1. UNCITRAL has asked you to prepare a feasibility study on the drafting of an international instrument for the sale of Bitcoin. They have asked you to provide your recommendation as to whether they should consider the adoption of a model law or an international convention. Which do you recommend and why?

2. Chase Bank financed the import of an expensive medical device for the Banner Medical Center (BMC) from ACE Korean Company. The device was transported to Los Angeles by Korean Air Cargo where damage to the device was discovered. Chase Bank deducted the sum it paid to ACE from the BMC bank account. Can BMC sue Korean Air Cargo under the Montreal Convention to compensate for the damage?

3. What rules apply to different segments of transportation covered by a multimodal bill of lading?

4. A local start-up that imports large amounts of merchandise for resale from India hired you to advise them on whether to use letters of credit instead of wire transfers. Usually, the start-up would wire funds to their customers within 30 days after delivery of the merchandise. But recently, at a business conference that the CEO attended, she learned that letters of credit were an alternative and adequate means of paying customers: To help them decide between letters of credit and wire transfers, the start-up has asked you to provide the following:

• A description of a letter of credit transaction

• Two laws or instruments that could apply to letters of credit;

• The typical participants or relationships in a letter of credit transaction.

• Three arguments for or against the switch:

5. Provide examples of two transactions where parties could utilize stand-by letters of credit.

6. You represent CareLast Bank, which failed to timely execute a payment order. The bank received the payment order on June 5 but did not execute it until June 8. The customer, Mr. Wu, claims that the bank was negligent and that because of this tardy execution his counterparty seeks to rescind the contract for the purchase of grain because the time of payment was essential to the contract. Can Mr. Wu claim consequential damages from the bank?

7. The Government of South Africa is considering reforming its secured transactions law and has hired you as a consultant. It wants to know whether it should preserve some of the formalities presently applicable to security interests. Discuss the advantages and disadvantages of the current requirements that: i) all security agreements be notarized; and ii) reviewed by the registrar. You should also make recommendations to the Government for each item.

8. You were asked by your friend who runs an export business generating receivables to explain what credit products he could consider to finance its business (e.g., factoring) using the receivables.