Author: Anonymous

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​

Whatever a secured party obtains on a sale of collateral is all that he or she can collect on the debt.

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

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

If goods in every respect conform to a contract, the buyer or lessee does not have a right to reject the goods.

Most of the customers in any business are buyers in the ordinary course of business.​

NUTRITION FACTS for: Artisan Rosemary and Olive Oil Flat bread   Serving Size: 1 piece (1.8 oz. or 51 g)   Calories: 120              % Daily Value*            % Daily Value* Total Fat 2 g                           3% Vitamin A                                           0% Saturated fat: 0 g                     0% Vitamin C                                           0% Trans fat: 0 g   Calcium                                              2% Cholesterol  0 mg                   0% Iron                                                    10% Total Carbohydrate 24 g       8% Dietary Fiber 6 g                    23% Protein 7 g Sugars 2 g *based on a 2000 calorie diet   The olive oil found in this food contains a high level of these fatty acids.  

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

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

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