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If a debtor who purchases an item with unsecured credit defaults on the loan, the creditor’s only means of recourse is to sue the debtor to try to recover the unpaid loan amount.

With respect to the sale of goods under Article 2 of the UCC, once the seller has tendered delivery of conforming goods, the buyer is obligated to

Jack transfers a piece of real property “to Mark for his life, and then to John.”  What type of ownership interest has Jack created.

According to the perfect tender rule, Seller has a duty to deliver conforming good to the buyer.  If the goods fail to conform to the contract, then the buyer may:

The transfer of a negotiable instrument by a person other than the maker or drawer, is known as

Mom and Dad transfer real property to their son for “as long as he is enrolled in Auburn University and maintaining a cummulative GPA of 2.5 or above.”  What type of estate does this create?

Shareholders of a corporation have limited liability and do not participate in the management of the corporation; but do have the right to elect directors and vote on certain matters such as a proposed increase in the number of authorized shares or proposed merger.

Which of the following is true of a limited liability partnership?

Which of the following is true regarding the relationship of shareholders and directors of the corporation?

In order for a security interest to give the secured party protection against the claims of other creditors of the debtor, the security interest must