American Board Of Funeral Service Education
(ABFSE) Glossary - Business Law: Qs & As
Save
Practice questions for this set
Learn 1 /7 Study using Learn
false statement of a material fact
Choose an answer
1 misrepresentation 2 Acceptance
3 bailment 4 antitrust law
Don't know?
Terms in this set (146)
Acceptance an agreement to an offer resulting in a contract
Accord and satisfaction an agreement made and executed in fulfillment of
the rights one has from a previous contract
agent the party appointed by the principal to enter into a
contract with a third-party on the behalf of the
principal
, answer official document responding to the plaintiff's
complaint
antitrust law laws which seek to promote competition among
businesses
apparent authority the rights an agent is believed to have by third
parties because of the principal's behavior
appeal request to a higher court to review a lower court's
decision
appellate courts courts that hear cases appealed from a lower court
assignee a third-party to whom rights in a contract are
assigned
assignment a means whereby one party in a contract conveys
rights to another, who is not a party to the original
contract
assignor the party assigning rights in a contract to a third-
party
bailee the party who acquires possession, but not the title,
of another's personal property, under agreement
bailment the transfer of possession, but not the title of
another's personal property, under agreement
bailor the party who gives up possession, but not the title,
of personal property in a bailment
beneficiary recipient of the proceeds of a life insurance policy
bilateral contract a legally enforceable agreement which consists of
mutual promises to perform future acts
(ABFSE) Glossary - Business Law: Qs & As
Save
Practice questions for this set
Learn 1 /7 Study using Learn
false statement of a material fact
Choose an answer
1 misrepresentation 2 Acceptance
3 bailment 4 antitrust law
Don't know?
Terms in this set (146)
Acceptance an agreement to an offer resulting in a contract
Accord and satisfaction an agreement made and executed in fulfillment of
the rights one has from a previous contract
agent the party appointed by the principal to enter into a
contract with a third-party on the behalf of the
principal
, answer official document responding to the plaintiff's
complaint
antitrust law laws which seek to promote competition among
businesses
apparent authority the rights an agent is believed to have by third
parties because of the principal's behavior
appeal request to a higher court to review a lower court's
decision
appellate courts courts that hear cases appealed from a lower court
assignee a third-party to whom rights in a contract are
assigned
assignment a means whereby one party in a contract conveys
rights to another, who is not a party to the original
contract
assignor the party assigning rights in a contract to a third-
party
bailee the party who acquires possession, but not the title,
of another's personal property, under agreement
bailment the transfer of possession, but not the title of
another's personal property, under agreement
bailor the party who gives up possession, but not the title,
of personal property in a bailment
beneficiary recipient of the proceeds of a life insurance policy
bilateral contract a legally enforceable agreement which consists of
mutual promises to perform future acts
