Law Commons^™

Credit Cards And The Virtual Acceptance, Frederick M. Hart

Faculty Scholarship

A recent case decided in a lower New York court indicates an interesting use of the virtual acceptance. Neither the decision nor the opinion is of great import, but the case is noteworthy because of the theory advocated by the plaintiff which shows a clever (and successful) attempt to adapt a principle developed during the last century to a modern type of credit transaction. In addition, it furnishes an opportunity to discuss a significant change made by the Uniform Commercial Code in the field of Negotiable Instruments. The action was brought by the financer of a credit club to collect …