Department: Bachelor of Law
Module Description: This module covers commercial papers and banking transactions. In the first part it covers definition of commercial papers, their types, advantages and their main characteristics. The creation of commercial papers and their formal and substantial elements will be discussed. The module will cover also the negotiability and transfer of title of commercial papers. The legal and illegal payment of a commercial paper will be covered with special emphasis on cheques more than bill of exchange and promissory notes. The liability of drawer and indorser/ and other signatory parties will be analysed in cases of dishonour of a paper. The formal and substantial defences against the holder of the paper will be discussed in addition to the relationship between rights in the paper and rights of the original source of obligations. The second part will cover selected banking transactions in addition to the general relationship between bank and customer.
The module coordinator will provide students with mandatory texts on UAE Law prepared purposefully for this particular module.