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​

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.