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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.

Martin, who wants to sell a house he owns, authorizes his concierge, Wilhelm, to find a potential buyer and finalize a deal above a stipulated price. Wilhelm contracts Chris, a real estate broker, and instructs him to only find a potential buyer and send them over to Wilhelm for the sale. Martin then contracts ReNowait Goodhouses, a home improvement company to renovate the house. ReNowait completes its work and Martin pays them. Chris then searches for a suitable buyer and finds one in George. George buys the house and Chris is paid for his services. What role does Chris perform?

Which of the following is true of the display of warranty disclaimers?