Funeral Service Compend: Mortuary and Business Law

A contract which is based upon acts being done in consideration for a promise is called

A unilateral contract

When a buyer takes actual possession of goods which have been offered for sale, this action is called

An acceptance

Reasonable care, under the circumstances, is required standard in ordinary bailments by the

Bailee

In a bailment, the person who retains title but gives up possession of the goods is the

Bailor

The doctrine of stare decisis is concerned with

Case law

Common law is based on

Customs

A breach of contractual obligation other than money is

Default

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

Delegation

The right a minor has to avoid a contract is termed

Disaffirmance

What is right and just refers to

Equity

Ursury is a term which refers to

Excess interest

Perjury is

False testimony

Goods of homogeneous nature which are sold by weight or measurement are known as

Fungible goods

When the buyer makes a selection of goods which are to be purchased from the seller, the goods are classified

Identified goods

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

Insolvent estate

A newspaper advertisement can be an offer if it shows

Intent

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

Juvenile court

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

Law

A change of parties with the formation of a new contract is referred to as

Novation

To cancel or annul or avoid a contract is to

Rescind

Parol evidence is

Spoken words

The highest court of a state is the

State supreme court

Personal property which can be seen and touched is

Tangible personal property

Which of the following is a mistake that does not render an agreement defective?

Terms of the contract

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

The Uniform Commercial Code

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

Tort

The law of the land in the United States is the

U.S. Constitution

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

Ultra vires

Contracts in which fraud is proven are considered

Voidable

The Statute of Frauds states that for contracts classified under the statute to be enforceable they must be

Written contracts