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The secured party may petition the court for a judgment against the borrower. It may also utilize available judicial procedures to repossess, foreclose, or otherwise enforce the claim against the property secured by the UCC statement.

Article 2 Applies to Transactions of 'Goods' In other words, it applies to transactions involving most things that are moveable. This includes sales of electronics, large-pieces equipment?rigs, pumps, and compressors, aircrafts, engines, food products, crops, and hydrocarbons.

Article 2 of the UCC (MCL 440.2101 et. seq.) governs the sale of goods. Article 2 is meant to provide default rules and gap-fillers that apply where two parties have not comprehensively addressed common issues in a written contract.

Article 2 applies to contracts for the sale of goods. [2] Goods are things that can be identified when the contract is formed and can be moved. [3] Pens, boats, computers, cars and animals are all ?goods.? In contrast, real estate, services, and intangibles (such as intellectual property) are not ?goods.?

The Parol-Evidence Rule. "Under [the parol-evidence] rule all prior negotiations and agreements are deemed merged in the written contract, and parol evidence is not admissible to vary or contradict its terms."

Article two only covers the sale of goods. This is important to keep in mind. Goods include all items that can be both identifiable and moveable at the time of the sale. Article 2 does not cover transactions involving service contracts.