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

Advances against lines of credit can be subject to a perfected security interest in certain collateral.

A defaulting debtor cannot redeem nonexempt property before a sale under a writ of execution.

Intangible property has conceptual existence and thus comes under Article 2.

If a lessee breaches a contract, the lessor can cancel the contract.

Clear View Company, which is based in Delaware, agrees to sell fifty windows, currently stored in Florida, to Far Sight, Inc., which is based in Hawaii. Absent an agreement to the contrary, the place of delivery is in