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Refined Metals Company and Superior Fabrication, Inc., enter into a contract under which Refined agrees to deliver a certain quantity of sheet metal to Superior each month. The contract does not include a price term. In a suit between the parties over the price, a court will

The length of the payment plan under a Chapter 13 plan can be three to five years, depending on the debtor’s family income.

A security interest is enforceable only if the debtor has title to the collateral.

A creditor’s composition agreement is usually held to be enforceable.

In a dispute over a sale involving a bicycle, Dain argues that as to this deal Ed’s Hobby Shop, where Dain bought the bike, is a merchant. A court may determine whether Ed’s is a merchant by assessing whether

Julie owes Ryan $10,000. When the debt comes due, Julie refuses to pay. Ryan obtains a judgment to collect the debt. Using a writ of execution, the court orders the sheriff to seize Julie’s boat and sell it to pay the debt. The boat sells for $15,000. Ryan will receive​

A bankruptcy estate consists of all the debtor’s interests in property currently held, wherever located.

Kyla holds a security interest in inventory owned by Luc. Kyla protects her claim to the inventory in the event of Luc’s default by​

In interpreting a commercial agreement, a court will assume that the usage of trade was taken into account when the agreement was phrased.

A security interest that provides for a security interest in collateral subject to future advances is a floating lien.