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In a dispute over a sale involving a bicycle, Dain argues that as to this deal Ed’s Hobby Shop, where Dain bought the bike, is a merchant. A court may determine whether Ed’s is a merchant by assessing whether

A creditor’s composition agreement is usually held to be enforceable.

Julie owes Ryan $10,000. When the debt comes due, Julie refuses to pay. Ryan obtains a judgment to collect the debt. Using a writ of execution, the court orders the sheriff to seize Julie’s boat and sell it to pay the debt. The boat sells for $15,000. Ryan will receive​

A bankruptcy estate consists of all the debtor’s interests in property currently held, wherever located.

In interpreting a commercial agreement, a court will assume that the usage of trade was taken into account when the agreement was phrased.

Kyla holds a security interest in inventory owned by Luc. Kyla protects her claim to the inventory in the event of Luc’s default by​

Quarry Equipment Corporation and Rock & Gravel Inc. enter into a lease of three bulldozers. Under the perfect tender rule, Quarry must ship or tender goods to Rock & Gravel that, with respect to the contract description, conform

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.