Commercial and Advanced Contract Law 1
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Commercial and Advanced Contract Law 1 from first year courses in Contracts or Bargain, Exchange and Liability. COMMERCIAL AND ADVANCED The Sales & Leases course examines Article 2 more comprehensively and in greater depth. Coverage may also include letters of credit and CONTRACT LAW guarantees. [Professor Levitin] The commercial law and bankruptcy curriculum builds on the first year Other Advanced Courses (offered courses in Contracts and Bargain, Exchange & Liability to examine four special types of contracts—loans, payments, sales, and leases—that occasionally) are the backbone of most business transactions—as well as the system Advanced Contract Law covers topics in contract law not covered by for allocating losses when a firm or individual is unable to meet its the standard first year courses in Contracts or Bargain, Exchange and financial obligations. The courses addressing these topics seek to expose Liability or covers familiar contracts topics in greater depth. Among students to a range financial products and transactions, and cover not topics typically covered are conditions; conditional gifts; assignment only their legal and economic frameworks, but also their business and and delegation; third-party beneficiaries; bailments; promissory institutional structures. These courses are foundational for students fraud. Structured Finance is a capstone course that covers securitization who expect to represent business clients in litigation, transactional, or —the transformation of debts into securities. Securitization has become bankruptcy work. the major way that consumer credit (mortgages, credit cards, auto loans, student loans) is financed, and is also an increasingly important part There are four basic classes in the area: Bankruptcy; Commercial Law: of funding business lending. Structured Finance builds on the various Secured Transactions; Payment Systems; Sales & Leases. These courses other parts of the commercial law curriculum, including Commercial are offered in variations that range from two to four credits, as well as Finance and Payments, as well as incorporating corporate law, tax, in a combination course covering credit and payments. Bankruptcy and accounting, and financial institutions regulation. The course introduces Commercial Law: Secured Transactions area the central courses in the students to the basic legal and economic structure of securitization commercial law curriculum, with Payments and Sales & Leases being transactions, the institutional framework for the transactions, and the more specialized. While there is some overlap between Bankruptcy and policy issues raised by securitization. [Professor Levitin] Commercial Law: Secured Transactions, they are distinct courses. Basic Courses Related Courses In addition to these basic commercial law courses, many other offerings Bankruptcy or Financial Restructuring (3 or 4 credits) introduces students examine important and interesting facets of commercial law. to the law of insolvency and debt restructuring. The Bankruptcy course covers both consumer and business bankruptcy; Financial Consumer Finance bridges the commercial law curriculum with the Restructuring covers solely business bankruptcy and in greater depth. financial regulatory curriculum. Consumer spending accounts for An understanding of bankruptcy law is important for anyone whose 70% of the US's GDP. It is a big business, but one made up of many practice includes the representation of business clients, as bankruptcy small transactions. The course covers the law, economics, and market law serves as a background term for all virtually business transactions. structures of the major consumer financial products used for payments The Bankruptcy course pays particular attention to the social policy and credit, as well as some types of savings and insurance products. It issues involved in consumer bankruptcy, while the Financial Restructuring also gives particular attention to the regulatory roles of the Consumer course covers not only bankruptcy, but also debt restructuring outside Financial Protection Bureau, various bank regulators, state attorneys of bankruptcy. (A prior or concurrent course in Commercial Law: Secured general, and private litigation. [Professor Levitin] Additionally, the Transactions is strongly recommended.) [Professors Levitin and Fleming] offerings in Consumer Debt and Bankruptcy Seminar, Finance of Real and Personal Property, Drafting and Negotiating Commercial Transactional Commercial Law: Secured Transactions (3 credits) covers the law, Documents, Drafting and Negotiating Commercial Real Estate Documents: economics, business strategy, and institutional structures for loans, the Real Estate Contracts, Loan Documents, and the Commercial Lease, primary way businesses finance themselves other than through securities and Government Contracts deal with important, specialized types of markets. In particular, the course focuses on the laws governing loans commercial transactions and documents. secured by collateral, typically Article 9 of the Uniform Commercial Code and state real property law. The course serves as an introduction Search Commercial and Advanced Contract Law Courses (http:// to a variety of financing transactions and to creditor-debtor relations curriculum.law.georgetown.edu/course-search/?cluster=cluster_6) generally. [Professors Fleming, Jordan, Gelpern, and Levitin] Payment Systems (2 or 3 credits) covers the law, economics, and institutional structures of modern payment systems: cash, checks, electronic fund transfers (debit and ACH), credit cards, and wire transfers. Central issues considered are credit risk, liability for error or unauthorized transactions, funds availability, and systemic risk. Payments law is governed primarily by various federal regulations and Articles 3, 4, and 4A of the Uniform Commercial Code. [Professors Coleman-Jordan and Levitin] Sales & Leases (2 or 3 credits) covers law and economics of the sale or leases of goods under Articles 2 and 2A of the Uniform Commercial Code and under the Convention on Contracts for the International Sale of Goods. Students will be familiar with some provisions of Article 2 2 Commercial and Advanced Contract Law LAW 888 v00 Advanced International Commercial Arbitration: Practice LAW 1623 v00 Advanced Legal Writing: Intellectual Property and Seminar (http://curriculum.law.georgetown.edu/course-search/? Technology Transactions (http://curriculum.law.georgetown.edu/course- keyword=LAW%20888%20v00) search/?keyword=LAW%201623%20v00) LL.M Seminar (cross-listed) | 3 credit hours J.D. Seminar | 3 credit hours The seminar will be a combination of the theoretical and practical This three-credit seminar offers an opportunity for J.D. students aspects of international commercial arbitration, with an emphasis on interested in transactional practice to hone their legal writing, negotiating, the practical. Its centerpiece will be the handling of a mock international and real-world transactional skills in a small workshop environment. arbitration case from the drafting of the arbitration agreement to the Students will review, write and analyze a variety of transactional drafting of a final award, with units in between on the appointment and documents – including full-length contracts, unique contractual challenge of arbitrators, discovery of documents, and a live arbitration provisions, and simulated client correspondence – and will develop hearing. Teams of students will participate (as counsel to the parties) individualized goals for improving their writing and transactional skills in the negotiation of arbitration agreements, in the drafting of motions throughout the semester. While this course will teach drafting, deal- and replies, in oral argument on such issues as the disqualification of structuring, negotiation, and related skills that are generally applicable arbitrators and the production of documents in discovery, in the hearing for any type of deal or transactional practice, it will focus on intellectual in a case, and in brief writing. Playing the role of arbitrators, students will property and technology transactions and will teach those skills through also write final arbitral awards. a semester-long simulation based on a fictional startup company. The course will also focus on improving students' abilities to critically assess To the extent time permits, the course will also consider a handful of their own and others' legal writing and to provide helpful feedback to the many difficult and, to a large extent, still unanswered questions colleagues in a professional setting. Students will receive peer critique of national and international law that are emerging as the practice of during most classes, as well as individualized feedback from the international arbitration expands, including choice of law issues and, professor on most drafts of documents. particularly in the United States, issues of the relation between federal and state laws. Professor permission is not required. Background in intellectual property or technology is not required. The course will be limited to 12 students. It will meet once a week for two hours. There will be no final exam. Participation in the in-class exercises and simulations will be a key component of student evaluation. Prerequisite: A general course in international commercial arbitration. Students not having this precise prerequisite but having had a course in Learning Objectives: arbitration generally or substantial law practice experience in arbitration may apply for admission to