Author: Anonymous

Steve brings his watch to Knell Watches to be repaired. Knell Watches sells and repairs watches. Steve entrusts his watch at Knell’s until it is repaired. The watch store repairs the watch, but then sells it to Kevin, who buys the watch with a fraudulent check that bounced. Kevin then resells the watch to his friend Jonathan, who is unaware of the stolen nature of the watch. Who can legally claim ownership over the watch in court?

Acceptance of a part of any commercial unit is acceptance of the entire unit.

The property on which a security interest is taken is called collateral.

The Magnuson-Moss Warranty Act does not govern warranties of commercial or industrial transactions.

Constructive notice is not valid against strangers who assert claims of apparent agency.

In a secured transaction, the debtor is the secured party.

Alan wins a $50,000 judgment against Henderson, but Henderson refuses to pay the amount of the judgment to Alan. Alan obtains a postjudgment writ from the court directing the sheriff to seize Henderson’s automobile and other property and have them publicly auctioned off to satisfy the judgment. Which of the following writs did Alan use?

Goods in possession of bailees are considered to be in transit.

William buys a $500,000 house from Keith Geller through a realtor. He makes a down payment of $200,000. He borrows the rest from Smith and Sons, a lending firm, and places his new house as collateral for the loan. Who is the debtor in this case?

Tangible personal property includes securities, patents, trademarks, and copyrights.