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AAMI Comprehensive Review Arts Week 4 - Law, Mortuary Law, FTC questions with correct answers
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AAMI Comprehensive Review Arts Week 4 - Law, Mortuary Law, FTC questions with correct answers
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AAMI Comprehensive Review Arts Week 4 - Law,Mortuary Law, FTC questions with correct answers
Recipient of the proceeds of a life insurance policy; one who inherits
property specified in a will. Correct Answer-Beneficiary
An agreement between two or more competent parties which is
enforceable by law. Correct Answer-Contract
Correct Answer-Common Law
An award paid to the plaintiff in order to punish the defendant, not to
compensate the plaintiff. Correct Answer-Punitive Damages
The principle that the decision of a higher court should serve as a guide
or precedent and control the decision of a similar case in the future.
Correct Answer-Stare Decisis
A private or civil wrong, other than breech of contract, for which there
may be action for damages. Correct Answer-Tort
Laws which are enacted by legislative bodies. Correct Answer-Statutes
An agreement of no legal effect. Correct Answer-Void Contract
A proposal to make a contract. Correct Answer-Offer
,Transfer of possession, but not the title, of personal property by one
party or another, under agreement. Correct Answer-Bailment
That which the promissor demands and receives as the price for a
promise. Correct Answer-Consideration
Contracts in which the terms have been fulfilled. Correct Answer-
Executed Contract
One who contracts to perform certain tasks for a set free, but who is
independent of the control of the contracting party as to a means by
which the contract is executed, except for specifications established in
the contract. Correct Answer-Independent Contractor
Failure to exercise ordinary care; omission to do something which is
reasonable prudent person would do under ordinary circumstances or the
doing of something which a reasonable and prudent person would not
do; the lack of due care. Correct Answer-Negligence
The annulment or cancellation of an instrument, act or promise by one
doing or making the offer. Correct Answer-Revocation
Land and those objects permanently attached to the land. Correct
Answer-Real Property
, A negotiable instrument containing a promise to pay. Correct Answer-
Promissory Note
One who initiates a civil action. Correct Answer-Plaintiff
Recognized as the most important statute in business law, it includes
provisions which regulate certain sales of goods and negotiable
instruments. Correct Answer-Uniform Commercial Code
Guarantee made by a seller that an article, good or service will conform
to a certain standard or will operate in a certain manner. Correct
Answer-Warranty
Improper influence that is asserted by one dominant person over another,
without the threat of harm. Correct Answer-Undue Influence
Contract existing between the consignor and the carrier. Correct
Answer-Bill of Lading
One who ships goods by common carrier. Correct Answer-Consignor
The person who executes a draft Correct Answer-Drawer
Rate of interest which exceeds the maximum that is allowed. Correct
Answer-Usury
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