CreditLine Inc. joins with other creditors to force Deli Sandwich Shop, a debtor, into bankruptcy. One of the goals of bankruptcy law with respect to creditors is to​

To knowingly supply false information on official bankruptcy schedules is a crime.

Edgar refuses to pay Delia $500 for the cost to repair Edgar’s washing machine and dryer, which Delia still possesses. Delia has a lien on the machines, which will terminate​

The payment of Valley Farm’s debt to County Bank is guaranteed by the farm’s personal property. This property is​

Metro Motors files a financing statement giving notice to the public that it has a secured interest in collateral belonging to Nate’s Limousine Service, which is the debtor named in the statement. A uniform financing statement used in all states is​

A creditor must exhaust all legal remedies against the principal debtor before holding a surety responsible for payment.

If a buyer breaches a contract, the seller can choose to simply cancel the contract.

To create an enforceable security interest, the secured party must give something of value to a debtor’s other creditors.

Under the UCC, a seller’s tender of goods that do not conform in every way to a contract is still a valid tender.

Pine Mills Inc. and Quality Lumber Company enter into a contract for a sale of plywood to be delivered under a destination contract. This contract requires Pine Mills, the seller, to