcast will examine the rules that come into play in three situations: (1) when a secured creditor has used an after-acquired property clause, or otherwise has a floating lien on inventory, including the retention of title rules of U.C.C. §§ 1-201(b)(35) and 2-401; (2) purchase money security interests under § 9-324; and (3) the seller’s right of reclamation arising under U.C.C. § 2-702.
These rules are commonly tested on law school and bar examinations. At the conclusion of this podcast, you should be able to (1) identify and describe when and how a seller will have to comply with Article 9 in order to protect its interest in goods delivered to a buyer that has not yet paid for the goods; and (2) apply the rules related to purchase money security interests and determine when a seller might have a right of reclamation under Article 2.
The topic of this podcast by Professor Jennifer Martin is which party will prevail in a competition for collateral as between sellers or lenders having a purchase money security interest (“PMSI”) and other creditors with a security interest in the debtor’s assets. While secured parties might expect to prevail with respect to their collateral most of the time, those sellers and lenders that have a purchase money security interest also have expectations.
This podcast will examine the nature of a PMSI and the rules that come into play to determine which creditor has priority under § 9-324. These rules are commonly tested on law school and bar examinations. A PMSI is simply a specific type of security interest. In order to attach the interest, the attachment rules of § 9-203 still apply, At the conclusion of this podcast, you should be able to (1) identify and describe what a PMSI is; (2) describe how a secured party can create and perfect a security interest in purchase money collateral; (3) explain the rules governing priority of PMSIs; and (4) apply the rules related to purchase money security interests, including those related to proceeds.
The topic of this podcast by Professor Jennifer Martin is how a secured creditor goes about maintaining a perfected security interest in order to prevail against others who might claim the same collateral. This topic primarily requires a careful reading of UCC §§ 9-513 and 9-515 and a basic understanding of how a secured party attaches and perfects its security interest in the first place. The basic concepts associated with this podcast are: priority, perfection, lapse, termination, and continuation. Familiarity with these concepts will help you to understand what actions a secured creditor should and sometimes must take to maintain perfection of a security interest. At the conclusion of this podcast, you should be able to (1) describe the basic process of maintaining perfection of a security interest, including the requirements for filing a termination of a financing statement where required; and (2) describe why a secured creditor must make each of these filings.
This podcast by Professor Jennifer Martin evaluates when a transaction described as a “lease” will be considered a sale with a retention of a security interest and covered by Article 9. In particular, it will describe the situations that suggest that a lease is a true lease and those in which the lease is actually a disguised sale. The primary UCC provision associated with this inquiry is § 1-203, which contains the general rules of the road with respect to disguised leases. At the conclusion of the podcast, you should be able to (1) describe transactions that are governed by Article 9 because a disguised sale is actually involved; and (2) describe transactions that are not governed by Article 9 when there is a true lease.
