Gabe gives Mary a note that states, “I promise to pay you $200,000,” as a gift, and Mary accepts the note.  No consideration is given in return for Gabe’s promise (because it is a gift) yet a court will enforce the promise.  

The rights of a “Holder in Due Course,” include the right to: __________________________.

For involuntary bankruptcy petitions, where creditors force a debtor into bankruptcy, if you have less than ____ creditors, one can force you into bankruptcy for $15,325 in debt (changes every three years).

To _________________ an offer, express language must be used, such as, “I withdraw my previous offer of May 7,” or by performance of acts that are contrary to the offer and made to the offeree (for example, selling the offered property to another with the original offeree present

Joe, a used-car dealer, emails a letter to Jane on January 1, stating, “I have a well-kept 1987 Buick Regal Grand National on the lot that I’ll sell you for $100,000 any time between now and January 31.”  This email creates a firm offer, and Joe will be liable for breach if he sells to another person before Jan. 31.  This is known under the UCC as a _______________________.

Through the “means test,” a bankruptcy court can evaluate an individual debtor’s monthly income in recent months is compared to median income in the geographic area where the person lives.  If debtor’s income is below the median income, the debtor is allowed to file Chapter 7, as there is no presumption of bankruptcy abuse.  Otherwise, they file for Chapter 13.

Section 2A of the UCC covers any transaction that creates a lease of goods or sublease of goods.

If contract does not indicate where the goods will be delivered? Then place for delivery will be: ____________________.

A statement of intention to do something in the future is an offer.  

Dr. Patel just finished an appointment with Horace, who shared he has been suffering from mysterious symptoms that lab reports showed to be a sexually transmitted disease.  Dr. Patel retells Horace’s story during her lunch break in the hospital cafeteria “Can you believe this charmer?  This is Horace Smith’s third STD in the past year!  Avoid him on Tinder.” Which of the following is most accurate based on the facts above?