Brass & Woodwind Instruments, Inc., allows Clifton to keep a professional clarinet that he bought from Brass & Woodwind even though he has not paid the full price. Brass & Woodwind’s legally sufficient financing statement in the goods need not include​

Julie owes Ryan $10,000. When the debt comes due, Julie refuses to pay. Ryan obtains a judgment to collect the debt. Using a writ of execution, the court orders the sheriff to seize Julie’s boat and sell it to pay the debt. The boat sells for $15,000. Ryan will receive​

Kyla holds a security interest in inventory owned by Luc. Kyla protects her claim to the inventory in the event of Luc’s default by​

In interpreting a commercial agreement, a court will assume that the usage of trade was taken into account when the agreement was phrased.

Whatever a secured party obtains on a sale of collateral is all that he or she can collect on the debt.

If goods in every respect conform to a contract, the buyer or lessee does not have a right to reject the goods.

Most of the customers in any business are buyers in the ordinary course of business.​

The United Nations Convention on Contracts for the International Sale of Goods (CISG) is the uniform international sales law of countries that account for more than two-thirds of all global trade.

A buyer in the ordinary course of business has priority even if a previously perfected security interest exists as to the goods.

The last security interest to be perfected is the first in priority over any other perfected security interests.​