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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.

Under the UCC, an offeror must be notified within a reasonable time that the offeree has accepted.

The payment of Chick’s debt to Diamond is guaranteed by Chick’s collection of eight restored autos. Their agreement describes Chick’s subject property by serial number. To establish Diamond’s interest, this is​

Under the UCC, if a contract for a sale of goods does not specify the quantity, a court will objectively determine what is a reasonable quantity.

The UCC imposes some different rules on merchants.

Sam is the secured party in a transaction with Lilly, who is the debtor. Sam files a security agreement with the appropriate state official. The security agreement must contain

The payment of Linda’s debt to Pat is guaranteed by Linda’s personal property. Pat is most likely to perfect her interest by​

Medical Supply Company and Health Care, Inc., enter into a contract for a sale of medical equipment and supplies. Under either a shipment contract or a destination contract, the seller must

A firm offer by a merchant may be oral.