Compend - Mortuary Law and Business Law

When one party to a contract breaches it, the other party has the right to sue for breach of contract, but he must exercise this right within the time fixed by a statute which is called

Statute of Limitations

Which of the following is a mistake that does not render an agreement defective? a. Identity of the subject matter b. Identity of the party or parties c. Terms of the contract d. Existence of the subject matter

Terms of the contract

The law of the land in the US is the

U.S. Constitution

A document which defines the relationship of the government itself and of its citizens is

a constitution

A person below the adult age is

a minor

A temporary order forbidding a certain action is

a restraining order

A process may be referred to as

a summons

A court of original general jurisdiction is

a trial court

A formal written command issued by a court of law

a writ

A proportional reduction of a legacy when the funds or assets out of which such legacy are payable are not sufficient to pay it in full is

abatement

When a dead human body is in the mortuary, the funeral home is said to have

actual custody

The extinction or withdrawal of a legacy by an act equivalent to revocation is called

ademption

Orders and decrees from governmental agencies which have the force of law is considered

administrative law

A person appointed by the court to oversee the estate of an intestate is called

administrator

A federal court of appeals is

an appellate court

A permanent order, issued by a court, forbidding activities which would be detrimental to others is

an injunction

An expressed willingness from a person to enter into a contractual agreement is

an offer

Laws that are designed to protect or prevent any individual from controlling a large share of a market or products are

anti-trust laws

The means whereby one party conveys his righs in a contract to another who is not a party to the original contract is called

assignment

The doctrine of stare decisis is concerned with

case law

A draft drawn on a bank and payable on demand is a

check

An addition or modification of a will is known as a

codicil

The damages awarded an injured party in a contract in which the injured party is entitled to compensation for the exact amount of the loss are called

compensatory damages

The failure to volunteer or reveal information not requested is termed

concealment

When a funeral director has a dead human body in his care, he is properly termed a

custodian

Common law is based on

customs

A corporation has a distinct existence separate and apart from the existence of its individual members which is known as a

entity

What is right and just refers to

equity

A contract in which the terms have not been fully performed by all the parties is said to be

executory

Perjury is

false testimony

A term involving a relation of trust or confidence is

fiduciary

One who induces another to enter into a contract as a result of an intentionally or recklessly false statement of material fact is guilty of

fraud

A will written entirely by the testator with his own hand is properly termed a

holographic will

The condition of an estate of a deceased person which is unable to pay the debts of the decedent and/or the estate is referred to as being

insolvent estate

Property rights consisting merely of evidences of ownership of property, such as copyrights, checks, notes and stocks, are

intangible personal property

A newspaper advertisement can be an offer if it shows

intent

When a person dies without a will, he is said to die

intestate

The power or authority which each court has to hear cases is called its

jurisdiction

Rules of civil conduct commanding what is right and prohibiting what is wrong defines

law

A breach of the duty of care one individual has toward others is called

negligence

Written instruments drawn in a special form, which can be transferred from person to person as a substitute for money or as an instrument of credit, are called

negotiable instruments

The substitution of a new party for the original party who is to perform is called

novation

Laws passed by local governments are

ordinances

All physical items that are not real property are classified as

personal property

You receive an offer in the mail containing no stipulations as to the acceptance, and you decide to return your acceptance by mail. THe agreement is complete when the acceptance is

placed in the mail by the offeree.

The party who institutes a court action is the

plaintiff

Defamation of character by spoken words or gestures is

slander

Parol evidence is

spoken words

The highest court of a state is the

state supreme court

Laws enacted by legislative bodies are

statutes

The owners of a corporation are known as

stockholders

Personal property which can be seen and touched is

tangible personal property

A person who dies leaving a valid will is called a

testator

The right to sue the federal government is derived from

the Federal Claims act.

In the field of business law, the most important statute is

the Uniform Commercial Code

Any rate of interest above the maximum rate allowable by law is said to be

usurious

A contract made by a person who is intoxicated, but aware of the consequences of his/her actions is

valid

A contract which is enforceable by the courts is

valid

The decision of a jury is the

verdict

A contract made by a legally declared insane person is

void

A contract that is of no legal effect

void

Mutual mistakes as to the existence of the subject matter renders a contract

void

A contract in which undue influence was proven is considered

voidable

A contract made by a person who is so intoxicated as to be unaware of the consequences is

voidable

A contract that may be set aside by at least one of the parties is

voidable

The election to void a contract is called

disaffirmance

The profits of a corporation belong to the corporation until set aside by the directors for distribution as

dividends

A personal representative of the decedent appointed in the will to carry out the provisions of the will is called

executor

When one promises to refrain from doing something, his conduct is known as

forbearance

A contract under seal is called

formal

A contract made with which of these people would be considered void? a. intoxicated person b. minor c. adult d. judicially declared insane persn

judiciallly declared insane person

The laws of city councils are called

ordinances

A contract made by an insane person who has not been declared so judicially is

voidable

A written disposition of property, real or personal, to take effect at the death of an individual is called a

will

The highest court of the land in the US is the

US Supreme Court

The contract between a principal and an agent creates a relationship called

agency

When a funeral director has the personal effects of a dead human body in his possession, he is properly termed a

bailee

The right to declare dividends depends upon the discretion of the

board of directors

Law which is concerned primarily with those rules of conduct involving financial transactions between individuals or legal entities is

business law

Of the following, under normal circumstances, the one(s) having the primary right to control final disposition of a deceased person is

children of legal age

Customs which have come to be recognized by the courts as law describes

common law

Whatever the promisor demands and receives as the price for his promise is called

consideration

The maximum amount of interest that may be charged is called the

contract rate

An association of individuals united for a common purpose and permitted by law to use a common name nad to change its members without dissolution of the associate is a (an)

corporation

In order to be enforceable, a valid contract must meet what requirements? 1. Mutual agreement 2. Competent parties 3. Supported by consideration 4. Lawful purpose

All

The statute listing certain classes of contracts which must be in writing to be enforceable is called the

Statute of Frauds

To read the charge of an indictment is

to arraign

When the duty of care that a motorist owes other motorists and pedestrians is breached and results in injury or damage to anotehr, that motorist has committed a

tort

The law whose purpose is to compensate the aggrieved, not to punish the wrongdoer is

tort law

A private or civil wrong, either intentional or caused by negligence, for which there may be action for damages is

tort.

Common law developed in

England

Which of the following is not a type of infereior state court

Juvenile court

The filing and proving of the will following death is called

probate

An unconditional written promise made by one person to another, signed by the maker, engaging to pay on demand or at a fixed future time, a sum certain in money to order or to bearer is a

promissory note.

Anything that may be owned, possessed, used, or disposed of for a price is called

property

A restatement of one's willingness to be bound by his promises made during minority is called

ratification

Land, timber, minerals, buildings, and other man made property permanently attached to land are

real property

To cancel or annul or avoid a contract is to

rescind

In the state court, the chief officer is

the judge

The court having sole jurisdiction over estates is

the probate court