Commercial Law - Classifying
Collateral Exam Questions With 100%
Verified Answers
Equipment -
correct answer ✅A professional pianist's piano
Farm product -
correct answer ✅Cattle fattened by a farmer for sale
Farm product -
correct answer ✅Farmer's chickens
Farm product -
correct answer ✅Manure from the dairy herd
Consumer good -
correct answer ✅A mobile home
General intangibles -
correct answer ✅A right to sue for breach of contract
Not covered under UCC because this would not be a commercial
tort claim -
, Commercial Law - Classifying
Collateral Exam Questions With 100%
Verified Answers
correct answer ✅A right to sue someone for negligence arising out
of car accident
commercial tort claim -
correct answer ✅A right to sue a corp for wooing away a trusted
EE
payment intangible because once a claim arising in tort has been
settled and reduced to a contractual obligation to pay, the right to
payment becomes a payment intangible and ceases to be a claim
arising in tort -
correct answer ✅A SI in a lawsuit P has already won and that has
been reduced to a settlement agreement
Inventory -
correct answer ✅Pencils and other stationery supplies used by
Wal-Mart or a similar large retailer in its credit offices
general intangible -
correct answer ✅A liquor license
Collateral Exam Questions With 100%
Verified Answers
Equipment -
correct answer ✅A professional pianist's piano
Farm product -
correct answer ✅Cattle fattened by a farmer for sale
Farm product -
correct answer ✅Farmer's chickens
Farm product -
correct answer ✅Manure from the dairy herd
Consumer good -
correct answer ✅A mobile home
General intangibles -
correct answer ✅A right to sue for breach of contract
Not covered under UCC because this would not be a commercial
tort claim -
, Commercial Law - Classifying
Collateral Exam Questions With 100%
Verified Answers
correct answer ✅A right to sue someone for negligence arising out
of car accident
commercial tort claim -
correct answer ✅A right to sue a corp for wooing away a trusted
EE
payment intangible because once a claim arising in tort has been
settled and reduced to a contractual obligation to pay, the right to
payment becomes a payment intangible and ceases to be a claim
arising in tort -
correct answer ✅A SI in a lawsuit P has already won and that has
been reduced to a settlement agreement
Inventory -
correct answer ✅Pencils and other stationery supplies used by
Wal-Mart or a similar large retailer in its credit offices
general intangible -
correct answer ✅A liquor license
