1.List 3 main differences between a UCC Article 2 contract and a contract formed under common law.HINT: These differences enable parties to make a contract quickly and informally.
2.What is the difference between an express warranty and an implied warranty?
3.How can a seller avoid application of a warranty?
4.What 6 things make an instrument a negotiable instrument?
5.What is the benefit of being a holder in due course?
6.What three steps are necessary to create an enforceable security interest?
7.Why is it important to â€œperfectâ€ an interest in collateral?
8.What are the 3 rules to establish which creditors have a better claim to collateral?