PAYMENT SYSTEMS A 2013 | | OF 3 3 2 Types of Negotiable Instruments 3 Requirements: Negotiable Instrument 4 THE 7 THE OBLIGATION 7 & 7 8 ON Liability of Makers & Indorsers 8 Liability of Accommodation Parties 9 PARTY & DEFENSES 9 10 10 11 Liability of Principal 11 Liability of Representative 12 HOLDER IN DUE COURSE DOCTRINE 14 (HDC) 14 HDC 14 A 1. HOLDER 14 2. 14 3. GOOD FAITH 15 4. W/O NOTICE 15 18 18 AND Defenses against a HDC 19 Infancy 19 Fraud 19 Actions for Rescission 20 Illegality 20 Discharge of the Obligor in Insolvency Proceedings 20  20 AND AND 21 A AND Defenses Against a Non-HDC 21 Jus Terti Doctirine (Rights of Another) 21 CHECKING ACCOUNT RELATIONSHIP BETWEEN BANK CUSTOMER 23 23 23 23 23 PAYMENT 23 TO Ordinary Checks 23 Bank Checks 23 BANK 23 WRONGDOING 24 24 AND 24
2013 | | 3 3 2 Types of Negotiable Instruments 3 Requirements: Negotiable Instrument 4 7 7 & 7 8 Liability of Makers & Indorsers 8 Liability of Accommodation Parties 9 & 9 10 10 11 Liability of Principal 11 Liability of Representative 12 HOLDER IN DUE COURSE DOCTRINE 14 (HDC) 14 HDC 14 1. HOLDER 14 2. 14 3. GOOD FAITH 15 4. W/O NOTICE 15 18 18 Defenses against a HDC 19 Infancy 19 Fraud 19 Actions for Rescission 20 Illegality 20  Discharge of the Obligor in Insolvency Proceedings 20 20 21 Defenses Against a Non-HDC 21 Jus Terti Doctirine (Rights of Another) 21 THE CHECKING ACCOUNT RELATIONSHIP BETWEEN BANK AND CUSTOMER 23 23 23 23 23 23 Ordinary Checks 23 Bank Checks 23 23 WRONGDOING AND 24 24 24 PAYMENT SYSTEMS A A A OBLIGATION ON THE BANK AND AND AND PAYMENT DEFENSES PARTY OF TO
dodge-payment-systems-hague-fall-2013.docx