Term
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Definition
| An agreement to an offer resulting in a contract |
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Term
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Definition
| an agreement made & executed in satisfaction of the rights one has from a previous contract |
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Term
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Definition
| The party appointed by the principal to enter into a contract with a third party on behalf of the principal |
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Term
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Definition
| One that is incorporated in a foreign country |
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Term
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Definition
| Official document detailing a defendant's defense |
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Term
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Definition
| Laws which seek to promote competition among businesses |
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Term
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Definition
| Court hearing cases appealed from lower courts |
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Term
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Definition
| Charging a person with a crime and asking for that person's plea |
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Term
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Definition
| To take into police custody |
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Term
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Definition
| The party to whom the assignment is made |
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Term
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Definition
| A means whereby one party conveys rights to another person who is not a party to the original contract |
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Term
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Definition
| The party making the assignment |
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Term
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Definition
| The power to act for someone else |
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Term
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Definition
| The party who acquires possession but not the title of personal property in a bailment |
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Term
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Definition
| The transfer of possession but not the title of personal property by one party to another, under agreement. |
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Term
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Definition
| The party who gives up possession, but not title, of property in a bailment. |
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Term
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Definition
| The person in possession of an instrument |
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Term
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Definition
| A commercial paper payable to bearer; i.e. to the person having possession of such |
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Term
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Definition
| Recipient of the proceeds of a life insurance policy; one who inherits property as specified in a will. |
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Term
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Definition
| Recipient of the proceeds of a life insurance policy; one who inherits property as specified in a will. |
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Term
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Definition
| The contract existing between the consignor (shipper) and the carrier |
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Term
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Definition
| A document of conveyance that provides written evidence of one's title to tangible personal property. |
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Term
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Definition
| Having no other words other than the signature of the endorser |
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Term
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Definition
| A body of persons elected by the stockholders to define and establish corporate policy |
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Term
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Definition
| Administrative step taken after an arrested person is brought to a police station, which involves entry of the person's name, the crime for which the arrest was made, and other relevant facts on the police "blotter," and which may also include photographing, fingerprinting, and the like. |
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Term
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Definition
| A situation in which one of the parties to a contract fails or otherwise refuses to perform the obligation established in that contract. |
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Term
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Definition
| Those rules of conduct prescribed by a government and its agencies, regulating business transactions |
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Term
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Definition
| Declared value of outstanding stock |
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Term
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Definition
| A check drawn on the bank's funds and signed by a responsible bank official |
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Term
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Definition
| The acknowledgement by a bank of a receipt of money with an agreement of repayment |
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Term
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Definition
| A check for which the bank assures the drawer has sufficient funds to make payment |
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Term
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Definition
| An order by a depositor on the bank to pay a sum of money to a payee |
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Term
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Definition
| Legal proceedings concerned with the rights of public citizens |
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Term
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Definition
| A designation which applies to a corporation in which outstanding shares of stock and managerial control are held by a limited number of people (often members of the same family) |
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Term
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Definition
| 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 |
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Term
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Definition
| Customs that have become recognized by the courts as binding on the community |
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Term
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Definition
| An award paid to the injured party to cover the exact amount of their loss, but no more |
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Term
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Definition
| A written request initiating a civil suit |
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Term
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Definition
| That which the promisor demands and receives as the price for a promise |
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Term
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Definition
| One to whom goods are shipped by common carrier |
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Term
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Definition
| One who ships goods by common carrier |
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Term
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Definition
| An agreement between two or more competent persons which is enforceable by law |
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Term
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Definition
| An agreement wherein a seller agrees to transfer title of goods to a buyer for a consideration (price), at a future time |
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Term
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Definition
| The necessity that the parties desiring to enter into contracts meet all requirements |
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Term
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Definition
| An artificial being, invisible, intangible and existing only in contemplation of law; an entity that has a distinct existence separate and apart from the existence of its individual members |
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Term
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Definition
| An intended acceptance which changes or qualifies the offer, and is a rejection of the original offer |
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Term
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Definition
| The person to whom the promise of a contract owes an obligation or duty which will be discharged to the extend that the promisor performs the promise. |
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Term
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Definition
| An offense which is injurious to society as a whole |
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Term
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Definition
| Laws dealing with crimes and the punishment of wrongdoers |
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Term
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Definition
| The person against whom legal action is brought |
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Term
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Definition
| The repudiation of, or election to avoid, a voidable contract |
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Term
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Definition
| Termination of a contract by performance, agreement, impossibility, acceptance of breach, or operation of law |
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Term
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Definition
| Pretrial steps taken to learn the details of the case |
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Term
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Definition
| Operates in the state that granted the charter |
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Term
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Definition
| A third party beneficiary to whom no legal duty is owed and for whom performance is a gift |
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Term
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Definition
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Term
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Definition
| A written order signed by one person requiring the person to whom it is addressed to pay a particular sum of money to the bearer, either on demand or at a certain time |
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Term
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Definition
| The person, company, or financial institution ordered to pay a draft |
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Term
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Definition
| The person who executes any draft |
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Term
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Definition
| A means of removing one's free will; obtaining consent by means of threat to do harm to the person, his family, or his property |
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Term
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Definition
| A person hired to perform work and who is obligated both as to the work to be done and as to the manner in which it is to be done |
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Term
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Definition
| The party who hires employees to do certain work |
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Term
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Definition
| A person who becomes the holder of a negotiable instrument by endorsements which names him or her as the person to whom the instrument is negotiated. |
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Term
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Definition
| The signature or statement of purpose by the owner on the back of a negotiable instrument which indicates the future control of the instrument |
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Term
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Definition
| The person who writes his or her name on the back of an instrument |
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Term
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Definition
| Those contracts in which the parties have fulfilled the terms. Execution - the carrying out or completion of some task |
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Term
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Definition
| Those contracts in which the terms have not been completely executed or fulfilled |
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Term
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Definition
| Those goods which are, at the time of the contract, in existence and owned by the seller |
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Term
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Definition
| The authority of an agent, stated in the document or agreement creating the agency |
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Term
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Definition
| A contract in which the parties express their intentions, either orally or in writing, at the time of the agreement |
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Term
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Definition
| The actual and definite statement of a seller, either verbally or in writing, guaranteeing a standard of level of performance |
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Term
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Definition
| A criminal offense that is punishment by confinement in prison or by death |
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Term
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Definition
| A relationship of trust and confidence, such as that which exists between partners in a partnership |
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Term
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Definition
| Designation that applies when a corporation operates in any state other than where it is chartered |
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Term
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Definition
| Those contracts that must be in special form or produced in a certain way, such as under seal |
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Term
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Definition
| The intention or reckless false statement of a material fact upon which the injured party relied which induced the injured party to enter into a contract to his or her detriment |
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Term
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Definition
| Those goods which are not in existence at the time a contract is agreed to |
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Term
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Definition
| One who is authorized to execute the principal's business of a particular kind, or all the principal's business at a particular place, if not all of one kind. |
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Term
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Definition
| An individual actively and openly engaged in the business and held out to everyone as a partner |
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Term
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Definition
| Movable tangible personal property |
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Term
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Definition
| One in possession of commercial paper |
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Term
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Definition
| The goods specified by the buyer and seller |
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Term
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Definition
| An agent's authority to do things not specifically authorized in order to carry out express authority |
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Term
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Definition
| One in which terms of the contract are implied by acts or conduct of the parties |
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Term
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Definition
| Warranties imposed by law, arising automatically because the sale has been made. |
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Term
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Definition
| One who contracts to perform certain tasks for a set fee, but who is independent of the control of the contracting party as a means by which the contract is executed, except for specifications established in the contract |
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Term
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Definition
| A judicial order or decree forbidding the performance of a certain act |
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Term
| Intangible personal property |
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Definition
| Evidences of ownership of personal property such as stock of corporations, checks, and copyrights |
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Term
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Definition
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Term
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Definition
| Those rules of civil conduct commanding what is right and prohibiting what is wrong |
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Term
| Limited liability corporation |
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Definition
| Newest form of business ownership recognized in the US; combines features of both the corporation and partnership |
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Term
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Definition
| Partner whose liability for the firm's debts is limited to the amount of his/her investments |
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Term
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Definition
| Provision in a contract fixing the amount of damages to be paid in the event that one party breaches the contract |
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Term
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Definition
| The person who executes a promissory note |
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Term
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Definition
| A breach of contract by a professional; failure to perform a professional service with the ability and care generally exercised by others in the profession |
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Term
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Definition
| A person who deals in goods of the kind, or otherwise by occupation purports to have knowledge or skill peculiar to the practices or goods involved in the transaction |
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Term
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Definition
| A person under full legal age; in mot states the standard is under age 18 |
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Term
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Definition
| A criminal offense which is neither treason or felony |
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Term
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Definition
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Term
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Definition
| Items, required or proper and useful, for sustaining a human being at an appropriate living standard (examples: food, clothing and shelter) |
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Term
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Definition
| Failure 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. |
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Term
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Definition
| 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 |
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Term
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Definition
| The act of transferring ownership of a negotiable instrument to another party |
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Term
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Definition
| A token award to symbolize vindication of wrong done to the plaintiff; generally, the award is $1.00 |
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Term
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Definition
| Person pretends to be a partner or permits others to represent him or her as a partner |
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Term
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Definition
| The change of one of the parties to a contract at the mutual agreement of the original parties |
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Term
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Definition
| An expression of willingness to enter a contractual agreement |
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Term
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Definition
| The person to whom an offer is made |
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Term
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Definition
| The party who initiates or makes an offer |
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Term
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Definition
| A commercial paper made payable "to the order of" some named party; the word "order" or its equivalent may be used |
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Term
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Definition
| Laws enacted by local municipalities |
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Term
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Definition
| The voluntary 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 |
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Term
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Definition
| Stock with an assigned face value |
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Term
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Definition
| The party to whom any negotiable instrument is made payable |
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Term
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Definition
| All property which is not real property |
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Term
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Definition
| A written request initiating a civil suit |
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Term
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Definition
| The individual who initiates a civil suit |
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Term
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Definition
| Stock giving special advantage as to payment of dividends, upon liquidation or both |
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Term
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Definition
| That consideration stipulated by contract, generally expressed in money or money's worth |
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Term
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Definition
| A party who appoints a second party to serve as an agent |
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Term
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Definition
| A corporation formed by individuals to form some non-governmental function |
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Term
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Definition
| A 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. |
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Term
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Definition
| An equitable doctrine that prevents the promisor from revoking the promise when the promisee justifiably acts in reliance upon the promise to his detriment |
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Term
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Definition
| A negotiable instrument containing a promise to pay |
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Term
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Definition
| One who takes initial steps to form corporation |
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Term
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Definition
| Anything that may be owned |
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Term
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Definition
| A corporation formed to carry out government functions |
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Term
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Definition
| An award paid to the plaintiff in order to punish the defendant, not to compensate the plaintiff |
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Term
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Definition
| An endorsement which limits the liability of the endorser. |
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Term
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Definition
| Confirming an act that was executed without authority or an act which was voidable |
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Term
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Definition
| Confirming an act that was executed without authority or an act which was voidable |
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Term
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Definition
| Land and those objects permanently attached to land |
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Term
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Definition
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Term
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Definition
| Canceling, annulling, avoiding |
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Term
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Definition
| An endorsement which prevents the use of the instrument for anything except the stated use |
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Term
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Definition
| The annulment or cancellation of the instrument, act, or promise by one doing or making it |
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Term
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Definition
| Transfer of title to goods from the seller to the buyer for a consideration called the price |
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Term
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Definition
| Partner active in a business unknown to the public |
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Term
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Definition
| The contracting of services rather than goods |
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Term
| Shareholders (stockholders) |
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Definition
| Those having title to one or more shares of stock in a corporation; combined, the represent ownership of the corporation |
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Term
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Definition
| Legislation intended to promote competition among businesses by prohibiting restraint of trade |
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Term
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Definition
| An individual who takes no active part in the management of a business but has capital invested in the business |
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Term
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Definition
| Any contract other than a formal contract, whether written, oral or implied |
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Term
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Definition
| A business owned by one person |
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Term
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Definition
| One authorized by the principal to execute specific acts |
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Term
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Definition
| An endorsement which designates the particular person to whom payment is to be made |
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Term
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Definition
| A contract remedy by which the court requires the breaching party to perform the contract |
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Term
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Definition
| The principle that the decision of a court should serve as a guide or precedent and control the decision of a similar case in the future |
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Term
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Definition
| A statute originally enacted by the English Parliament and now enacted in some form in all states, listing certain types of contracts which could be enforced only if in written form |
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Term
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Definition
| A law that restricts the period of time within which an action may be brought to court |
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Term
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Definition
| Laws which are enacted by legislative bodies |
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Term
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Definition
| A creation of the tax codes; shareholders elected to be taxed as a partnership (no double taxation) without losing corporation status. |
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Term
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Definition
| A 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. |
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Term
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Definition
| Person not party to a contract, but whom parties intended to benefit. |
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Term
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Definition
| A private or civil wrong, either intentional or caused by negligence, for which there may be action for damages. |
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Term
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Definition
| Stock reacquired by a corporation |
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Term
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Definition
| Courts that conduct the original trial and render their decision |
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Term
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Definition
| Improper influence that is asserted by one dominant person over another, without the threat or harm |
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Term
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Definition
| An agreement which is not in the form required by law |
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Term
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Definition
| Recognized as the most important statute in business law; includes provisions which regulate certain sales of goods |
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Term
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Definition
| A one-sided contract/agreement formed when an act is done in consideration for a promise |
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Term
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Definition
| Exceeding the maximum rate of interest which may be charged on loans |
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Term
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Definition
| A contract which will be enforced by the court |
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Term
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Definition
| An agreement of no legal effect |
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Term
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Definition
| A contract that would be an enforceable agreement, but due to circumstances, may be set aside by one of the parties |
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Term
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Definition
| Guarantees made by a seller that an article, good or service will conform to a certain standard or will operate in a certain manner |
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Term
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Definition
| An employee with the same status who is working with another employee |
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Term
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Definition
| Agency which rises when a person by words or conduct leads another to believe a third party is an agent |
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Term
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Definition
| Approval of an unauthorized act |
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Term
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Definition
| A written instrument indicating the appointment of an agent |
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Term
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Definition
| Contract under which one party is authorized to contract for another |
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Term
1. Appointment
2. Ratification
3. Estoppel
4. Necessity |
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Definition
| Name the 4 things which may create an agency |
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Term
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Definition
| Authority which an agent is believed to have because of the principal's behavior |
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Term
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Definition
| Authority posed by an agent by custom |
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Term
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Definition
| Agent's authority to do things in order to carry out express warranty |
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Term
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Definition
| Authority of agent stated in agreement creating an agent |
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Term
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Definition
| General agent appointed by written authorization |
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Term
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Definition
| Agent with job of bringing two contracting parties together |
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Term
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Definition
| Factor who sells on credit & guarantees to the principal that the price will be paid |
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Term
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Definition
| Bailee seeking to sell property on commission |
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Term
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Definition
| Agent authorized to carry out particular kinds of business or all business at a place |
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Term
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Definition
| Agent authorized to carry out particular kinds of business or all business at a place |
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Term
1. Factors
2. Factors del credere
3. Brokers
4. Attorneys in fact |
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Definition
| The 4 types of special agents whose power exceeds ordinary special agents |
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Term
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Definition
| Agent authorized a specific act or acts |
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Term
| Agency coupled with interest |
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Definition
| Agency in which the agent has financial stake in performance of agency because of having given consideration to the principal |
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Term
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Definition
| Attempt by employees to stop third party dealings with the employer |
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Term
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Definition
| Work setting in which all employees must be union members |
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Term
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Definition
| Temporary action of workers to withhold their services from the employer |
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Term
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Definition
| Process by which employer & union negotiate and agree on terms of employment |
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Term
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Definition
| An agreement between a union and employer that the employer will not use nonunion materials |
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Term
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Definition
| An agreement between a union and employer that the employer will not use nonunion materials |
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Term
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Definition
| Alteration of terems or condition of employment by harassment |
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Term
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Definition
| Any group of people which is protected by anti discrimination laws |
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Term
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Definition
| Intentional discrimination against a particular individual |
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Term
1. Old age & survivors' insurance
2. Assistance to persons in financial need
3. Unemployment compensation
4. Disability & medicare benefits |
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Definition
| Name the 4 provisions that the Federal Social Security Act provides |
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Term
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Definition
| Employer's right to use employee's invention without payment of royalty |
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Term
1. Job performance
2. Business confidentiality
3. Granting of right to use invention |
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Definition
| The three duties an employee owes to the employer |
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Term
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Definition
| Theory imposing liability on employers for the torts of employees |
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Term
1. Original agreement
2. Subsequent agreement
3. Revocation
4. Renunciation by the agent |
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Definition
| The 4 ways that an agency may be terminated |
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Term
1. Duty to exercise care
2. Duty to provide a reasonably safe place to work
3. Duty to provide safe tools & appliances
4. Duty to provide competent employees for the task
5. Duty to instruct employees as to the dangerous nature of employment |
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Definition
| 5 duties & liabilities of the employer |
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Term
| Durable power of attorney |
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Definition
| Written appointment of agency designed to be effective even though the principle is incapacitated |
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Term
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Definition
| Termination of a corporation's operation except activities needed for liquidation |
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Term
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Definition
| Employment terminable by employer or employee for any reason |
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Term
1. Subsequent illegality
2. Death or incapacity
3. Destruction
4. Bankruptcy
5. Dissolution
6. War |
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Definition
| 6 ways an agency can be terminated by operation of law |
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Term
1. Loyalty and faith
2. Obedience
3. Reasonable skill & diligence
4. Accounting
5. Information |
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Definition
| 5 things the agent owes to the principal |
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Term
1. Compensation
2. Reimbursement
3. Indemnification
4. Abidance by terms of contract |
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Definition
| What 4 things does a principle owe to the agent |
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Term
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Definition
| One who contracts to do jobs and is controlled only by contract as how the job is to be performed |
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Term
|
Definition
| Unauthorized change or completion of negotiable instrument to modify obligation of a party |
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Term
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Definition
| Defense against any holder |
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Term
|
Definition
| Defense that cannot be used against a holder in due course |
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Term
| Holder through a holder in due course |
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Definition
| Holder subsequent to holder in due course |
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Term
|
Definition
| A person in relationship of trust and confidence |
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Term
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Definition
| Not all payments on instrument are fully made and not all are made by the due date |
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Term
|
Definition
| Holder for value and in good faith with no knowledge of dishonor, defenses, or claims, or that the paper is overdue |
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Term
|
Definition
| Certification of notice of dishonor by an authorized official |
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Term
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Definition
| Presentment made, but acceptance or payment is not made |
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Term
|
Definition
| Demand for acceptance or payment |
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Term
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Definition
| Liability for a negotiable instrument that has been presented, dishonored, and notice of dishonor has been given |
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Term
|
Definition
| Liability without conditions for commercial paper that is due |
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Term
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Definition
| Unilateral act of holder giving up rights in the instrument or against a party to it |
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Term
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Definition
| Act that indicates intention to destroy the validity of an instrument |
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Term
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Definition
| Bank receiving checks for deposit |
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Term
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Definition
| Endorsement that restricts the use of the instrument |
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Term
|
Definition
| Instrument that limits the liability of endorser |
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Term
|
Definition
| Endorsement that designates a particular person to whom payment is to be made |
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Term
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Definition
| A person, properly licensed, who disinfects, preserves, or restores a dead human body |
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Term
|
Definition
| A dead human body, deprived of life, but not yet entirely disintegrated. |
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Term
|
Definition
| The physical possession of the dead human body |
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Term
|
Definition
| A person licensed, engaged in, or conducting, preparing (other than embalming) for burial, or disposition of a dead human body. |
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Term
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Definition
| A person engaged in learning the practice of funeral directing and/or embalming under instruction, direction, or personal supervision of a duly licensed funeral director/embalmer |
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Definition
| A dead human body intended solely for scientific study & dissection |
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Definition
| Externally imposed rule which is concerned with conduct & action in the interest of society |
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Definition
| A state of complete & irreversible cessation of metabolic processes leading ultimately to dissolution of the organs |
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Term
- Obtain cremation authorization form
- Disclose critical elements of cremation
- Cremate the correct person
- Ensure identity of the person throughout the entire process
- Ensure disposition is agreed upon |
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Definition
| Ways to reduce liability in cremation |
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Term
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Definition
| A stage of moral development in which individuals consider universal moral principles to supersede the authority of the group |
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Term
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Definition
| The character of an individual viewed as a member of society; behavior in terms of duties, obligations & functions of a citizen |
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Term
- economic
- physical
- emotional |
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Definition
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Term
- economic
- physical
- emotional |
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Definition
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Term
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Definition
| The word "ethic" is derived from this Greek word |
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Term
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Definition
| The word "moral" is derived from this Latin word |
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Term
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Definition
| A culturally entrenched pattern of behavior made of sacred beliefs, emotional feelings, and overt conduct implementing the beliefs |
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Term
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Definition
| Refers to the customs, value, and standards of practice of a group, age, or theory which are intended to be timeless |
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Definition
| Philosophy which focuses on a belief in a god or gods |
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Definition
| Cultural heritage or identity of groups, based on factors such as language & country of origin |
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Term
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Definition
| To hold certain information in trust and not disclose without proper authorization |
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Term
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Definition
| Enactments by an administrative body governing the jurisdiction of the agency |
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Definition
| Removal of a human corpse previously buried in the earth |
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Term
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Definition
| An appointed governmental body charged with implementing particular legislation |
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Term
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Definition
| Law created by legislative bodies in contrast to law generated by judicial opinions (case law) & administrative bodies |
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Term
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Definition
| System of jurisprudence based on judicial precedents rather than statutory laws |
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Term
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Definition
| Rule of action prescribed by an authority able to enforce its will |
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Term
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Definition
| Branch of law that relates to matters oncerned with the disposal of the dead |
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Term
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Definition
| Funeral director becomes the legal protector of a dead human body from the time of removal until final disposition |
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Term
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Definition
| Court having jurisdiction over estates |
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Term
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Definition
| Claim supported by a pledge of assets belonging to the debtor |
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Term
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Definition
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Term
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Definition
| One's relatives, blood only |
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Term
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Definition
| Listing and valuation of a decedent's assets by a representative of the state |
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Term
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Definition
| Death of a product of consumption prior to the complete expulsion from its mother |
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Term
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Definition
| Relationship to the deceased of his relatives |
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Term
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Definition
| Action in violation of constitution, statute, or ordinance |
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Term
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Definition
| Withdrawal of legacy under a will by an act equivalent to revocation |
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Term
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Definition
| Proportional reduction of a legacy under a will when assets out of which aren't payable in full |
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Term
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Definition
| Instrument executed with formality by a person making disposition of property after death |
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Term
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Definition
| Model law to achieve uniformity to probate proceedings |
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Term
| Soldier's and sailor's will |
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Definition
| Nuncupative informal will where a soldier or sailor may dispose of personal property only |
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Term
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Definition
| Fictitious contract by a court for a person who is unable to contract for himself |
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Term
| Personal service contract |
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Definition
| Contract involving personal skill or knowledge that it can only be performed by the person with whom the contract was made |
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Term
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Definition
| Crime involving willful wrongdoing, usually a felony |
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Term
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Definition
| Mental suffering from grief, disappointment, indignation, wounded pride, etc |
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Term
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Definition
| One who owns or controls the real estate where a death occurred |
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Term
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Definition
| A law passed by a municipal governing body pertaining to matters not already covered by Federal or State law |
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Term
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Definition
| Organs, tissues, eyes, bones, arteries, blood and bodily fluids, as well as other portions of the human body used for transportation |
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Term
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Definition
| A carrier required by law to convey passengers without refusal if the approved fare/charge is paid |
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Term
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Definition
| Failure to exercise ordinary care; omission to do something which a reasonable person would do; lack of due care |
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