Business Law and Ethics Mid Terms

Who defines "law"

William Blackstone

What is the natural law theory

Human nature creates law

What is empirical law theory

Law changes with time

Define common law

unwritten maxims which become binding over time

Define Equity Law

What is right and just under the circumstances provides relief other than money

What is the constitutional source for business law

Gives power to the government, Limits the governments power through checks and balances, and outlines specific rights of the people

What is a statutes

laws that are entranced by legislative bodies (state and federal laws)

What is an ordinance

Laws made by city municipalities' and/or local districts

What does the term "Stare Decisis" mean?

Standing by the decision

What are administrative agencies

Part of the government with the authority to enact laws

Give two examples of an administrative agency

The FDA and the FTC

Defin Tort

a civil wrong—other than a breach of contract—that causes harm, injury, or loss to another person's body, property, or reputation, resulting in legal liability for the wrongdoer

How is a jurisdiction determined

Subject matter of the case, the persons involved and the geographic area in which events occurred

What does a trial court do

conducts original cases

What does an appellate court do

Court that reviews the decision of another court (3-5 judges on a panel.. Usually)

What does a Supreme Court do

Has two jurisdictions which have all power over ambassadors, public ministries or of a state is a party on a suit

What are the "levels" to federal courts

Special federal courts, Federal district courts and federal court of appeals

During arrangements, the man seems distressed, dazed and confused. At the end he signs the statement of goods and services and leaves, still dazed and confused. What type(s) of contract is this?

A voided contract - Party was not in correct state of mind to be going forth with said contract.

What is an executory contract

Contract not fully carried out - Pre-need

What is an executed contract

Fully performed contracts

How must revocation of an offer occur

Must be communicated prior to acceptance

How must acceptance of an offer occur

Can be oral but should always be followed by written contract

What is the mailbox rule

when an offer is sent that doesn't specify the manner of acceptance

Void contract

A contract with no legal effect

Voidable contract

a valid contract that can be set aside at the option of one of the parties

Formal contract

contracts with form or manner of formation (with a seal or signature, seal implies consideration)

Valid contract

Must be based on mutual agreement by the parties to do to not to do a specific thing, it must be made by parties who are competent to enter a contract, The promise or obligation of each party must be supported by consideration, Offer, Acceptance

Express contracts

Contracts with the terms or agreement specified in words (written or oral)

Counteroffer

a rejection of the original offer and the simultaneous making of a new offer

Acceptance

The assent to an offer that results in a contract

Quasi-contract

imposition of rights and obligations by law without a contract

Implied contract

Means something is "inferred" in the agreement

Stare Decisis

Standing by the decision

What is the difference between the burden of proof between civil law and criminal law

Criminal must be prove guilty beyond a reason of doubt while civil law must prove preponderance of the evidence

What is a change of venue and why might it be used

A change in the location a trial is held. - To ensure a fair and impartial trial

What is unjust enrichment

One party benefits unfairly to another's expense

A set of values, ideas and opinions of an individual group is called

Philosophy

"do unto others as you would have them done unto you"

The Golden Rule

What is the base minimum of ethical conduct

The law

Values related to human conduct as applied to the care of the deceased, family, funeral home operations and society are known as

Funeral service ethics

The theory of moral development was developed by psychologist

Lawrence Kohlberg

What is not a component of the definition of religion

Beliefs that are held in high esteem

A formal agreement provided after receiving complete and accurate information, including alternative choices and consequences, in an understandable form is known as

Informed consent

What date did the funeral rule go into full effect for funeral homes in the United States

April 30th, 1984

What criminal charges could you be charge with for embalming without permission, if no extenuating circumstances exist

Mutilation

Outdated price lists must be retained for a period of

1 year

A situation requiring immediate action or urgency is called

Exigent Circumstance

What are you permitted to do when dealing with a family that has selected to purchase a third-party casket

Inform the family that they will need to inspect the casket prior to visitation/funeral

Define Ethics

Set of standards of conduct that guide decisions and actions based on duties derived from core values.

The FTC consists of how many commissioners and are appointed by the president for how long

5 commissioners for 7 years

Big three of 1963

Vatican lifts ban on cremation, assassination of JFK and release of the "American Way of Death" by Jessica Mitford

The rules, ideas and beliefs shared by members of society of and for living and dying, which are learned directly or indirectly

Culture

Professionals that aid or assist us (funeral professionals) with out own day-to-day operations are known as

Allied professionals

What is stage 1 of moral development

obedience and punishment orientation

To hold certain information in trust and not disclose without proper authorization or authority is called

Confidentiality

Fidelity to moral principals is called

Integrity

Beliefs held in high esteem are known as

Values

A formal agreement provided after receiving complete and accurate information, including alternative choices and consequences, in an understandable form

Informed consent

Rules that govern society are known as

Law

When taking a first call from a bereaved family member, the most important thing to do is

Build rapport with the caller

The morally right action produces the greatest good for the largest number of people is

Utilitarianism

Most adults think in this stage of moral development

Conventional

The contract that summarizes the total cost of all goods, services and cash advance items that a family has selected

Statement of goods and services

The fine for every FTC violation

$43,280

Statements by the funeral rule which cannot be modified or edited and must appear in a clear, conspicuous manner are called

Mandatory disclosures

Gives power to the government and limits them through checks and balances

Constitutions

these are laws that are entranced by legislative bodies (state and federal laws)

Statutes

These can be interpreted differently and ruling over these can be reversed

Laws

Dealing with crimes, offenses against society and must proven gutty "beyond a reasonable doubt"

Criminal law

A mistake made by one party to a contract is called

Unilateral mistake

When a mutual mistake is made on a contract, the contract is

Defective

A person not party to a contract, but whom parties intend to benefit is known as

Third party beneficiary

A third party beneficiary to whom no legal duty is owed and performance is a gift

Donee beneficiary

A funeral director meets with Sally who just lost her husband. Sally is alone and clearly very distraught. The funeral director upsells Sally to a bronze cault, knowing that the $9,500.00 vault is clearly more than she can afford. Sally's family is upset and accusses the funeral director of preying upon their aunt because she was elderly and grieving the loss of her husband. If the family takes the funeral director to court, they may rule that she was "helpless in the hands of another." This is an example of:

Undue influence

A person who unintentionally benefits from performance of a contract

Incidental beneficiary

Ms. Sharpe and Mr. Kindoll have a contract for Ms. Sharpe to cover Mr. Kindoll's lab day, once a month. Ms. Sharpe and Mr. Kindoll speak to Mr. Vinnedge and together they agree that Mr. Vinnedge will cover Mr. Kindoll's lab. A new contract is formed between Mr. Kindoll and Mr. Vinnedge. This example illustrates:

A novation

A third party beneficiary owed a debt by a party to a contact is

Creditor beneficiary

Typically, a court will not allow spoken words to modify a written contract, this is called

The parole evidence rule

An award paid to the plaintiff in order to punish the defendants is called

Punitive damages

A means whereby one party in a contract conveys rights to another, who is not a party to the original contract

Assignment

To set aside or cancel a contract is called

Rescission

Mr. Kindoll and Ms. Sharpe have a contract that Mr. Kindoll will cover her Tuesday afternoon lab for the rest of the fall semester. Mr. Kindoll and Ms. Sharpe, with Mr. Vinnedge, agree that Mr. Vinnedge should take Mr. Kindoll's place in the contract. A new contract is formed for Mr. Vinnedge to cover Ms. Sharpe's lab. This is an example of:

Novation

Ms. Sharpe notices the CCMS lab needs to order more HaltGX. She would like to purchase 10 cases from Dodge Chemical Company. Dodge presents a contract to Ms. Sharpe to pay for the 10 cases of HaltGX for $650.00 which is to be paid on April 1, 2023. This is an example of:

A contract to sell

Moveable property with interests less than complete ownership in land or rights

Personal property

You are meeting with the family of Brandon Jones. They have brought in a suit and tie for him to wear for his funeral. They have also handed you his favorite Rolex watch to wear as well. The family expresses that they would like the watch back after the service. You, the funeral director, are known as:

The bailee

You are meeting with the family of Brandon Jones. They have brought in a suit and tie for him to wear for his funeral. They have also handed you his favorite Rolex watch to wear as well. The family expresses that would like the watch back after the service. This is an example of a/an:

Bailment

A document that acts as the reciept, contract and document of title to a shipment is called a/an:

Bill of Lading

The type of bailment imposed when a person controls lost property is called:

Constructive bailment

As a licensed funeral director, you are meeting with the family of John Schmitt. They express to you during your presentation of caskets available for slecetion that they would like to purchase a wood casket. You show them what you describe as a solid cherry casket with a velvet interior. When you describe the casket, including features and benefits, you are offering a/an:

Implied warranty

An assurance that the article sold will conform to a certain standard and will operate in a certain manner is called a/an:

Warranty

One who ships goods by common carrier is called:

Consignor

The transfer of possession, but not the title of another's personal property, under agreement is called:

Bailment

One who receives goods shipped by common carrier is known as

Consignee

Guarantees made by a seller that an article, good or service will conform to certain standard or will operate in a certain manner are called:

warranties

written, drawn in special form that can be transferred as substitute for money or as an instrument for credit

Negotiable instrument or commercial paper

Give me an example of Indorsement

Signing the back of a check

Party to who check is ordered too

Payee

Person ordered to paycheck (bank)

Drawee

Person who executes the draft

Drawer

Person who accepts to pay draft (bank)

Acceptor