SECURED TRANSACTIONS AND COMMERCIAL PAPER - George Washington University Law School - Past Examinations (Course No. 6181; 4 credits)

Sep 21, 2026

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Past Examinations for Secured Transactions and Commercial Paper (Course No. 6181; 4 credits) from The George Washington University Law School, including final exams administered on Dec 7, 2017; May 4, 2017; Dec 15, 2015; and Apr 30, 2015. The exam set addresses commercial paper under U.C.C. arts. 3 and 4, secured transactions under U.C.C. art. 9, and letters of credit under U.C.C. art. 5, with problems I–VII covering multiple fact patterns. The materials include detailed instructions, open-book exam rules, time and scoring guidance, and problem prompts requiring legal analysis and allocation of rights and remedies among parties.

LanguageEnglish

CategoryExam

FormatPDF

Pages37

Reading Time1 h 33 min

AccessFree to download

Instructions and Exam Overview

Course scope by U.C.C. articles

Exam format, rules, and assumptions

Problem I

Rights and remedies among multiple parties

Problem II

Election qualifying check and bank/city obligations

Problem III

Joint account endorsements and reimbursement scenario

The George Washington Spring 2020 University Law School Past Examinations in SECURED TRANSACTIONS AND COMMERCIAL PAPER (Course No . 6181; 4 credits) This document contains the final examinations in Secured Transactions and Commercial Paper that were given on the following dates : Dec 7 , 2017 May 4 , 2017 Dec 15 , 2015 Apr 30 , 2015 In these examinations , problems I-III generally concern commercial paper under U .C .C . arts . 3 and 4 ; problems IV-VI generally concern secured transactions under [U.C.C. art. 9](U.C.C. art. 9); and problem VII generally concerns letters of credit under U .C .C . art . 5 . I did not teach this course on any other dates . But I have posted additional exams and grading guides for Commercial Paper (Course No. 6182) at [http://maggs.us/gwlaw/home.htm](http://maggs.us/gwlaw/home.htm) . The George Washington December 7, 2017 University Law School Final Examination In SECURED TRANSACTIONS & COMMERCIAL PAPER (Course No . 6281-10; 4 credits) Professor Gregory E . Maggs Instructions: Absent special arrangements, you have 3 hours to complete this examination . The examination consists of 7 problems worth a total of 180 points . You should budget your time according to the points assigned to each problem (3 hours = 180 minutes) . Each problem includes several specific questions . Points will be allocated among the questions within a problem according to their difficulty . This is an open-book examination . In completing the examination, you may use any written materials that you have brought with you . You should make reasonable assumptions about any facts not stated in the problems . If you find aspects of the problems ambiguous, describe the ambiguity in your answer, and explain why the ambiguity matters . Assume that no statute of limitations applies to any of the problems . Otherwise assume that the current official version of the Uniform Commercial Code applies, regardless of any dates or jurisdictions indicated . SUGGESTIONS: Keep your answers brief or you will run out of time . Draw a diagram of each transaction to avoid confusion . You may keep this copy of the examination at the end of the examination period . Good luck! PROBLEM I. (26 points) The following edited excerpt comes from a recent case: In March, USIF issued a check for $848 for disability benefits to Pinero . On April 24, Pinero contacted USIF and reported he had not received the check . That same day, USIF directed its bank to stop payment on the check . Despite the stop payment order, on May 3, the original check was cashed at Pennsauken Check Cashing (PCC), a licensed check cashing business . On the back of the check appears what purports tobe Pinero's signature, endorsing the instrument in blank . Because of USIF's stop payment order, the Republic Bank of Chicago dishonored the check when PCC presentedit for payment . [Assume that Pinero's indorsement was forged and that Republic Bank returned the check to PCC after dishonoring it . ] On the basis of these facts, answer the following questions and briefly explain your answers: A . What rights, if any, does PCC have against USIF, Pinero, the forger, and Republic Bank? B . May Pinero or USIF recover from PCC for conversion? C . What rights, if any, does Pinero have against USIF? D . If USIF had not ordered Republic Bank to stop payment, and Republic Bank had paid the check, what rights, if any, would Republic Bank have against USIF, Pinero, the forger, and PCC? PROBLEM II. (26 points) The following edited excerpt comes from a recent case: In February, Wright properly opened a campaign account with Wells Fargo Bank to run in the election for the office of Mayor . The qualifying period for this election terminated on June 2. On June 1, Wright tendered to the City Clerk, a check issued on the Wells Fargo Bank campaign account in the amount of $620.00, which was the qualifying fee . Wright's c

FAQs

What U.C.C. topics does the exam generally cover across its problems?

Problems I–III focus on commercial paper under U.C.C. arts. 3 and 4. Problems IV–VI generally focus on secured transactions under U.C.C. art. 9, while Problem VII generally concerns letters of credit under U.C.C. art. 5.

What are the exam instructions regarding time, materials, and assumptions?

Students have 3 hours to complete the examination, which includes 7 problems worth 180 points. It is an open-book exam allowing any written materials brought to the exam, and students should make reasonable assumptions about facts not stated. If problems are ambiguous, students must describe the ambiguity and explain why it matters.

How does the exam handle statutes of limitations and the operative Uniform Commercial Code version?

The exam instructs that no statute of limitations applies to any of the problems. Otherwise, students should assume the current official version of the Uniform Commercial Code applies, regardless of any dates or jurisdictions indicated.

Sep 21, 2026

Uploaded by Fez