Essentials of Business Law Chapter 13

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Essentials of Business Law Chapter 13
2014-06-01 18:06:50
Business Law

Chapter 13
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  1. Parol evidence rule
    The rule that any spoken or written words in conflict with what the written contract states cannot be introduced as evidence in a court of law.
  2. Statute of Frauds
    A law requiring certain contracts to be in writing to be enforceable.
  3. Executor
    A personal representative named in a will to handle matters involving the estate of a deceased person.
  4. Administrator
    A personal representative named by the court to perform as the executor would in instances in which the deceased person has not left a will.
  5. Guaranty
    A promise to pay the debts or settle the wrongdoings of another if he or she does not make settlement personally.
  6. Antenuptial or prenuptial agreement
    An exchange of promises made by a persons planning to marry.
  7. Auction sale
    A sale in which goods are sold to the highest bidder.
  8. Memorandum
    A written contract or agreement.