The Seventh Edition substantially updates the materials on Revised Articles 3 (Negotiable Instruments), 4 (Bank Deposits and Collections), and Article 4A (Funds Transfers). It features a selection of eleven recent cases that promise to become leading cases. The 2002 amendments to Articles 3 and 4 are considered, as is the 2003 federal Check 21 Act and important new federal banking regulations. Materials on technological advances in payment systems have been updated, and emerging consumer issues have been highlighted throughout. The increasing federalization of bank-customer relations is treated in detail. The accompanying Teacher's Manual explains the material and thoroughly analyzes the Problems in the text.