The End of Negotiable Instruments: Bringing Payment Systems Law Out of the Past

This book is required reading for anyone who thinks seriously about modern payment systems (which includes, or should include, everyone who teaches the subject). That is not so much because the book contains heretofore-unpublished insights; most of its themes should be familiar to students of the subject, due in no small measure to the previous work of Professor Rogers himself. Rather, this book is a superlative synthesis, in which the author writes with exceptional lucidity about what is important in the subject from a policy perspective. The discussion is very greatly enriched by the author's deep knowledge of the history of the subject, which is probably unparalleled among living scholars. This book is anything but antiquarian, however. For example, recent legal artifacts such as "transferable records" attempt to pump new life into negotiable instruments law. One cannot intelligently consider whether these legal artifacts are well-founded reactions to genuine commercial needs, or flaming anachronisms pushed by special interests, without familiarity with Professor Rogers' insights. To repeat, this book is essential for students of the subject.