NBE Study Guide Regulatory Compliance Part III

talovozo's version from 2017-12-26 21:24

Section 1

Question Answer
mortgagesecured loan on a parcel of real estate
moral turpitude crime involving a willful wrongdoing, usually a felony
mortuary law/mortuary jurisprudence/funeral service lawthat branch of law that relates to matters concerned with disposal of the dead
mutilationaltering and object or human body from its original condition
necessaries (necessities)items, required or proper and useful, for sustaining a human being at an appropriate living standards (food, clothing, shelter)

Section 2

Question Answer
negligencefailure to exercise ordinary care; omission to do something which a 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 (exercised by a wrongdoer who has not acted as a reasonable person would)
negotiable instrument (commercial paper)a writing drawn in a special form which can be transferred from person to person as a substitute for money or as an instrument of credit
negotiationthe act of transferring ownership of a negotiable instrument to another party
nominal damagesa token award to symbolize vindication of the wrong done to the plaintiff; generally, the award is $1.00
nominal partnerperson who pretends to be a partner or permits others to represent him or her as a partner

Section 3

Question Answer
non-declinable feeservices not to be included in prices of other categories that are furnished by a funeral provider in arranging any funeral, such as conducting the arrangements conference, planning the funeral, obtaining needed permits, & placing obituary notices
novationthe change of one's parties to a contract at the mutual agreement of the parties
nuisancea landowner's use of property which interferes with the public's or another landowner's use of his property
nuisance in factact, occupation or structure taht is not a nuisance per se, but may become a nuisance by circumstances of the location or manner in which it is operated
nuisance per seact, occupation, or structure which is a nuisance at all times and under all circumstances. It may be prejudicial to public morals, dangerous to life, or injurious to public rights

Section 4

Question Answer
nuncupative willoral will dictated by testator during last illness before appropriate witnesses to dispose of personal property and afterwards reduced to writing
occupational safety and health administration (OSHA)governmental agency with the responsibility for regulatory and enforcement of safety and health matters for most employees
offer an expression of willingness to enter a contractual agreement
ofereethe person to whom an offer is made
offerorthe party who initiates, or makes an offer

Section 5

Question Answer
order papera commercial paper made payable "to the order of" some named party; the word "order" or its equivalent must be used
ordinancea law passed by a municipal governing body pertaining to matters not already covered by a federal or state law (zoning, building, safety ordinances,)
outer burial container price list (OBCPL)list of outer burial containers normally offered for sale by the funeral provider which does not require special ordering. Must include retail priceand descriptive info
outrageous actan act with complete disregard for proper conduct
partnershipvouluntary association of two or more people who have combined their resources to carry on as co owners of a lawful enterprise for their joint profit

Section 6

Question Answer
parts per million/ppmmethod of expressing low concentrations; 1 ppm is equivalent to 1 milligram per liter; in contaminated air, parts of vapor or gas
par-value stockstock with an assigned face value
payeethe party to whom any negotiable instrument is made payable
per capitamethod of dividing up an estate by which an equal share is given to each of a number of persons, all of whom stand in equal degree to the decedent
per stirpesthe method of dividing up an estate where a class or group takes the share which the deceased would have been entitled too, and not as so many individuals (right of representation)

Section 7

Question Answer
permissable exposure limit/pelmaximum legal limits established by OSHA for regulated substances, based on 8 hour work shift. Formaldehyde PEL ,75 ppm
personal propertyall property which is not real property
personal service contractcontract which involves such personal knowledge, skills or confidence that it can only be performed by the person with whom it is made; a contract whereby both parties should recognize that any breach will usually come anguish
personal representativeperson who represents and settles the estate of deceased persons, (executors adminstartors)
petition (complaint)written request initiating a civil suit

Section 8

Question Answer
plaintiffthe individual who initiates a civil action
police powerthe inherent power of every government to make reasonable laws to protect the safety, health, morals, and gen welfare of its citizens
power of attorneyinstrument granting someone authority to act as an agent or attorney-in-fact for the grantor; ordinary power of attorney is revocable and automatically ends upon death or incapacity of the principal
precedenta decision of a court which is thereafter followed by an example by other courts
preferred stockstock giving special advantage as to payment of dividends, upon liquidation or both

Section 9

Question Answer
prep roomfacility in a funeral home especially designed for prep and embalming of bodies
priceconsideration stipulated by contract, generally expressed in money and money's worth
principalparty who appoints a second party to serve as an agent
private carriersthose who transport only in particular instances and only for those they choose (funeral home vehicle, livery)
private corporationa corporation performed by individuals to form some non-governmental function

Section 10

Question Answer
probatethe act or process of proving a will
probate courta court having jurisdiction over estates
probate estateproperty of a decedent that is subject to administration by the executor or administrator of an estate
process (summons)notice of complaint given to a defendant, defining the complaint and a time frame in which a response, or answer, must be filed, and which serves the purpose of conferring personal jurisdiction over the defendant
promissory estoppelan equitable doctrine that prevents the promisor from revoking the promise when the promisee justifiably acts in reliance upon the promise to his detriment

Section 11

Question Answer
promoterone who takes initial step to form corporation
propertyanything that may be owned
public corporationcorporation performed to carry out government functions
punitive damgesan award paid to the plaintiff in order to punish the defendant, not award the plaintiff
qualified endorsementan endorsement which limits the liability of the endorser

Section 12

Question Answer
quasi contracta fictional contract applied by a court for a person who is unable to contract himself (medical care, death); created law in the absence of an agreement
quasi-property-theorythe accepted theory of the legal status of a dead body, rights associated with the body are as if it was property for the purpose of disposition only
ratificationconfirming an act that was executed without authorty or an act which was voidabel
real propertyland and those objects permanently attached to land
reciprocitythe relationship existing between two states whereby each extends privalages of licenser to licensees of the other state`

Section 13

Question Answer
rejectionrefusal to accept
replevinan action to recover possession of personal property
rescissioncanceling, anulling, avoiding
restricting covenant provision in a deed limiting the use of property and prohibiting certain uses
restrictive endorsementan endorsement which prevents the use of an instrument for anything except its stated use

Section 14

Question Answer
revocationthe annulment or cancellation of an instrument, act or promise by one doing or making it
rules and regualtionsenactments by an administrative body governing the jurisdiction of that agency
salethe transfer of title to goods from the seller to the buyer for consideration called the price
secret partnerpartner active in a business unknown to the public
secured claimclaim that is supported by a pledge of assets belonging to the debtor

Section 15

Question Answer
service contractscontracting of services rather than goods
shareholders (stockholders)those having title to one or more shares of stock in a corporation; combined, they represent the ownership of the corporation
sherman antitrust actlegislation intended to promote competition among businesses by prohibiting restraint of trade
short term exposure limit/STELlegal limits established by OSHA to which workers can be exposed, with out damage or harm (no longer 15min, 4 times a day)
silent partneran individual who takes no active part in the management of a business, but has capital invested in the business

Section 16

Question Answer
simple contractany contract other than a formal contract, whether written, oral, or implied
soldiers and sailors willnuncupativewill, informal in nature, in which a soldier in the field or sailor at sea may dispose of personal property only
solvent estatean estate in which the assets exceed the liabilities
sole proprietorshipbusiness owned by one person
special agentone authorized by the principal to execute specific acts

Section 17

Question Answer
special endorsementendorsement which designates the particular person to whom payment is made
special performancecontract remedy by which the court requires the breaching party to perform the contract
springing power of attorneyan instrumentin writing authorizing one person one person to act as an agent for another affective only upon a certain event occuring
stare decisispolicy of courts to stand by a precedent and apply it to all future cases where facts are substantially the same; to stand by things decided
statuteparticular law enacted by a legislative body

Section 18

Question Answer
statement of funeral goods and services selecteditemized written statement provided for retention to each person who arranges a funeral or other disposition. Must include goods and services selected and prices paid for each, itemization of cash advance items and the total cost
statutory lawlaw created by legislative bodies in a contrast to a law generated by judicial opinions (case law) and administrative bodies
statute of fraudsstatute formally enacted by English Parliament and now enacted in some states, listing certain types of contracts that can only be enforced in written form
statute of limitationslaw that restricts the period of time with which an action may be brought to court
stockholders (shareholders)those having title to one or more shares of stock in a corporation; combined, they represent ownership of the corporation

Section 19

Question Answer
subchapter s corporationcreation of the tax codes; shareholders elect to be taxed as a partnership (no double taxation) without losing corp status
testatecondition of leaving a will at death
testatorman who makes a valid will
testatrixwoman who makes a valid will
third party beneficiaryperson noy party to a contact, but whom parties intend to benefit

Section 20

Question Answer
time weighted average/TWAevaluation of exposure that are time-weighted over an established period (averaged over 8 hour)
tortwrongful act committed by one person against another person or his property
treasury stockstock reacquired by a corporation
triggering eventoccurrence of a situation that requires an action (GPL)
trusteeone who holds a position of trust to beneficiary; in funeral arrangements, the person who has the right to control the funeral on behalf of all the survivors