Mortuary and Business Law Compend Questions

consanguinity

a term for BLOOD kin

abatement

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

an injunction

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

restraining order

a TEMPORARY order forbidding a certain action is

valid

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

voidable

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

void

a contract that is of no legal effect is

formal

a contract under seal is called

a trial court

a court of original general jurisdiction is

administrator

a person appointed by the court to oversee the estate of intestate

testator

a person who dies leaving a valid will is called a

a summons

a process may be referred to as

ratification

a restatement of ones willingness to be bound by his promises made during minority is called

personal property

all physical items that are not real property are classified as

corporation

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

an offer

an expressed willingness from a person to enter into a contractual agreement

slander

defamation of character by SPOKEN words or gestures

torts

generally, a minor is fully liable for his/her

mutual agreement competent parties supported by consideration lawful purpose

in order to be enforceable, a valid contract must meet which of the following requirements?

the uniform commercial code

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

the judge

in the state court, the chief officer is

statutes

laws enacted by legislative bodies are

anti trust laws

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

void

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

fraud

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

administrative law

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

spoken words

parol evidence is

intangible personal property

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

insolvent estate

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

agency

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

compensatory damages

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

disaffirmance

the election to void a contract is called

ademption

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

state supreme court

the highest court of a state

contract rate

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

assignment

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

jurisdiction

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

disaffirmance

the right a minor has to avoid a contract is termed

board of directors

the right to declare dividends depends upon the discretion of the

federal claims act

the right to sue the federal government is derived from

novation

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

equity

what is right and just refers to

forbearance

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

negotiable instruments

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

juvenile court

NOT a type of inferior state court

voidable

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

an appellate court

a federal court of appeals

terms of the contract

a mistake that does NOT render an agreement defective

intent

a newspaper advertisement can be an offer if it shows

executor

a personal representative of the decedent appointed in the will to carry out provisions of the will

holographic will

a will written entirely by the testator with his own hand

codicil

an addition or modification of a will is known as a

case law

the doctrine of stare decisis is concerned with

actual custody

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

bailee

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

placed in the mail be the offeree

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

statute of frauds

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