If a homeowner defaults, or fails to make the mortgage payments, the lender loses the right to foreclose on the mortgaged property.

Precise Parts, Inc., and Quality Auto stores enter into a contract for a sale of auto parts that meet certain specifications. Precise Parts ships goods that do not comply. Quality Auto

Medico Inc. enters into a contract to sell medical supplies to New Hospital Corporation, which sells some of the items to Physicians Clinic, which later sells them to Oscar, a patient and consumer. Article 2 of the UCC applies to the sales transactions between

A firm offer by a merchant may be oral.

The payment of Valley Farm’s debt to County Bank is guaranteed by the farm’s personal property. This property is​

A creditor must exhaust all legal remedies against the principal debtor before holding a surety responsible for payment.

If a buyer breaches a contract, the seller can choose to simply cancel the contract.

To create an enforceable security interest, the secured party must give something of value to a debtor’s other creditors.

Sasha’s debt to Tully is past due. Tully brings a legal action against Sasha to collect the debt. To ensure that a judgment in Tully’s favor will be collectible, he asks the court to enter a prejudgment order to seize Sasha’s property. This is a request for

The terms of a fully integrated contract can be contradicted by evidence of any prior agreements.