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This book recognizes the student's need for background information to place cases and problems in a proper transactional and legal context. Each new topic is accordingly introduced with a note providing a general substantive overview of the area of law involved, and some understanding of its historical evolution. Where pertinent, these notes address the common law development and legislative history underlying the applicable provisions of the UCC or other related legislation. To exploit advantages of case, problem, and extensive note material techniques, differing pedagogical styles are used in various portions of the book. Substantive law issues are addressed with a mix of contemporary cases and problems selected and designed to illustrate current commercial practices, controversies, and statutory construction techniques. Problems used throughout these materials also encourage students to apply statutory language, official comments, and legislative definitions of the UCC and related statutes.