Main Content
Syllabus
The information contained on this page is designed to give students a representative example of material covered in the course. Any information related to course assignments, dates, or course materials is illustrative only. For a definitive list of materials, please check the online catalog 3-4 weeks before the course start date.
B LAW444: Advanced UCC and Commercial Transactions (3): All articles of the Uniform Commercial Code, banking relationships, debtor- creditor law, and bankruptcy law. Prerequisites: B LAW 341, B A 241 or B A 243; ACCTG 211; and FIN 301 or B A 301
Overview | Objectives | Materials | Library Resources | Technical Requirements | Course Requirements and Grading | Course Schedule | Assignments | Academic Integrity | Accomodating Disabilities | Additional Policies
Overview
This course is designed to: (a) provide a systematic study of the laws governing sales transactions, the instruments for financing those transactions and rights and liabilities of debtors and creditors (the Uniform Commercial Code governs these issues); (b) explore current trends in the law affecting commercial transactions; (c) develop further the student’s legal reasoning processes; (d) enhance the student's ability to identify legal issues from the business decision maker’s and financial auditor’s perspectives.
Student progress and mastery of the material will be evaluated through periodic examinations. Some state C.P.A. Boards require completion of this course as a prerequisite to obtaining certification as a public accountant.
Course Objectives
Upon sucessful completion of this course, you will be able to:
- Understand the laws governing sales transactions; Apply the instruments for financing those transactions; and evaluate the rights and liabilities of debtors and creditors.
- Identify and describe current trends in the law affecting commercial transactions.
- Interpret and analyze legal processes.
- Recognize legal issues from the business decision maker's and financial auditor's perspectives.
Required Course Materials
Most World Campus courses require that students purchase materials (e.g., textbooks, specific software, etc.). To learn about how to order materials, please see the Course Materials page. You should check LionPATH approximately 3–4 weeks before the course begins for a list of required materials.
Library Resources
Many of the University Libraries resources can be utilized from a distance. Through the Libraries website, you can
- access magazine, journal, and newspaper articles online using library databases;
- borrow materials and have them delivered to your doorstep—or even your desktop;
- get research help via email, chat, or phone using the Ask a Librarian service; and
- much more.
You must have an active Penn State Access Account to take full advantage of the Libraries' resources and service. The Off-Campus Users page has additional information about these free services.
Technical Requirements
| Operating System | Canvas, Penn State's Learning Management System (LMS), supports most recent versions of Microsoft Windows and Apple Mac operating systems. To determine if your operating system is supported, please review Canvas' computer specifications. |
|---|---|
| Browser | Canvas supports the last two versions of every major browser release. It is highly recommended that you update to the newest version of whatever browser you are using. Note: Cookies must be enabled, and pop-up blockers should be configured to permit new windows from Penn State websites. |
| Additional Canvas Requirements | For a list of software, hardware, and computer settings specifically required by the Canvas LMS, please review Canvas' computer specifications. |
| Additional Software | All Penn State students have access to Microsoft Office 365, including Microsoft Office applications such as Word, Excel, and PowerPoint. |
| Hardware | Monitor: Monitor capable of at least 1024 x 768 resolution |
| Mobile Device (optional) | The Canvas mobile app is available for versions of iOS and Android. To determine if your device is capable of using the Canvas Mobile App, please review the Canvas Mobile App Requirements. |
Student Education Experience Questionnaire (SEEQ)
During the semester you will receive information for completing the Student Education Experience Questionnaire (SEEQ). Your participation is an opportunity to provide anonymous feedback on your learning experience. Your feedback is important because it allows us to understand your experience in this course and make changes to improve the learning experiences of future students. Please monitor email and course communications for links and availability dates.
If you need technical assistance at any point during the course, please contact the Service Desk.
For registration, advising, disability services, help with materials, exams, general problem solving, visit World Campus Student Services!
Course Requirements and Grading
| Assignment | Points | Grade Percentage |
|---|---|---|
| Written Legal Analysis
(30 points each) |
420 | 42% |
| Contribution to Learning and Participation in Discussion Forums (20 points each) | 280 | 28% |
| Final UCC Analysis Paper | 200 | 20% |
| Cumulative Exam | 100 | 10% |
| Total | 1000 | 100% |
Letter grades will be based on the following scale:
| Letter Grade | Percentage |
|---|---|
| A | 93.0 - 100% |
| A- | 90.0 - 92.99% |
| B+ | 87.0 - 89.99% |
| B | 83.0 - 86.99% |
| B- | 80.0 - 82.99% |
| C+ | 77.0 - 79.99% |
| C | 73.0 - 76.99% |
| C- | 70.0 - 72.99% |
| D | 60.0 - 69.99% |
| F | 0 - 59.99% |
Assignments
You will be expected to complete a written legal analysis for each lesson throughout the course. The written legal analysis, also known as a legal case brief, is a student's interpretation of the Court's Decision and it's implications to the law, specifically the Uniform Commercial Code. You will be expected to complete and submit a legal analysis for one case per lesson. Please be sure to review the written legal analysis and citation instructions.
Click the following button to show the grading rubric for the written legal analysis.
In addition to the written legal anaylsis, you will be expected to complete a discussion for each lesson throughout the course.
Click the following button to show the grading rubric for the Discussion-Based Legal Analysis.
UCC Analysis Paper
Your final UCC Analysis should be structured in the same format as your written legal analyses. Therefore, it should include issue, facts, anaylsis, and conclusion. The questions and components you should include in your final analysis include:
- What parts of the U.C.C are good?
- What are the aspects that help merchants and non-merchants meander throught the complex web of sale of goods?
- What parts of the U.C.C are not good, and why?
- What aspects of the U.C.C. might be missing?
It is your project to go through the Uniform Commerical Code and discuss the issues and facts as well as critically analyze and conclude what you like, what you don't like, where we need to fill in gaps, and what areas we may need to take out.
Cumulative Exam
You will be tested on your understanding of the Uniform Commercial Code and it's application to the Uniform Certified Public Accounting Exam by completing the cumulative exam.
Late Policy
Students who cannot submit assignments on time because of emergency, unexpected events, or extreme illness should contact the instructor BEFORE THE DUE DATE or as soon as circumstances allow and ask for consideration. Unless arrangements are made with the instructor, late assignments WILL NOT be accepted. If a late assignment is accepted, up to a 10% per day grade deduction may be taken, depending on the circumstances
The schedule below outlines the topics we will be covering in this course, along with the associated time frames and assignments.
Lesson 1: Introduction to Uniform Commercial Code and Contracts
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Lesson 2: Contract Law
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Lesson 3: Property Interests
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Lesson 4: Warranty/Products Liability
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Lesson 5: Performance
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Lesson 6: Remedies
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Lesson 7: Rights of Third Parties
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Lesson 8: Leases of Goods
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Lesson 9: Documents of Title and Letters of Credit
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Lesson 10: Negotiable Instruments
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Lesson 11: Outstanding Rights and Liability of the Parties
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Lesson 12: Secured Transactions and Perfection
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Lesson 13: Priorities and Default
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Fall Break
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Lesson 14: Cumulative Exam
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Lesson 15: UCC Analysis
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Academic Integrity
According to Penn State policy G-9: Academic Integrity , an academic integrity violation is “an intentional, unintentional, or attempted violation of course or assessment policies to gain an academic advantage or to advantage or disadvantage another student academically.” Unless your instructor tells you otherwise, you must complete all course work entirely on your own, using only sources that have been permitted by your instructor, and you may not assist other students with papers, quizzes, exams, or other assessments. If your instructor allows you to use ideas, images, or word phrases created by another person (e.g., from Course Hero or Chegg) or by generative technology, such as ChatGPT, you must identify their source. You may not submit false or fabricated information, use the same academic work for credit in multiple courses, or share instructional content. Students with questions about academic integrity should ask their instructor before submitting work.
Students facing allegations of academic misconduct may not drop/withdraw from the affected course unless they are cleared of wrongdoing (see G-9: Academic Integrity ). Attempted drops will be prevented or reversed, and students will be expected to complete course work and meet course deadlines. Students who are found responsible for academic integrity violations face academic outcomes, which can be severe, and put themselves at jeopardy for other outcomes which may include ineligibility for Dean’s List, pass/fail elections, and grade forgiveness. Students may also face consequences from their home/major program and/or The Schreyer Honors College.
How Academic Integrity Violations Are Handled
World Campus students are expected to act with civility and
personal integrity; respect other students' dignity, rights, and
property; and help create and maintain an environment in which all
can succeed through the fruits of their own efforts. An environment
of academic integrity is requisite to respect for oneself and
others, as well as a civil community.
In cases where academic integrity is questioned, the Policy on Academic Integrity indicates that procedure requires an instructor to inform the student of the allegation. Procedures allow a student to accept or contest a charge. If a student chooses to contest a charge, the case will then be managed by the respective college or campus Academic Integrity Committee. If that committee recommends an administrative sanction (Formal Warning, Conduct Probation, Suspension, Expulsion), the claim will be referred to the Office of Student Accountability and Conflict Response.
All Penn State colleges abide by this Penn State policy, but review procedures may vary by college when academic dishonesty is suspected. Information about Penn State's academic integrity policy and college review procedures is included in the information that students receive upon enrolling in a course. To obtain that information in advance of enrolling in a course, please contact us by going to the Contacts & Help page .
Accommodating Disabilities
Penn State welcomes students with disabilities into the University's educational programs. Every Penn State campus has resources for students with disabilities. The Student Disability Resources (SDR) website provides contacts for disability services at every Penn State campus. For further information, please visit the SDR website.
In order to apply for reasonable accommodations, you must contact the appropriate disability resources office at the campus where you are officially enrolled, participate in an intake interview, and provide documentation based on the documentation guidelines. If the documentation supports your request for reasonable accommodations, your campus's disability resources office will provide you with an accommodation letter. Please share this letter with your instructors and discuss the accommodations with them as early in your courses as possible. You must follow this process for every semester that you request accommodations.
Additional Policies
For information about additional policies regarding Penn State Access Accounts; credit by examination; course tuition, fees, and refund schedules; and drops and withdrawals, please see the World Campus Student Center website.
Please refer to the University Grading Policy for Undergraduate Courses for additional information about University grading policies.
Note: If you are planning to graduate this semester, please communicate your intent to graduate to your instructor. This will alert your instructor to the need to submit your final grade in time to meet the published graduation deadlines. For more information about graduation policies and deadlines, please go to the Graduation Information on the My Penn State Online Student Portal.
Formal instruction will end on the last day of class. Provided that you have an active Penn State Access Account user ID and password, you will continue to be able to access the course materials for one year, starting from the end date of the academic semester in which the course was offered (with the exception of library reserves and other external resources that may have a shorter archival period). After one year, you might be able to access the course based on the policies of the program or department offering the course material, up to a maximum of three years from the end date of the academic semester in which the course was offered. For more information, please review the University Course Archival Policy.
Disclaimer: Please note that the specifics of this Course Syllabus are subject to change, and you will be responsible for abiding by any such changes. Your instructor will notify you of any changes.