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

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

Medical Supply Company and Health Care, Inc., enter into a contract for a sale of medical equipment and supplies. Under either a shipment contract or a destination contract, the seller must

CreditLine Inc. joins with other creditors to force Deli Sandwich Shop, a debtor, into bankruptcy. One of the goals of bankruptcy law with respect to creditors is to​

To knowingly supply false information on official bankruptcy schedules is a crime.

Edgar refuses to pay Delia $500 for the cost to repair Edgar’s washing machine and dryer, which Delia still possesses. Delia has a lien on the machines, which will terminate​

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

Metro Motors files a financing statement giving notice to the public that it has a secured interest in collateral belonging to Nate’s Limousine Service, which is the debtor named in the statement. A uniform financing statement used in all states 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.