The same principles that govern the filing of a liquidation petition apply to reorganization proceedings.

Lenders Bank files a financing statement regarding a transaction with Metro Construction Company. To be valid, the financing statement must contain all of the following except​

An installment contract is breached if a seller tenders any nonconforming goods.

Larry has fifteen creditors. To force Larry into bankruptcy proceedings, at least three creditors must join the petition and their unsecured claims must add up to at least​

According to the UCC, one open term will cause a sales contract to fail for indefiniteness.​

For individual debtors, the plan in a reorganization case must be completed before a discharge will be granted.

The basic duty of a trustee is to collect the debtor’s property and reduce it to money for distribution.

Marine Expeditions, Inc., pays Nate’s Boats $4,000 to use an oceangoing vessel for a month. For the purposes of the UCC, this is

A floating lien cannot apply to the proceeds of the sale of after-acquired property.

A financing statement must include the creditor’s signature.