In the majority of states, debtors may use only federal, not state, exemptions to exempt certain property from the bankruptcy.

If the assets in a debtor’s estate in bankruptcy are insufficient to pay fully all creditors, the debtor is liable for the difference.

Lindsay operates a sole proprietorship, a corporation, and a partnership. She wants to obtain relief for her individual debts and the debts of her corporation and partnership. For each of these, she may file a petition in bankruptcy for relief through​

Curt enters into a contract with Drivers Lease Company for a three-year lease of a car. This contract is subject to

A lender does not have to strictly comply with the state statute governing foreclosure—substantial compliance is sufficient.

Foreclosure is the legal process by which a lender repossesses and auctions off property that has secured a loan.

Ronaldo’s debt to Sofia is past due. Ronaldo obtains a judgment against Sofia to collect the debt, but Sofia will not pay. Ronaldo requests a writ of execution. The property that is seized under the writ of execution must be​

Under the UCC, good faith means honesty in fact and the observance of reasonable commercial standards of fair dealing in the trade.

Manufacturing Corporation orders twelve safety videos from Productions, Inc., which delivers the videos. This is most likely

Patty files a petition in bankruptcy. At the moment of filing​