Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

Business Law for Mortuary Science & Funeral Service Law > First Quarter Final Exam > Flashcards

First Quarter Final Exam Flashcards

You may prefer our related Brainscape-certified flashcards:
Civil Procedure 1L flashcards MBE flashcards MPRE flashcards Biology 101 flashcards
1
Q

Acceptance

A

assent to an offer indicating an agreement to accept it’s term

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

Administrative Agency Law

A
  • Commissions created by legislature
  • Enact rules to regulate business and industry
    (ex. FTC, OSHA ADA)
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

Affirmance

A
  • confirmation of something previously done
  • Minor can only affirm or ratify after reaching adulthood and
  • can only disaffirm as a minor (after affirming, you cant disaffirm)
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

Are contracts from incompetent people valid?

A
  • Adjudicated Incompetent people= void
  • Nonadjudicated Incompetent people= voidable like a minor until person is adjudicated
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

Are contracts with a minor valid?

A

Yes, voidable (the minor’s option) except for necessities

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

Assignments

A

transferring rights under a contract to a 3rd party; assignor to assignee

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

Beneficiary

A

person not a party to a contract that receives some benefit from it.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

Bilateral Contract

A

a promise given in exchange for another’s promise

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

Bilateral/Mutual Mistake

A
  • Majority states say void
  • Some states say voidable
  • In any event, it is unenforceable
  • Must be mistake as to material part of contract such as the subject matter
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

Business Law

A

laws regarding the performance of business and commercial transactions

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

Case Law

A
  • Appellate court decisions
  • stare decisis (stand by the decision)
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

Civil Law

A

laws concerning private rights between individuals

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

Classification of the State Court System

A

a)Trial court – court of original jurisdiction. Known by many names depending on the state and location
b) Appellate Courts
1. Court of Appeals
2. Supreme Court of the state

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

Common Law

A
  • History and source of American Laws
  • a custom which has become recognized by the courts as binding on the community. Still referred to today in some cases.
  • Laws the Pilgrims brought from England.
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

compensatory

A

Actual damages you suffer.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

Complaint/Petition

A

the lawsuit

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
17
Q

Consideration

A
  • Whatever a promisor (offeror) gives or promises to give to another in exchange for that other person’s promise or action to give to them.
  • Both parties must give consideration but does not have to be equal. Must be something of value

Ex. You pay a contractor half the cost to build a shed before he begins building it. So he is bound to begin working and when he begins the work, you’re bound to pay him once the work is complete.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
18
Q

Constitution of the United States

A
  • supreme law of the US
  • defines relationship between different branches of government to each other and to the people
  • Has the Bill of RIghts (1st 10 amendments)
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
19
Q

creditor beneficiary

A

loans money to a party of a contract
- may sue for breach

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
20
Q

Crime

A
  • offense against society as a whole,
  • violation against a statute or ordinance
  • felony and misdemeanor
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
21
Q

Defendant

A

person being sued

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
22
Q

Delegation of duties

A

transferring your obligation to a 3rd party

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
23
Q

Disaffirmance

A

renouncing a contract previously accepted (only minors can do this)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
24
Q

Discovery

A

depositions (oral) and interrogatories (written)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
25
Q

Divisible Contracts

A

Many parts that can be preformed separately

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
26
Q

Donee Beneficiary

A

one who receives a gift under a contract
- may sue for breach

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
27
Q

Equity

A

relief sought in lieu of money damages which would be awarded by a law court. Ex: suit in equity for a restraining order

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
28
Q

Executed Contract

A

all terms have been completely performed

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
29
Q

Executory Contract

A

all terms have not been completely performed

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
30
Q

Expressed

A

all terms are stated either orally or written

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
31
Q

Forbearance

A
  • promising (forbearing) not to do something.
  • Can act as consideration if you had a legal right to do it.
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
32
Q

Formal Contract

A

Some states require a formality such as witnesses, a seal or notary
additional requirement for a valid contract

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
33
Q

Function of the Courts

A

Listen to facts, evidence, etc. as it applies to the issue of law and make a decision

34
Q

Indivisible

A

All parts are performed as one

35
Q

Judge

A

bench trial (judge only)
the decision by a judge

36
Q

Jurisdiction

A
  • subject matter
  • court must have authority to hear a particular case;
  • personal (over the parties)
37
Q

Jury

A
  • A verdict
  • must be written (some states require a signature of all jurors)
38
Q

Law

A

rule of civil conduct commanding to do what is right and prohibiting what is wrong

39
Q

Liquidated

A

amount of money shown in contract if contract is breached

40
Q

Mailbox Rule

A

contract/agreement/paperwork must be postmarked by a certain time

41
Q

Minor

A
  • age at common law an adult was 21., but state statutes could be different
  • Most states – a minor is 17 and under for contractual purposes
42
Q

Necessities

A

food, clothing, shelter, medical, insurance, items necessary for school or work

43
Q

Nominal

A

breach of contract but no one suffers

44
Q

Offer and Acceptance

A

offeror proposes terms to an offeree
Only the offeree can accept the offer

45
Q

Option Contract

A

offeror accepts something of value to keep the offer open for a specified time

46
Q

Ordinances

A

Statutes enacted by local governments

47
Q

Parol Evidence Rule

A

can not introduce oral testimony to change terms of a written contract

48
Q

Plaintiff

A

person who files a lawsuit

49
Q

Punitive

A

money awarded to punish the other party; over or above

50
Q

Quasi Contract

A
  • an after-the-fact contract between two parties who were otherwise not in a legal commitment to one another.
  • mandated by a judge seeking to address a situation where one party benefited from something at the expense of the other.
51
Q

Ratification

A

giving formal consent to a contract making it officially valid

52
Q

Reason to Terminate Contracts

A
  • Performance: must be substantial and satisfactory to both parties
  • By Operation of Law: Bankruptcy, expiration of statute of limitations (5 years for verbal, 10 years for written), material alteration of a written contract
  • Impossibility of Performance: death (can have exceptions), insanity, illegality
  • Voluntary Agreement to terminate contract
53
Q

Remedies for Breach of Contract

A

you can either rescind and walk away OR sue for breach of contract

54
Q

Requirements for a Statutes of Frauds contract

A
  • can be a note or memorandum
  • all material terms must be stated
  • in existence by time of suit
  • signed by party being sued
    Parol Evidence Rule applies
55
Q

Restraint of Trade

A

Price fixing, dividing trade territories, and lesson competition

56
Q

Rules for Delegation of Duties

A
  1. can not transfer personal service contracts
  2. transferor is not relieved of liability
  3. if new party is substituted in for a party and other original party agrees to release the transferor of liability, a new contract is formed and is called a “Novation”
57
Q

Simple Contract

A

a contract not requiring a formality

58
Q

Specific Performance or relief in equity examples

A

Examples: injunction=perminant, restraining order= temporary, replevin= suite to recover personal property, performance

59
Q

Statute

A

enacted by state or federal government

60
Q

Statute of Frauds

A
  • Contracts required to be in writing (can’t sue if it’s not in writing)
  • applies to executory contracts only
61
Q

Statutory Law

A

formal enactments of a law by a legislature

62
Q

Subpoena

A

served on a witness

63
Q

Summons

A

served upon defendant

64
Q

Types of Money Damages

A

compensatory/actual
punitive
nominal
liquidated

65
Q

Unilateral Contract

A

a promise given in exchange for an act to be performed

66
Q

Unililateral Mistake

A
  • only one party makes a mistake
  • has no effect on validity
67
Q

Usary

A

charging an excessive rate of interest for the loaning of money

68
Q

Valid Contract

A

Completely enforceable by either party.

69
Q

Venue

A

location where a case is heard
(ie: state, county, city)

70
Q

Void

A

Completely unenforceable

71
Q

Voidable

A

valid but may be avoided by either or both parties

72
Q

What contracts are illegal by statute?

A

a) Gambling Contracts
b) Sunday Contracts
c) Usury
d) Unlicensed Operators
e)Sale of Prohibited Articles
f) Restraint of Trade

73
Q

What type of contracts have to be in writing?
Statute of Frauds

A
  • sale of land (real property) - impossible to perform within one year
    • promise to pay the debts of another person
  • agreements of executor or administrator to pay debts of an estate out of their own funds
    • any promise in consideration of marriage
  • sale of personal property in the amount of $500 or more, under UCC
74
Q

Writ of Certiorari

A

order to produce the record of a case heard by a lower court

75
Q

Precedent

A

court decision that may determine the decision in a subsequent case with the same facts and issues of law

76
Q

Requirements of a Valid Offer

A

definite, seriously intended, communicated to offeree

77
Q

Who can accept an offer?

A

Anyone except:
- minors- voidable except for necessities (food, clothing, shelter, medical, insurance, items necessary for school/work)
- adjudicated incompetent people- void
- unadjudicated incompetent people-voidable
- intoxicated people- same as minors

78
Q

Contracts not to compete

A

can be legal if reasonable re: time and area

79
Q

Unlicensed Operators

A

illegal to operate certain businesses without a license; contracts made under unlicensed operators are void

80
Q

Sue for specific performance/ suit in equity

A

a court issues an order requiring a party to perform a specific act, and to specifically perform according to the terms of a contract.

81
Q

Stare Decisis

A

the legal principle of determining points in litigation according to precedent.
- to stand by things decided

82
Q

Requirements of a valid contract

A

mutual agreement
competent parties
consideration
legality

Business Law for Mortuary Science & Funeral Service Law (21 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2024 Bold Learning Solutions. Terms and Conditions