A concise, clear, effective review of Commercial Paper and Payment Systems topics organized around the theme of multiple-choice questions. The basic format follows the same structure established by the first title in the series, Joseph Glannon"s The Glannon Guide to Civil Procedure. The book includes brief explanatory text about the topic under discussion, followed by one or two multiple-choice questions. After each question, the author explains how the correct choice was chosen. Thus the student reviews course content and also learns how to analyze exam questions.Features: Integrates multiple-choice questions into a full-fledged review of the first-year Commercial Paper and Payment Systems course Lead-up discussion of law in the text prepares students to learn effectively from subsequent questionsClear explanations of correct and incorrect answers help to clarify nuances in the lawMultiple-choice questions are sophisticated but fair, neither too difficult nor unrealistically straightforwardEqually useful to all students, regardless of whether they will be tested by multiple-choice questions on their exams Embodies a far more user-friendly and interactive approach than other exam preparation aids A more challenging final question in each chapter (the Closer ) illustrates a more sophisticated problem in the area under discussion Closing Closer questions in the last chapter provide practice and helpful review of concepts in earlier chapters Valuable exam-taking pointers interspersed within the substantive text New to the Second Edition: Expanded discussion of online payments issues (eBay, PayPal, various online fraud/warranty issues)Additional multiple-choice questions, to further illustrate the legal rulesDiscussion and questions related to issues arising from the mortgage crisis, includingWhether a promissory note may be enforced if the note is not present (such as in foreclosure)Whether a securitized note may be enforced by an investor in the security Updates to address changes in credit card and debit card law A new section on the modernization of the check collection system (now every bank is deemed a local bank)