The new edition has been updated throughout and the latest cases included. The problems have been revised to reflect the sorts of disputes arising out of the electronic payment systems prevalent today.

Professor Mann, who recently served as Reporter for the amendments to Articles 3, 4, and 4a of the UCC, brings years of scholarly and teaching experience to Payment Systems.

• The coverage is unparalleled, and in addition to information on negotiable instruments, payments, and credits, includes:
• • Checks, Credit Cards, Debit Cards
  • ACH Transactions, Wire Transfers, Letters of Credit
  • Notes, Guaranties, Securities
• The systems approach is thoughtfully combined with hands-on explanations , and the text and problems focus on the rules that are applied in practice. The author provides detailed practical explanations and analysis of how payment systems actually work.
• Twenty-five assignments present realistic problems that cover the major points students should master for each topic.

The Fifth Edition features:

• Revamped and updated problems that reflect the types of disputes arising out of the new electronic payment systems.
• New cases, including:
• • Wachovia Bank, N.A. v. Foster Bancshares, Inc.--Posner's discussion on the efficiency of check retention plans
  • Triffin v. Third Federal Savings Bank --A forged-check scheme in a New Jersey appellate court provides the first substantive assessment of Check 21
  • In re PTI Holding Corp.--Judge Markell's thoughtful analysis of when a borrower's bankruptcy justifies a stay of actions against guarantors
  • Chemical Bank v. Meltzer--Major opinion on guaranties and subrogation from the New York Court of Appeals
  • Data Sales Co. v. Diamond Z Manufacturing--Arizona appellate opinion on the Restatement of Suretyship
  • Banco Nacional de Mexico v. Societe Generale--Vigorous enforcement of letter of credit by the New York Supreme Court
  • In re Kang Jin Hwang--Judge Bufford's discussion of the enforceability of securitized negotiable promissory notes
  • Korea Export Insurance Corp. v. Audiobahn, Inc.--California appellate decision arising out of a defaulted banker's acceptance transaction
  • Davis v. Stern, Agee andamp; Leach, Inc. and#8211; Alabama Supreme Court's analysis of forged instructions on securities accountsunder UCC Article 8