Blog

A creditor’s surrender of collateral to a debtor without the guarantor’s consent can reduce the guarantor’s obligation.

A merchant’s firm offer is revocable at any time before acceptance.

A short sale is a sale of only part of the whole property subject to a mortgage.

If the circumstances indicate bad faith, a court can dismiss a debtors’ Chapter 13 petition.

Under the “partial performance” exception to the UCC, an oral contract for goods worth more than $500 is enforceable if the goods are designed to partially perform a specific function.

An artisan’s lien is effective only if a creditor has possession of the property.

A student loan is discharged under Chapter 13 unless the creditor can show “undue hardship.”

The same principles that govern the filing of a liquidation petition apply to reorganization proceedings.

Generally, acceptance of an offer to lease goods may be made in any reasonable manner and by any reasonable means.

Larry has fifteen creditors. To force Larry into bankruptcy proceedings, at least three creditors must join the petition and their unsecured claims must add up to at least​