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If goods identified to a contract are destroyed through no fault of either party, both parties are excused from performance.

Ferris is refinishing his kitchen floor and needs a floor sander to complete the job. Ferris’s neighbor Gena suggests that he call Home Repair Rentals, Inc. Home Repair leases Ferris a floor sander. In this transaction, the lessor is

Larry has fifteen creditors. To force Larry into bankruptcy proceedings, at least three creditors must join the petition and their unsecured claims must add up to at least​

For individual debtors, the plan in a reorganization case must be completed before a discharge will be granted.

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.