Business Law, Funeral Service Law, FTC, & Ethics Flashcards Form
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People also ask
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What is a contract that may be set aside by at least one of the parties?
An executory contract is defined as: a contract that may be set aside or avoided by one of the parties.
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What is a contract where one party either accepts or rejects the terms?
A contract where one party either accepts or rejects the terms of a contract written by another party is called a contract of adhesion.
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Which type of contract can be avoided by one party to the contract?
A contract that is voidable is otherwise a valid contract but the obligations can be avoided for certain reasons permitted by law (e.g., duress, lack of capacity). The party with the capacity to void the contract can choose to ratify the contract and perform the obligations thereunder.
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What is the primary requirement of the FTC Funeral Rule?
Under the FTC's Funeral Rule, consumers have the right to get a general price list from a funeral provider when they ask about funeral arrangements. They also have the right to choose the funeral goods and services they want (with some exceptions), and funeral providers must state this right on the general price list.
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Which type of contract allows one or both of the parties the ability to either withdraw from the contract or to enforce the contract?
A voidable contract is a contract where one party has the ability to void the contract if they desire. An example of a voidable contract would be a contract with a minor. A minor can enter a contract but later choose to get out of it. The other party cannot enforce it against a minor once they choose to void it.
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What type of contract exists when at least one party?
Unilateral contracts In a unilateral contract, there is an offer made by one party, where the other party is only paid after they perform the outlined actions within the contract. Essentially, unilateral contracts are one-sided, meaning only one of the parties involved has an obligation.
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What type of estate property is jewelry cash and cars?
Personal property All property that is not real property. It can be things you can touch, like a car, jewelry, or furniture.
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What is considered to be the cornerstone of the FTC Funeral Rule?
The Funeral Rule, enacted by the FTC in 1982 to protect consumers, unintentionally creates an environment where mistrust thrives. The cornerstone of the rule is that funeral homes must share their pricing when requested in person or over the phone, but do not have to share pricing on their website.
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