Looking back at what you have learned throughout this course, prepare and post your responses to
the following questions in a 5- to 7-slide PowerPoint presentation by Saturday, November 5, 2016.
Prepare a PowerPoint presentation of five-to-seven slides containing the following:
� Of the topics covered, which ones do you believe were most beneficial to you professionally,
personally or academically? (3-4 slides)
� Which topics would you have liked to have covered more in depth and why? (1 slide)
� Describe your overall experience with the course including things you liked and areas that could be
improved. (1 slide)
Topics that were
beneficial to me
professionally, personally
or academically?
UCC was the most beneficial
It’s 1951promulgation was
noted as well
UCC articles 3 and 4 were
particularly important
Negotiation instrument is a
right for a person to get paid
I found the Uniform Commercial Code (UCC) useful. In addition, UCC was promulgated in
1951 and it involves different legal rules concerning a number of vital commercial activities.
In particular, article 3 on negotiation instruments and article 4 on bank deposits and
collections were useful academically, professionally and personally. Negotiation instrument
represents a right to payment of money , and it is different from other documents that are
used as the basis to get payment due to its features of transferability from one individual to
another without considering any obligations of the previous individual who transferred the
instruments. For a transfer to take place, there should be a paper instrument from one
individual to another. In the event that there is an individual indicated as a payee, on the
negotiation instrument that person also needs the endorsement of the payee, however, if the
instrument is made to the “bearer” negotiation takes place only after the paper is delivered
(Twomey, Jennings & Greene, 2016).
Continuation
A holder is a person that
receives the negotiation
instrument
Holder-in-the-due-course is
when the holder does not
comprehend the obligations of
the transferor of the instrument
Holder-in-the-due-course can
get payment without regards to
material defenses
An individual who takes a negotiation instrument upon delivery is considered the holder of
such an instrument. Nonetheless, if the holder does not understand the obligations of the
transferor of negotiation instrument is known as “holder-in-due-course”. As such, the
“holder-in-due-course” can enforce the negotiation instrument and receive payment
without taking into account defenses against enforcement by previous transferor. For
example, in scenario involving Frank, Galvin and Helen based on UCC article 3-407; Helen
was liable to get USD 2,000 from Galvin. This is due to the fact that, Galvin lacked any
material defense (Perry, 2016).
Continuation
Bank’s obligations to handle an item
Transfer of funds beginning from the originator’s bank issuing an order to pay the
beneficiary
Payment order issues\d by the intermediary bank with the object to payment order
Article 4 involves the bank’s responsibility to handle an item with the goal of collection or
payment. This is based on the law where the bank is situated. Moreover, it entails funds
transfer that starts with the originator making a payment order to the beneficiary. Again, it
involves any form of payment order issued by the originator’s bank or an intermediary bank
purposing to execute a payment order (Twomey, Jennings & Greene, 2016). This transfer,
was evidently represented by the scenario between Ken and Jackie. In this case, the bank had
the responsibility to pay Jackie following her grandfather’s death. This is because the check
had Ken’s signature, and legally Jackie has the authority to enforce the instrument to obtain
payment.
Topics that would have been covered in Depth
Types of authority
Title VII
I would prefer to cover the topic on various types of authority in detail. This is necessary
when it comes to gaining an understanding of contract law while recognizing the applicable
authority to entering a contract. Like it was evident in the case involving Luke and Flotech.
Another topic that I would have liked to be covered in detailed is Title VII that prohibits
employment discrimination. A comprehensive analysis of Title VII will demonstrate an
understanding of intentional discrimination of persons in workplaces based on their race,
skin color, religious affiliation, gender or place of origin.
Overall experience
with the course
including areas that
need improvement
UCC is freely transferable
Need to amend UCC articles 3 and 4 because of changes in transactional environment
Address bad case law especially in cases involved pooled instruments
Generally, one of the areas I found interesting was the free transferability element of the
negotiation instrument that differentiates it from other payment documents. However,
based on the changes in modern-day transactional environment, there is a need to amend
UCC articles 3 and 4. For instance, to address the bad case law, revisions clearly shows an
individual that has rightful ownership of the negotiation instrument from another with the
power to enforce it when it get lost. This lessens the issue of parties involved in the
instruction of pooled instruments.
UCC should be amended such that it clearly indicates that payment of the instrument is
made to the individual identified as one with the power to enforce an instrument.
References
Perry, C. (2016). Good faith in English and US contract law: Divergent theories, practical
similarities. Business Law International, 17(1), 27-39,1-2.
