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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.",{"@graph":69,"@context":123},[70,84,106],{"@type":71,"itemListElement":72},"BreadcrumbList",[73,77,79,82],{"item":74,"name":75,"@type":76,"position":8},"https://docshare.wps.com","Home","ListItem",{"item":78,"name":9,"@type":76,"position":14},"https://docshare.wps.com/document/",{"item":80,"name":20,"@type":76,"position":81},"https://docshare.wps.com/document/exam/",3,{"item":83,"name":65,"@type":76,"position":19},"https://docshare.wps.com/document/secured-transactions-and-commercial-paper-george-washington-university-law-school-past-examinations-course-no-6181-4-credits/320586/",{"url":83,"name":65,"@type":85,"image":86,"author":91,"headline":65,"publisher":94,"fileFormat":97,"inLanguage":63,"description":67,"dateModified":98,"datePublished":99,"encodingFormat":97,"isAccessibleForFree":100,"interactionStatistic":101},"DigitalDocument",{"url":87,"@type":88,"width":89,"height":90},"https://docshare.wps.com/thumbnails/secured-transactions-and-commercial-paper-george-washington-university-law-school-past-examinations-course-no-6181-4-credits/320586.png","ImageObject",300,407,{"name":92,"@type":93},"Fez","Person",{"url":74,"name":95,"@type":96},"DocShare","Organization","application/pdf","2026-10-22","2026-09-21",true,{"@type":102,"interactionType":103,"userInteractionCount":105},"InteractionCounter",{"@type":104},"ViewAction",11,{"@type":107,"mainEntity":108},"FAQPage",[109,115,119],{"name":110,"@type":111,"acceptedAnswer":112},"What U.C.C. topics does the exam generally cover across its problems?","Question",{"text":113,"@type":114},"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.","Answer",{"name":116,"@type":111,"acceptedAnswer":117},"What are the exam instructions regarding time, materials, and assumptions?",{"text":118,"@type":114},"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.",{"name":120,"@type":111,"acceptedAnswer":121},"How does the exam handle statutes of limitations and the operative Uniform Commercial Code version?",{"text":122,"@type":114},"The exam instructs that no statute of limitations applies to any of the problems. 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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) .  \nThe George Washington December 7, 2017  \nUniversity Law School  \nFinal Examination In  \nSECURED TRANSACTIONS & COMMERCIAL PAPER  \n(Course No . 6281-10; 4 credits)  \nProfessor Gregory E . Maggs  \nInstructions:  \nAbsent special arrangements, you have 3 hours to complete this examination .  \nThe 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) .  \nEach problem includes several specific questions . Points will be allocated among the questions within a problem according to their difficulty .  \nThis is an open-book examination . In completing the examination, you may use any written materials that you have brought with you .  \nYou 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 .  \nAssume 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 .  \nSUGGESTIONS: Keep your answers brief or you will run out of time . Draw a diagram of each transaction to avoid confusion .  \nYou may keep this copy of the examination at the end of the examination period .  \nGood luck!  \nPROBLEM I. (26 points)  \nThe following edited excerpt comes from a recent case:  \nIn March, USIF issued a check for $848 for  \ndisability benefits to Pinero . On April 24, Pinero  \ncontacted USIF and reported he had not received the  \ncheck . 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 .  \nOn the back of the check appears what purports tobe Pinero's signature, endorsing the instrument in  \nblank .  \nBecause of USIF's stop payment order, the Republic Bank of Chicago dishonored the check when PCC presentedit for payment .  \n[Assume that Pinero's indorsement was forged and  \nthat Republic Bank returned the check to PCC after  \ndishonoring it . ]  \nOn the basis of these facts, answer the following questions and briefly explain your answers:  \nA . What rights, if any, does PCC have against USIF, Pinero, the forger, and Republic Bank?  \nB . May Pinero or USIF recover from PCC for conversion?  \nC . What rights, if any, does Pinero have against USIF?  \nD . 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?  \nPROBLEM II. (26 points)  \nThe following edited excerpt comes from a recent case:  \nIn 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 .  \nWright's c","cbCainnIXzjfSena","https://ap.wps.com/l/cbCainnIXzjfSena","pdf",147896,37,"English","# Instructions and Exam Overview\n## Course scope by U.C.C. articles\n## Exam format, rules, and assumptions\n# Problem I\n## Rights and remedies among multiple parties\n# Problem II\n## Election qualifying check and bank/city obligations\n# Problem III\n## Joint account endorsements and reimbursement scenario","[{\"question\":\"What U.C.C. topics does the exam generally cover across its problems?\",\"answer\":\"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.\"},{\"question\":\"What are the exam instructions regarding time, materials, and assumptions?\",\"answer\":\"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.\"},{\"question\":\"How does the exam handle statutes of limitations and the operative Uniform Commercial Code version?\",\"answer\":\"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.\"}]","SECURED TRANSACTIONS AND COMMERCIAL PAPER - George Washington University Law School - Past Examinations (Course No. 6181; 4 credits) | PDF",1789950226,93]