negotiable instruments and e money

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1、PARTVNegotiableInstrumentsandE-MoneyCHAPTERCreationofNegotiable22InstrumentsCOMMUNITYBANKManyindividualsandbusinesseshavecheckingaccountsatbanks.Acheckisanegotiableinstrument.NegotiableinstrumentsaregovernedbyRevisedArticle3(NegotiableInstruments)oftheUniformCo

2、mmercialCode(UCC).LearningObjectivesChapterOutlineAfterstudyingthischapter,youshouldbeableto:IntroductiontoCreationofNegotiableInstruments1.Distinguishbetweennegotiableandnonnegotiableinstruments.NegotiableInstruments2.DescribedraftsandchecksandidentifytheCONTE

3、MPORARYENVIRONMENTRevisedArticle3partiestotheseinstruments.(NegotiableInstruments)oftheUCC3.DescribepromissorynotesandcertificatesTypesofNegotiableInstrumentsofdepositandidentifythepartiestotheseCreatingaNegotiableInstrumentinstruments.4.Listtheformalrequiremen

4、tsofanegotiableUnconditionalPromiseorOrdertoPayinstrument.CONTEMPORARYENVIRONMENTOrderInstruments5.DistinguishbetweeninstrumentspayabletoandBearerInstrumentsorderandinstrumentspayabletobearer.FixedAmountofMoneyPayableonDemandorataDefiniteTimeCASE22.1LasVegasSan

5、ds,LLC,dbaVenetianResortHotelCasinov.NehmeNonnegotiableContractINTERNATIONALLAWNegotiableInstrumentsPayableinForeignCurrencyCHAPTER22CreationofNegotiableInstruments359Thegreatobjectofthelawistoencouragecommerce.”“—JudgeChamberBealev.Thompson(1803)Introductionto

6、CreationofNegotiableInstrumentsNegotiableinstruments(orcommercialpaper)areimportantfortheconductnegotiableinstrumentofbusinessandindividualaffairs.Inthiscountry,moderncommercecouldnot(commercialpaper)continuewithoutthem.Examplesofnegotiableinstrumentsincludeche

7、cksAspecialformofcontractthat(e.g.,acheckusedbyabusinesstopurchaseequipment)andpromissorynotessatisfiestherequirementsestab-lishedbyArticle3oftheUCC.(e.g.,anoteexecutedbyaborrowerofmoneytopayfortuition).Theterminstrumentmeansnegotiableinstrument[UCC3-104(b)].Th

8、esetermsareoftenusedinterchangeably.Thetypesofnegotiableinstrumentsandtheircreationarediscussedinthischapter.NegotiableInstrumentsToqualifyasanegotiableinstrument,adocumentm