Under the UCC, an oral contract for a sale of goods is enforceable if goods have been received and accepted.

A creditor’s surrender of collateral to a debtor without the guarantor’s consent can reduce the guarantor’s obligation.

A short sale is a sale of only part of the whole property subject to a mortgage.

A course of performance is the conduct that occurs under the terms of a particular agreement.

Under the “partial performance” exception to the UCC, an oral contract for goods worth more than $500 is enforceable if the goods are designed to partially perform a specific function.

To use attachment as a remedy, a creditor must have an enforceable right to payment of the debt.

An artisan’s lien is effective only if a creditor has possession of the property.

On the entry of an order for relief in a reorganization case, the creditors generally take over the operation of the debtor’s business.

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​