Milton R. Schroeder is a Professor of Law Emeritus at the Arizona State University College of Law in Tempe, where he taught courses in banking law, payments and credit systems, and commercial transactions. He has taught these subjects and published extensively about them for more than 20 years. He has been an academic visitor at the University of Melbourne and Ormond College, Melbourne, Australia, in the field of banking law. Professor Schroeder was in private practice in Washington, D.C. prior to joining the Arizona State University Law faculty. He is a member of the bar of the states of Arizona and Illinois (inactive) and of the District of Columbia (inactive). He is a member of the American Law Institute and the American Bar Association and participates in numerous committees of these organizations concerned with banking and commercial law, including those involved in the revision of the Uniform Commercial Code Article 3 on negotiable instruments, Article 4 on bank deposits and collections, Article 4A on fund transfers, and Article 9 on secured transactions.