Nala Exam Complete Questions And Answers With Verified Tests
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Nala
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Nala
Nala Exam Complete Questions And Answers With Verified Tests
Only spouses can own assets in this form of co-ownership. The death of one of the spouses will result in the surviving spouse owning the property as a whole. ANS Tenancy by the entirety
Co-ownership in which two or more persons own i...
Nala Exam Complete Questions And Answers With
Verified Tests
Only spouses can own assets in this form of co-ownership. The death of one of the spouses will result in the
surviving spouse owning the property as a whole. ANS Tenancy by the entirety
Co-ownership in which two or more persons own interests in property with right of survivorship. If one owner dies
title passes to his heirs or beneficiaries through probate proceedings, not to the surviving co-tenant ANS Joint
tenancy
Co-ownership in which two or more persons own interests in property. Each tenant has rights in the whole property
with right of survivorship. This tenancy requires probate to transfer property to the co-tenants, heirs or beneficiaries.
If one tenant sells his interest to another, that person then becomes a tenant in common with the other owner ANS
Tenancy in common
People make this contract when they exchange a promise for a promise, or an act for an act. An executory contract is
one in which one or more parties remain obliged to perform.
An executed contract is one in which all parties have performed their mutual obligations under the contract. A
contract is defined as a promise or set of promises for the breach of which the law gives a remedy. ANS Bilateral
contract
Interrogatories must be answered within 30 days of service. This rule is considered statutory law. ANS
Interrogatory
The parties to a deed for personal property are the grantor (the person selling) and the grantee (the person who is
buying). ANS Grantor and Grantee
A real estate deed by which the seller only warrants or guarantees that he has done nothing to encumber the property
and title against defects in clear title that may have arisen during the period of its tenure or ownership of the
property.
A special warranty deed includes warranties such as a covenant of the right to convey and a covenant of quiet
enjoyment, but limits those warranties to parties who claim an interest in the real property under the grantor
A Quit claim deed is a deed that passes title from owner only, and makes no warranties about the property having
clear and marketable title. It is often used to clear a title defect ANS General warranty deed
,A real estate deed by which the seller only warrants or guarantees that he has done nothing to encumber the property.
Title is clear and no defects have arisen during the period of its tenure or ownership of the property.
A special warranty deed includes warranties such as a covenant of the right to convey and a covenant of quiet
enjoyment, but limits those warranties to parties who claim an interest in the real property under the grantor ANS
Special warranty deed
At any time after a suit is filed usually during discovery either side asks the court to enter a verdict because evidence
outside of the pleadings establishes that there is no material issue of fact such that the moving party is entitled to
judgment. A summary judgment motion can be made until 30 days after the close of discovery. Governed by Rule 56
ANS Summary judgment
this motion is presented by the defense after the trial has started and asks the court to enter a verdict in the
defendant's favor because the plaintiff has failed to prove all material allegations against him, this would end the
trial ANS Motion for directed verdict
Rules that govern procedural matters such as the use of privileged communications in federal civil trials. An excited
utterance is an exception to the hearsay rule. The statement must be spontaneously made by the person while still
under the stress of excitement from a startling event. There are 11 articles in the Federal Rules of Evidence ANS
Federal rules of evidence
File this with the court against the plaintiff if the defendant asserts his own harm as part of the same incident that
gave rise to the lawsuit. The time limit for the plaintiff to respond is 21 days after service ANS Counterclaim
The defendant's written response to the plaintiff's complaint. When computing the deadline for response, exclude the
day of service.
If the plaintiff denies the allegations or wants to amend he must respond within 21 days from date of service without
the court's permission. Rule 4(a)(1)(A) specifies that a party has 20 days to file an answer after they are served with
a complaint. ANS Answer
An Interlocutory appeal is the method used to obtain appellate review of a discovery order prior to the time of trial.
It must be filed ten days after entry of the interlocutory order. ANS Interlocutory appeal
After parties execute a contract this rule prohibits the parties from altering the meaning of the written document in
any way. It is a substantive common law rule in contract cases. ANS Parole evidence rule
, The rule by which a third party has no right to sue on a contract to which he or she is not a party, and provides that a
contract cannot confer rights or impose obligations arising under it on any person or agent except the parties to it.
ANS Privity of contract
In contract law, an act or event which must occur, before performance arises upon the other party to perform. ANS
Condition precedent
An executory promise by one party to give a substituted performance and by the other party to accept the substituted
performance as discharge of an existing duty ANS Accord and satisfaction
The beneficiary of a life insurance policy owned by another, or one who receives a gift. ANS Donee beneficiary
A set of laws that provide legal rules and regulations governing commercial or business dealings and transactions. It
regulates the transfer or sale of personal property, but does not address dealings in real property. ANS Uniform
Commercial Code
A description applied to items of which each unit is identical to every other unit, such as in the case of coal, grain,
oil, or flour. Goods that can readily be estimated and replaced according to weight, measure, and amount. ANS
Fungible goods
A statute adopted in most states which requires certain types of contracts to be in writing. The statute of frauds is
concerned with the enforcement of a contractual agreement, not with the validity of its terms.The sale of land must
be in writing.
Contracts involving, wills, or leases must be in writing. A contract for the sale of goods valued at $500 or more must
be in writing. Contracts that cannot be performed in less than a year must be in writing. A promise by one party to
pay the debt of another party is a guaranty, in most states a guaranty must be in writing ANS Statute of frauds
In the law of contracts this term describes a declaration by the promising party to a contract that he does not intend
to live up to his obligations under the contract. ANS Anticipatory repudiation
An injured party can recover damages if those damages were the result of a promise made by a promisor and the
promise was significant enough to move the promisee to act on it. ANS Promissory estoppel damages
Formed by specific words, either oral or written, sign, or conduct. Each contracting party fully knows the terms and
promises. Not formed by manifestations of assent, but by oral or written language.
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