Provides law students with an in-depth introduction to the UCC without burdening them with unnecessary detail. Citations have been used to enable the reader to understand the kinds of cases that might be presented under particular provisions of the Code. The materials cover payment systems under UCC Articles 3, 4, 4A, and 5, as well as related statutes, regulations, and operating rules governing negotiable instruments, the banking system, the Federal Reserve, clearinghouses, electronic payments, and letters of credit.