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The Uniform Commercial Code (U.C.C. or Code) has changed dramatically in recent years and will continue to do so over the next several years. As new articles are added to [...]

The 30th annual survey on the Uniform Commercial Code (UCC) conducted by the 'Business Lawyer' indicates that there is an ongoing need to revise the UCC to ever-changing commercial norms and to address the growing conflict between state and federal commercial laws. Uniformity of state and federal laws would facilitate commerce and remove the uncertainty about regulations which now persists. Such coordination might be achieved through specialized commissions or an executive group which would compare federal developments with those of the various states.

This article reviews the significant legal developments concerning negotiable instruments, bank deposits and collections, and other payment systems which have occurred since the last survey.(1) The first part of the [...]

This article reviews the early history of the holder in due course doctrine in the law of negotiable instruments. It focuses on what the courts at common law meant when they required that a merchant must have purchased an instrument in "due course" in order to be afforded the protection of the doctrine. Before codification, the courts used that phrase to give context to other elements of the definition of holding in due course. In particular, the courts at common law would give a more searching inquiiy of a holder's good faith when the holder acquired the instrument in a transaction that was unusual given the holder's customary course of trade. The Article recommends that the courts today take just such an approach when they are faced with a check cashing service that claims holder in due course status. [ABSTRACT FROM AUTHOR]