Law Compend

default

a breach of contractual obligation other than money is

negligence

a breach of the duty of care one individual has toward other is called

novation

a change of parties with the formation of a new contract is

formal

a contact under seal is called

executory

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

voidable

a contract in which undue influence was proven is considered

void

a contract made by a legally declared insane person 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

voidable

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

agreement

a contract must always be

void

a contract that is of no legal effect

voidable

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

valid

a contract which is enforceable by the court is

executed

a contract whose terms have been fully carried out is

entity

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

trial court

a court of original general jurisdiction is

constitution

a document which defines the relationships of the gov itself and of its citizens is

check

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

an appellate court

a federal court of appeals is

writ

a formal written command issued by a court of law

injunction

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

testator

a person who dies leaving a valid will is called a

a summons

a process may be referred to as

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 in full is

tort

a pvt or civil wrong, either international or caused by negligence, for which there may be action for damages is

ratification

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

restraining order

a temporary order forbidding a certain action is

consanguinity

a term for blood kin is

fiduciary

a term involving a relation of trust or confidence

delegation

a term which means the transfer of one's duty alone without transfer of rights is

holographic will

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

will

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

personal property

all physical items that are not real property are classified as

codicil

an addition or modification of a will is known as a

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

an offer

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

counteroffer

an offer is rejected by

promissory note

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

usurious

any rate of interest above the max rate allowable by law is said to to be

property

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

customs

common law is based on

voidable

contracts in which fraud is proven are considered

common law

customs which have come to be recognized by the courts law describes

slander

defamation of character by spoken words or gestures

torts

generally, a minor is fully liable for his/her

uniform commercial code

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

the judge

in the state court, the chief officer is

real property

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

business law

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

statutes

laws enacted by legislative bodies are

ordinances

laws passed by local govs 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

spoken

oral contracts are

administrative law

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

spoken words

parol evidence is

false testimony

perjury is

tangible personal property

personal property which can be seen and touched is

illegal

price fixing agreements are

intangible personal property

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

law

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

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

probate court

the court having sole jurisdiction over estates is

compensatory damages

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

verdict

the decisions of a jury is the

case law

the doctrine of stare decisis is concerned with

ademption

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

concealment

the failure to volunteer or reveal info not requested is termed

probate

the filling and proving of the will following death is called

state supreme court

the highest court of a state is the

US supreme court

the highest court of the land in the US is the

US constitution

the law of the land in the US is the

tort law

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

ordinances

the laws of city councils are called

contract rate

the max amount of interest that may be charged is called

assignment

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

stockholders

the owners of a corp are known as

plaintiff

the party who institutes a court action is the

jurisdiction

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

dividends

the profits of a corp belong to the corp until set aside by the directors for distribution

disaffirmance

the right a minor has to avoid a contract is termed

board of directors

the right to declare dividends upon the discretion of the

statute of frauds

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

written contracts

the statute of frauds states that for contracts classified under this statue to be enforceable they must be

novation

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

rescind

to cancel or annul or avoid a contract is to

arraign

to read the charge of an indictment is

excess interest

usury is a term which refers to

equity

what is right and just refers to

consideration

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

custodian

when a FD has a dead human body in his care, he is properly termed a

bailee

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

actual custody

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

intestate

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

statute of limitations

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

tort

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

negotiable instruments

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