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

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

A trustee has the power to avoid preferences.

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

A buyer who rightfully rejects nonconforming goods may obtain cover or cancel the contact, but may not seek damages.

The payment of John’s debt to Kirsten is guaranteed by John’s personal property. Kirsten is most likely to perfect her interest by

Under the UCC, an oral contract for a sale of goods is enforceable if goods have been received and accepted.

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

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

A course of performance is the conduct that occurs under the terms of a particular agreement.