Course Basics

Course: JURI 4170

Instructor: Kevin Erwin

When: Mondays, 9:00 - 10:50 AM

Where: Room J

Contact Information

Telephone: (678) 230-9540

Email: mail@kevinerwin.com

Office Hours: I do not have any set office hours, but I usually will hang around for a few minutes or so after each class. This is honestly the best way to contact me, as my inbox is usually in some state of crisis.

If you have something urgent that you need to make sure that I see, you can text me at the number above.

Course Information

Overview

This course will be an overview of different mechanisms for making payments. Building off an initial focus on negotiable instruments (e.g.,checks), the course will dive into other payment systems, including credit cards, debit cards, ACH payments, wire transfers, and emerging issues with the regulation of mobile payments and digital assets. We’ll address uniform state laws (e.g., UCC Articles 3, 4, and 4A), applicable federal statutes and regulations (e.g., the Truth-in-Lending Act, the Electronic Fund Transfers Act, etc.), as well as proprietary network rules and regulations.  We’ll also spend a lot of time talking about just who actually regulates what.

In looking at these different payment methods, we’ll consider how risk is allocated among the different participants, claims and defenses on the underlying contracts established between those participants, and how these elements combine to build overall framework.

Objectives

Beyond the specifics of payments, the course is designed to give students a perspective on practicing as a regulatory lawyer (especially as an in-house regulatory lawyer), with a focus on statutory analysis and how to effectively translate analysis into practical, effective counseling.

While we’re going to set out to learn the basis of payments, the real goal of the class is to help develop your ability to navigate a regulatory regime, communicate an answer in way that is actionable and helpful for your client, and understand the difference between giving an answer and giving advice.

Course Materials

Casebook

The casebook for the class is Payment Systems and Other Financial Transactions (8th ed.) by Ronald J. Mann. We’ll also be using the Comprehensive Commercial Law: 2024 Statutory Supplement.

For a number of topics, we’ll be using other, supplementary materials. I’ll make those materials available on the course website (more on that below).

Recommended Background Materials

I also highly recommend, but don’t require, Payments Systems in the U.S.: A Guide for the Payments Professional (3rd ed.) by Carol Coye Benson, Scott Loftesness, and Russ Jones. This is a great foundational reference guide for payments generally.

Course Website

I used teaching this class as an excuse to buy www.kevin-erwin.com.

Assuming I’m actually able to navigate building this website, I will use it website to share materials I prepare for the course, supplementary readings outside of the casebook, and other items.

Requirements

Class Participation

Class preparation and participation are mandatory.  Adequate preparation requires reading and thinking about the assigned materials for each class.  Although the syllabus does not break assignments down by specific class dates, you should read at the pace we progress in class in order of the topics and pages listed.

Attendance

Class attendance is required.  Pursuant to school policy, you may be absent up to two times this semester without penalty.  If you have more than two absences, however, I will discuss the reasons for your absences with you before taking appropriate action.  If you are unsure about your number of absences, please let me know.

Grading

Your course grade will be based on the final examination, subject to a possible class participation adjustment as noted below.

I reserve the right to raise a student’s grade based on exemplary class participation (measured by quality, not quantity) or to lower a student’s grade based on numerous absences, lack of preparation, or excessive and inappropriate Internet use during class time.

Course Outline and Reading Assignments

Generally

This course outline is a general plan for the course; deviations may be necessary, and will be announced.

Moreover, the assignments below do not necessarily correspond to each class period.  Some will take one class period or less to discuss while others may take multiple class sessions.

Whenever there are changes or additions to the reading assignments, I will make an announcement at the beginning of class before the topic will be discussed.  If you miss class, please check with a classmate for any possible announcements.

Note About Assignments in Course Book

For each assignment in the course book below, make sure to do—and be prepared to discuss—the problem sets at the end. This is part of each assignment.

First Reading Assignment

For the first class on January 13, 2025, please read the assignments for checks (assignments 8, 9, and 10 in the course book).

Topics and Reading Assignments

  1. Payments Basics

    1. Checks

      1. Assignment 8

      2. 1.1.2.Assignment 9

      3. 1.1.3.Assignment 10

    2. Automated Clearing House (ACH)

      1. 1.2.1.Assignment 5

    3. Wires

      1. 1.3.1.Assignment 11

      2. 1.3.2.Assignment 12

      3. 1.3.3.Assignment 13

      4. 1.3.4.Assignment 14

    4. Debit & Prepaid Cards

      1. 1.4.1.Assignment 3

      2. 1.4.2.Assignment 4

    5. Credit Cards

      1. 1.5.1.Assignment 1

      2. 1.5.2.Assignment 2

  2. Regulator Overview

    1. Reading materials TBD

  3. Recent Payments Developments

    1. Mobile Payments

      1. 3.1.1.Reading materials TBD

    2. Money Transmission

      1. 3.2.1.Reading materials TBD

    3. Crypto / Digital Assets

      1. 3.3.1.Reading materials TBD

    4. Buy Now, Pay Later

      1. 3.4.1.Reading materials TBD

  4. Commercial Implications for Payments

    1. Credit Enhancements

      1. 4.1.1.Assignment 15

      2. 4.1.2.Assignment 16

    2. Letters of Credit

      1. 4.2.1.Assignment 17

      2. 4.2.2.Assignment 18

      3. 4.2.3.Assignment 19

  5. Negotiable Instruments

    1. Assignment 20

    2. Assignment 21

    3. Assignment 22

    4. Assignment 23

Additional Information

Law School Honor Code

All work done in this course is subject to the University of Georgia Law School Honor Code and Plagiarism Policy and the University of Georgia Non-Discrimination and Anti-Harassment Policy.

Mental Health and Wellness Resources

If you or someone you know needs assistance, you are encouraged to contact Chantelle Tickles, the law school Director of Student Affairs at 706-542-5167 or Chantelle.Tickles@uga.edu. You may also contact Student Care and Outreach in the Division of Student Affairs at 706-542-7774 or visit https://sco.uga.edu. They will help you navigate any difficult circumstances you may be facing by connecting you with the appropriate resources or services.

UGA has several resources for a student seeking mental health services (https://www.uhs.uga.edu/bewelluga/bewelluga) or crisis support (https://www.uhs.uga.edu/info/emergencies). If you need help managing stress anxiety, relationships, etc., please visit BeWellUGA (https://www.uhs.uga.edu/bewelluga/bewelluga) for a list of FREE workshops, classes, mentoring, and health coaching led by licensed clinicians and health educators in the University Health Center.