Mors 200 Arts Final - Mortuary Law Compend- Multiple Choice Part 2
This deck a funeral director holds the personal effects of a deceased person, they act as a bailee, entrusted with safeguarding those belongings.
A contract under seal. A. Simple B. Executed C. Executory D. Formal
Formal
Key Terms
A contract under seal. A. Simple B. Executed C. Executory D. Formal
Formal
Mutual mistakes as to the existence of the subject matter renders a contract: A. Valid B. Void C. Voidable D. Unenforceable
Void
The election to void a contract is called: A. Ratification B. Usury C. Disaffirmance D. Forbearance
Disaffirmance
A restatement of one's willingness to be bound by his promises made during minority. A. Ratification B. Usury C. Disaffirmance D. Forbearance
Ratification
A contract made by a legally declared insane person (Burke) is: A. Valid B. Void C. Voidable D. Unenforceable
Void
A contract made by a person who is intoxicated, but aware of the consequences of his/her actions is: A. Valid B. Void C. Voidable D. Unenforceable
Valid
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| Term | Definition |
|---|---|
A contract under seal. A. Simple B. Executed C. Executory D. Formal | Formal |
Mutual mistakes as to the existence of the subject matter renders a contract: A. Valid B. Void C. Voidable D. Unenforceable | Void |
The election to void a contract is called: A. Ratification B. Usury C. Disaffirmance D. Forbearance | Disaffirmance |
A restatement of one's willingness to be bound by his promises made during minority. A. Ratification B. Usury C. Disaffirmance D. Forbearance | Ratification |
A contract made by a legally declared insane person (Burke) is: A. Valid B. Void C. Voidable D. Unenforceable | Void |
A contract made by a person who is intoxicated, but aware of the consequences of his/her actions is: A. Valid B. Void C. Voidable D. Unenforceable | Valid |
Whatever the promisor demands and receives as the price for his promise is called: A. Consideration B. Forbearance C. Disaffirmance D. Ratification | Consideration |
When one promises to refrain from doing something, his conduct is known as: A. Consideration B. Forbearance C. Disaffirmance D. Ratification | Forbearance |
The statute listing certain classes of contracts which must be in writing to be enforceable is called the: A. Statute of Written Contracts B. Statute of Limitations C. Statute of Frauds D. Statute of Contracts | Statute of Frauds |
The means whereby one party conveys his rights in a contract to another who is not a party to the original contract is called: A. Assignment B. Bill of sale C. A contract of agency D. Novation | Assignment |
The substitution of a new party for the original party who is to perform is called: A. Assignment B. Replacement C. A contract of agency D. Novation | Novation |
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: A. Statute of Time B. Statute of Limitations C. Statute of Frauds D. Statute of Contracts | Statute of Limitations |
Customs which have come to be recognized by the courts as law describes: A. Constitutional law B. Case law C. Common law D. Criminal law | Common Law |
A contract made by an insane person who has not be declared so judicially is: A. Valid B. Void C. Voidable D. Unenforceable | Voidable |
The damages awared to an injured in a contract in which the injured party is entitled to compensation for the exact amount of the loss. A. Nominal damages B. Compensatory damages C. Punitive damages D. Liquidated damages | Compensatory Damages |
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. A. Negotiable instrument B. Bailments C. Fungibles D. Contracts | Negotiable Instrument |
An unconditional written promise made by one person to another, signed by the maker, engaging to pay on demand or a fixed future time, a sum certain in money to order or to bearer. A. Draft B. Check C. Promissory note D. Certificate of deposit | Promissory Note |
A draft drawn on a bank and payable on demand. A. Promissory note B. Debenture C. Certificate of deposit D. Check | Check |
The contract between a principal and an agent creates a relationship called: A. Debenture B. Agency C. Novation D. Ultra vires | Agency |
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. A. Cooperative B. Corporation C. Proprietorship D. Partnership | Corporation |
A corporation has a distinct existence separate and apart from the existence of its individual members. A. Fiduciary B. Annuity C. Proprietary D. Entity | Entity |
The owners of a corporation are known as: A. Directors B. Stockholders C. Makers D. Promoters | Stockholders |
The right to declare dividends depends upon the discretion of the: A. Promoter B Stockholders C Board of directors D Shareholders | Board of Directors |
The profits of a corporation belong to the corporation until set aside by the directors for distribution as: A. Drafts B. Patents C. Dividends D. Deeds | Dividends |
All physical items that are not real property are classified as _______. A. Personal property B. Perpetual property C. Short-term property D. General property | Personal Property |