Mors 200 Arts Final - Mortuary Law Compend- Multiple Choice Part 6
This deck will is a legal document that directs the distribution of a person’s property after death.
goods which are owned by the seller and are physically in existence at the time of the contract are known as A. existing goods B. identified goods C. future goods D. fungible goods
existing goods
Key Terms
goods which are owned by the seller and are physically in existence at the time of the contract are known as A. existing goods B. identified goods C. future goods D. fungible goods
existing goods
when the buyer makes a selection of goods which are to be purchased from the seller, the goods are classified as A. existing goods B. future goods C. identified goods D. fungible goods
identified goods
goods of a homogenous nature which are sold by weight or measure are known as A. identified goods B. fungible goods C. existing goods D. future goods
fungible goods
bailment in which the bailee does not recieve any compensation is A. gratuitous bailment B. incidental bailment C. extraordinary bailment D. fiduciary bailment
gratuitous bailment
reasonable care, under circumstances, is a required standard in ordinary bailments by the A. bailor B. assessor C. agent D. bailee
bailee
a carrier owned by a shipper for the purpose of shipping its own goods is A. public carrier B. progressive carrier C. prohibited carrier D. private carrier
private carrier
Related Flashcard Decks
Study Tips
- Press F to enter focus mode for distraction-free studying
- Review cards regularly to improve retention
- Try to recall the answer before flipping the card
- Share this deck with friends to study together
| Term | Definition |
|---|---|
goods which are owned by the seller and are physically in existence at the time of the contract are known as A. existing goods B. identified goods C. future goods D. fungible goods | existing goods |
when the buyer makes a selection of goods which are to be purchased from the seller, the goods are classified as A. existing goods B. future goods C. identified goods D. fungible goods | identified goods |
goods of a homogenous nature which are sold by weight or measure are known as A. identified goods B. fungible goods C. existing goods D. future goods | fungible goods |
bailment in which the bailee does not recieve any compensation is A. gratuitous bailment B. incidental bailment C. extraordinary bailment D. fiduciary bailment | gratuitous bailment |
reasonable care, under circumstances, is a required standard in ordinary bailments by the A. bailor B. assessor C. agent D. bailee | bailee |
a carrier owned by a shipper for the purpose of shipping its own goods is A. public carrier B. progressive carrier C. prohibited carrier D. private carrier | private carrier |
a document of title which sets forth the contract between the shipper and carrier is the A. bill of lading B. bill of shipment C. bill of consignment D. bill of contents | bill of lading |
the deposit of tangible personal property as security for some debt or obligation is A. liability B. pawn C. pledge D. consignment | pawn |
in a bailment, the person who retains the title but gives up possession of the goods is the A. bailee B. consignee C. contractor D. bailor | bailor |
in an auction, goods which are offered for sale that cannot be withdrawn are classified as A. goods offered with reserve B. consigned goods C. goods offered without reserve D. future goods | goods offered without reserve |
a carrier that transports goods and persons for a fee for all who apply for services and without discrimination is called a A. consignment carrier B. private carrier C. common carrier D. contract carrier | common carrier |
indorsements of commercial paper include which of the following?
| 2,3 and 4blank indorsementqualified indorsementrestrictive indorsement |
the person who signs a promissory note and is obligated to pay at maturity is called the A. payer of the note B. holder of the note C. acceptor of the note D. maker of the note | maker of the note |
A sealed written contract usually issued by a corporation, a municipality, or a government which contains a promise to pay a sum certain in money at a fixed or determinable future time. A. Promissory note B. Bond C. Draft D. Collateral note | Bond |
A check that a bank draws on its own funds and is signed by a responsible bank official but may be used by anyone to pay a debt. A. Certified check B. Voucher check C. Cashier's check D. Bank Draft | Cashier's Check |
An indorsement which limits the liability of the endorser. A. Conditional indorsement B. Restrictive indorsement C. Special indorsement D. Qualified indorsement | Qualified Indorsement |
Factors del credere are: A. Brokers B. Commission mechants C. General agents D. Attorney's in fact | Commission Merchants |
The most common method of creating an agency is by: A. Appointment B. Estoppel C. Ratification D. Necessity | Appointment |
An individual who brings together contracting parties. A. Broker B. Principal C. Factor D. Bailor | Broker |
The party appointed by another to act in his/her name in forming contracts with third parties. A. Principal B. Defendant C. Agent D. Maker | Agent |
The party who appoints an agent. A. Factor B. Agency C. Prohibition D. Principal | Principal |
One who receives possession of another's property for sale on commission. A. A special agent B. Factor C. Broker D. Attorney in fact | Factor |
An agent that has been appointed by a sealed written authorization which states that the agent is to act in the principal's behalf. A. Factor B. Factor del credere C. Attorney in fact D. Broker | Attorney in Fact |
A principal owes which of the following duties to the agent? A. Compensation B. Loyalty ad good faith C. Obedience D. Accounting | Compensation |
An agent owes which of the following duties to his principal? A. Compensation B. Loyalty and good faith C. Reimbursement D. Indemnification | Loyalty and Good Faith |