Business Law

Question 1

Bailee

Answer 1

The party who acquires possession, but not the title of personal property

Question 2

Bailor

Answer 2

The party who gives up possession, but not the title of personal property in a bailment

Question 3

Consignee

Answer 3

One to whom goods are shipped by common carrier

Question 4

One who ships goods by common carrier

Answer 4

Consignor

Question 5

Future goods

Answer 5

Those good selected, which are not an existence at the time in which the contract was created

Question 6

Endorser

Answer 6

Person who writes his or her name on the back of an instrument

Question 7

Endorsee

Answer 7

A person who becomes the holder of an negotiable instrument by endorsement which names him or her as the person to whom the instrument is negotiated

Question 8

Valid contract

Answer 8

A contract which will be enforced by the court

Question 9

Voidable contract

Answer 9

A contract, which would be an enforceable agreement, but due to circumstances, may be set aside by one of the parties

Question 10

Void Contract

Answer 10

An agreement of no legal effect (minors)

Question 11

An oral will stated to a witness, is a

Answer 11

Nuncupative will

Question 12

It will that is handwritten

Answer 12

Holographic

Question 13

A contract in which the parties make their intentions by words

Answer 13

Express contract