On default, a secured party who chooses not to retain the collateral must dispose of it in a commercially reasonable manner.

Under the UCC, an offeror must be notified within a reasonable time that the offeree has accepted.

The payment of Chick’s debt to Diamond is guaranteed by Chick’s collection of eight restored autos. Their agreement describes Chick’s subject property by serial number. To establish Diamond’s interest, this is​

Rulings from bankruptcy courts are final—they cannot be appealed.

All debts are dischargeable in bankruptcy.

Bankruptcy proceedings are held in state courts.​

Nell’s debt to Olsen is past due. Olsen obtains an order of garnishment to require Nell’s employer Pro Transmission Service, Inc., to pay part of Nell’s paycheck to Olsen. The law​

In contracts involving a carrier, a seller can complete performance through a shipment contract or a destination contract.

Troy files a petition for bankruptcy. Troy must include with the petition

If a homeowner defaults, or fails to make the mortgage payments, the lender loses the right to foreclose on the mortgaged property.