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In a suretyship relationship, a third person’s credit becomes the security for a debt.

The UCC requires a contract modification to be supported by new consideration.

Laurel borrows $150,000 from Marketplace Mortgage Loans to buy a home. The financing documents require Laurel to maintain the property, obtain homeowners’ insurance, and pay all property taxes and other assessments through the lender. With respect to these terms, a court is most likely to​

A homestead exemption allows a debtor to subtract the value of the family home from the amount of a debt.

If a contract specifies a certain carrier, a substitution of a different carrier for any reason breaches the contract.

The seller’s right to cure does not affect the right of the buyer or lessee to reject goods.

Once a discharge is granted, it may not be revoked, even if, for example, a debtor concealed property to defraud a creditor.

If a buyer repudiates a contract before the time for contract performance, the seller can bring an action to recover damages.

Revocation of acceptance is effective on notice to the seller or lessor.

A trustee has the power to avoid preferences.