Book DescriptionHornbook on the Law of Modern Payment Systems and Notes discusses UCC Articles 3, 4 and 4A in detail, and explains to what extent provisions and interpretive cases decided prior to the promulgation of Article 4A and prior to the 1990 revision of Articles 3 and 4 are carried over, and thus are still useful, and why changes made were needed. The book discusses a number of issues not generally recognized and treated elsewhere, including the meaning of the new standard of good faith, the relation between "accountability" and "final payment," and consequences of radical truncation. The book also extensively treats related other law, such as Regulations CC and DD and consumer law, and its relation to the provisions of the UCC, and also the rules for other payment systems, including credit and debit cards, stored value devices and so-called "e-checks."

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