The concept of a floating lien applies to a constantly changing inventory.

The United Nations Convention on Contracts for the International Sale of Goods (CISG) is the uniform international sales law of countries that account for more than two-thirds of all global trade.

Liquidated debts are debts that are indefinite, or not fixed, in amount.

A purchase-money security interest (PMSI) in consumer goods is perfected automatically at the time the PMSI is created.

A surety is primarily liable for the debt of a principal.

When consumer goods are involved, a termination statement must be filed within a month after the debt is paid.​

There is no limit to the amount that can be taken from a debtor’s weekly take-home pay through garnishment.

The first security interest to be perfected is the last in priority over any other perfected security interests.​

A surety cannot assert the principal debtor’s bankruptcy as a defense to avoid liability on the debtor’s obligation.

Fruit of the Plant, Inc., agrees to sell a certain quantity of a high-quality grain seed to Grange Co-op. Fruit of the Plant can obtain only half of the quantity ordered, so the seller also ships a lesser quality seed in twice the amount of the remainder of the order for the same price. Grange Co-op rejects the lesser quality seed. With time for performance not yet expired, Fruit of the Plant can