This fully revised 7th Edition will give students a comprehensive introduction to the Uniform Commercial Code without burdening them with unnecessary detail: Articles 1 and 2 (sales), Articles 3, 4, 4A and 5 (payment systems), and Article 9 (secured transactions), as well as related statutes, amendments, regulations, and operating rules. The new edition deals not only with the 1999 revisions to Article 9 but also with the recent revisions to Article 1. This edition also addresses the earlier revisions to Articles 5, 3, and 4. It has limited coverage of the failed attempt to revise Article 2. A reference volume relied on by students, courts, and business lawyers for decades, the 7th Edition has been updated in light of modern practice and provides a useful resource for students and practitioners dealing with issues in sales, contracts, secured transactions, and payment systems.

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.

The casebook was designed for four-hour, one-semester courses. It includes introductions that quickly orient students within unfamiliar territories. Cases present both the doctrine applied and, in some instances, the shortcomings of that doctrine. The authors express their disagreement about basic issues, so that students can experience the range of possible views in modern contract law. Contemporary subjects, such as form contracts, the modern concept of unconscionability, the rise of arbitration, and the increasing importance of computers in commercial transactions, are given considerable emphasis.