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A purchase-money security interest (PMSI) in consumer goods is perfected automatically at the time the PMSI is created.

When consumer goods are involved, a termination statement must be filed within a month after the debt is paid.​

A trustee has the power to avoid a sale of the debtor’s property.

Harold files a bankruptcy petition. The resulting automatic stay will apply to Harold’s payments for​

If the assets in a debtor’s estate in bankruptcy are insufficient to pay fully all creditors, the debtor is liable for the difference.

Stitches Corporation enters into a contract to sell denim clothing to Trend Fashion Company, which in turn sells the clothing to consumers. In contrast to standards that apply to consumers, the UCC imposes on merchants

Curt enters into a contract with Drivers Lease Company for a three-year lease of a car. This contract is subject to

When no delivery terms are specified in a contract for a sale of goods, the contract will fail for indefiniteness.

Authenticate means to sign or to adopt any symbol on an electronic record that verifies the intent to adopt or accept the record.

A merchant is a person who deals in goods of the kind involved in the sales contract or who holds herself or himself out as having skill or knowledge peculiar to the practices or goods being purchased or sold.