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An installment contract is a single contract that requires or authorizes delivery in two or more separate lots to be paid for in one payment.

Marine Expeditions, Inc., pays Nate’s Boats $4,000 to use an oceangoing vessel for a month. For the purposes of the UCC, this is

A financing statement must include the creditor’s signature.

The basic duty of a trustee is to collect the debtor’s property and reduce it to money for distribution.

Refined Metals Company and Superior Fabrication, Inc., enter into a contract under which Refined agrees to deliver a certain quantity of sheet metal to Superior each month. The contract does not include a price term. In a suit between the parties over the price, a court will

A security interest is enforceable only if the debtor has title to the collateral.

Any breach of the terms of the security agreement can constitute default.

A buyer’s failure to cover will bar him or her from using any other remedies available under the UCC.​

Once default has occurred and the secured party has obtained possession of the collateral, the secured party has no more options.​

A debtor’s vehicle is never exempt from satisfaction of a judgment debt.