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

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

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​

Proceeds from the disposition of collateral after default are distributed in a certain order with any surplus generally going to the creditor.

A mortgage is recorded in the appropriate county office where the property is located.

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

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

A purchase-money security interest in consumer goods is created when a person buys the goods on credit.

Donna goes through an involuntary bankruptcy proceeding. An involuntary bankruptcy occurs when​

A preference occurs when a debtor transfers property or money favoring one creditor over others.