It provides students with an opportunity to think about the multi-party issues that arise in the context of sales transactions. This examination includes a discussion of letters of credit, bills of lading, warehouse receipts, banker's acceptances and other methods of sales financing. An Introduction to the UCC or permission of the instructor is a pre-requisite. Secured Transactions introduces students to the security interest, one of the principal methods of financing sales and extensions of credit, and also explores the relationship between state commercial law and the federal law of bankruptcy. An Introduction to the UCC or permission of the instructor is a pre-requisite.
Bankruptcy explores the liquidation and reorganization of debt in the American economy.
In addition, students may elect to participate in the law school's pro bono Bankruptcy Practice Clinic, for which completion of the Bankruptcy course is not a prerequisite. Commercial Paper and Payment Systems serve as capstone courses in the commercial law sequence. Commercial Paper explores the principles governing checks, drafts, and promissory notes, and introduces the basic notions involved in the bank collection of checks. Commercial Paper is open to students having taken one other commercial course. Payment Systems, for which Commercial Paper is a prerequisite, continues the exploration of bank collections and also examines Electronic Funds Transfers, the Documentary Transaction, and the law governing payment by Credit Cards.