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A special contractual situation in which the parties to a disputed contract agree to settle their dispute by changing the obligations of the contract itself with the new agreement.

In a sales contract, a clause states that the “Seller warrants that all items furnished hereunder will be in conformity with Buyer’s specification.” This is an example of:

Alice contracts to purchase Mohammed’s house. The contract is conditioned on Alice obtaining financing for the purchase within 30 days. If Alice is unable to find a mortgage within 30 days, which of the following methods of discharge exists?

Carl entered into a written contract with Ned, in which Carl agreed to buy twenty gallons of honey produced by Ned (Ned is a beekeeper) in August 2018. Unbeknownst to Ned and Carl, all of Ned’s bees had died from a rare disease.  Although Ned cannot perform the contract, Carl wishes to enforce it. If Carl sues Ned, will Carl be successful in enforcing the contract? Explain your answer.

A floating lien gives the creditor the right to attach . . .

Sahari purchases a health insurance policy from Utah Insurance, Corp. Sarahi wants to assign her contract rights to Yoko. Is Sahari legally able to assign these rights?

If a contract reads “Ex Virgin Atlantic Flight #91,” the risk of loss . . .

Tim agrees to buy all of the oranges Alice grows on her farm this year for a set price per pound. Does the agreement between Tim and Alice have to be in writing?

To create a security interest, there must be . . .

Based on the grading scale, what is the minimum grade you can earn to pass a PMC course?