Law Flashcards
When a funeral director has a dead human body in his/her care, he/she is properly termed a:
Bailee
Bailor
Consignor
Custodian
Custodian
An addition or modification of a will is known as a:
Codicil
Deed
Gift
Letters Testamentary
Codicil
A person appointed by the court to oversee the estate of an intestate is called:
Administrator
Executor
Heir
Legatee
Administrator
When a person dies without a will, he is said to die:
Administrator
Executor
Intestate
Testate
Intestate
What is a written disposition of property, real or personal, to take effect at the death of an individual?
Deed
Lease
Promissory Note
Will
Will
What is a private or civil wrong, either intentional or caused by negligence, for which there may be action for damages?
Fraud
Tort
Undue Influence
Unjust Enrichment
Tort
In order to be enforceable, a valid contract must meet which of the following requirements?
- Mutual Agreement
- Competent Parties
- Supported by Consideration
- Lawful Purpose
1
1 and 2
1, 2, and 3
1, 2, 3 and 4
1, 2, 3 and 4
What is a breach of duty of care one individual has toward others?
Civil Law
Criminal offense
Negligence
Promissory Estoppel
Negligence
What is the election to void a contact called?
Disaffirmance
Forbearance
Ratification
Usury
Disaffirmance
The maximum amount of interest that may be charged is called the:
Capital Rate
Contract Rate
Legal Rate
Prime Rate
Contract Rate
Whatever the promisor demands and receives as the price for his promise is called:
Consideration
Disaffirmance
Forbearance
Ratification
Consideration
What are customs which have come to be recognized by the courts as law?
Case Law
Common Law
Constitutional Law
Criminal Law
Common Law
What are 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?
Bailments
Contracts
Fungibles
Negotiable Instruments
Negotiable Instruments
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:
Statute of Contracts
Statute of Frauds
Statute of Limitations
Statute of Time
Statute of Limitations
What are damages awarded an injured party in a contract in which the injured party is entitled to compensation for the exact amount of the loss?
Compensatory Damages
Liquidated Damages
Nominal Damages
Punitive Damages
Compensatory Damages
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(n):
Cooperative
Corporation
Partnership
Proprietorship
Corporation
All physical items that are not real property are classified as:
General Property
Perpetual Property
Personal Property
Short-Term Property
Personal Property
What is law whose purpose is to compensate the aggrieved, not punish the wrongdoer?
Business Law
Criminal Law
State Law
Tort Law
Tort Law
What is personal property that can be seen and touched?
Intangible Personal Property
Limited Personal Property
Real Property
Tangible Personal Property
Tangible Personal Property
A corporation has a distinct existence separate and apart from the existence of its individual members which is known as a(n):
Annuity
Entity
Fiduciary
Proprietary
Entity
What is a will written entirely by the testator with his/her own hand?
Holographic Will
Noncupative Will
Regular Will
Testate Will
Holographic Will
Of the following, under normal circumstances, the one(s) having the primary right to control final disposition of a deceased person is:
Brothers and Sisters
Children of Legal Age
Grandparents
Parents
Children of Legal Age
The condition of an estate of a deceased person which is unable to pay debts of the decedent and/or the estate is referred to as being:
Insolvent Estate
Intestacy per Capita
Intestacy per Stirpes
Solvent Estate
Insolvent Estate
What is the most important statute in the field of business law?
Common Law
The Business Code of Ethics
The Federal Tort Claims Act
The Uniform Commercial Code
The Uniform Commercial Code