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Under the UCC, an offeree can accept an offer to buy goods by a prompt shipment of conforming goods.

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

Liquidated debts are debts that are indefinite, or not fixed, in amount.

To create an enforceable security interest, the secured party must give value.

A buyer in the ordinary course of business has priority even if a previously perfected security interest exists as to the goods.

The concept of a floating lien applies to a constantly changing inventory.

The United Nations Convention on Contracts for the International Sale of Goods (CISG) is the uniform international sales law of countries that account for more than two-thirds of all global trade.

An order for relief in a bankruptcy proceeding amounts to a discharge of the debts of the party petitioning for bankruptcy protection.

The last security interest to be perfected is the first in priority over any other perfected security interests.​

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