Author: Anonymous

Certain debtors may not qualify to have all debts discharged in bankruptcy.

A lessor is a party who acquires a right to the possession and use of goods under a lease.

A purchase-money security interest in consumer goods is created when a person buys the goods on credit.

A preference occurs when a debtor transfers property or money favoring one creditor over others.

Olive borrows money from Capital Loan Company. For Capital to obtain a writ of execution, Olive must​

Business Rental Corporation (BRC) and Cartage Trucking Company enter into a contract for a lease of ten hydraulic lifts. Under the perfect tender rule, BRC must ship or tender goods to the lessee that

Until the time for performance under a contract expires, the seller has a right to cure.

ABC Toy Store orders one hundred board games from Big Board Games Inc. When the games are delivered, they are all missing pieces. ABC rejects the shipment. To cure, Big Board Games must

On default, a secured party who chooses not to retain the collateral must dispose of it in a commercially reasonable manner.

Any “person”—defined as including corporations—may be a debtor in a liquidation proceeding.