1. Commercial Paper Law Course

Commercial Paper Law Course

Commercial Paper (Intro)

What is “Commercial Paper”?

What are the common types of commercial paper?

Who is a “holder” of a negotiable instrument?

What is “negotiability” and why is it important?

What is required for commercial paper to be “negotiable”?

When does commercial paper contain an “unconditional promise to pay?

What is “payable on demand” or “payable on time”?

What is “order paper” and “bearer paper”?

How is a payee identified on the negotiable instrument?

What rules does the court apply in determining negotiability?

How is commercial paper negotiated to a holder?

What is “transfer” of a negotiable instrument?

What is “indorsement” of a negotiable instrument?

What are the various types of indorsement?

How does a holder receive payment on a negotiable instrument?

Who is potentially liable on (or obligated to pay) a negotiable instrument?

When is an individual liable for a representative signing a negotiable instrument?

What rules apply if a holder loses a negotiable instrument?

When is payment of a negotiable instrument overdue?

What effect does a negotiable instrument have on the underlying obligation?

What is a “holder in due course”?

What are the requirement for a holder to become a holder in due course?

How does discharge of the “underlying obligation” affect a holder in due course?

What is the “Shelter Rule”?

Can you limit a transferee from becoming a holder in due course?

What are defense of a payor against payment of a negotiable instrument?

What is a “claim in recoupment”?

What are the rights of a holder in due course if the instrument involves a consumer transaction?

What happens if a negotiable instrument is “forged”?

What happens if a negotiable instrument is “stolen”?

What is the role of a “guarantor” or “surety” of a negotiable instrument?

What is an “accord & satisfaction”?

What is primary and secondary liability on an instrument?

What is “drawer or maker liability” for a negotiable instrument?

What is “transferor warranty” of a negotiable instrument?

What is “indorser warranty” of a negotiable instrument?

What is “presentment warranty” of a negotiable instrument?

What is a warrantor’s liability for a dishonored note or draft?

What is the time limitation for warranty of a negotiable instrument?

When are the warranties of a negotiable instrument discharged?