This course will focus its attention on Article 3 of the Uniform Commercial Code. Its purpose will be to provide an in depth study of the law governing promissory notes, drafts, and checks. Although business transactions will be emphasized, consumer related issues, in so far as they involve promissory notes and checks, will also be considered. The law governing bank collections of checks (Article 4 of the Uniform Commercial Code) will be examined only as it relates to Article 3 issues. Because this course involves intensive study of negotiable instruments not possible in the Commercial Code course, students who have taken or wish to take the Commercial Code course and the Sales course may also take the negotiable instruments course with the permission of the instructor.