PACE TEST || WITH ERRORLESS ANSWERS.
Abatement correct answers the process of determining the distribution of bequests as directed by
the decedent in his/her will when there are not assets sufficient to satisfy the bequests
abstract of title correct answers A brief, chronological summary of the recorded documents
affecting title to a particular parcel of real property
acceptance correct answers one of three requisites to a valid contract under common law (the
other two being offer and consideration)
accord and satisfaction correct answers A term of contract law by which one party, having
complied with its obligation under a contract, accepts some type of compensation from the other
party (usually money of a lesser amount) in lieu of enforcing the contract and holding the other
party to its obligation. This discharges the contract.
acknowledgment correct answers A formal declaration before an authorized official by the
person who executed an instrument that it is his/her free act and deed
Ad hoc correct answers (adj.) for this specific purpose; improvised; (adv.) with respect to this
Adjudication correct answers giving or pronouncing a judgment or decree; also, the judgment
given
Adjusted basis correct answers The basis of property used when computing gains for income tax
purposes; the cost minus depreciation plus capital improvements
Ad litem correct answers person appointed to act, during the pendency of a matter, as guardian
for a minor child. Person may also bring action on behalf of the child
,administration of estate correct answers the management of a decedent's estate. An administrator
is appointed to collect all assets and debts of the decedent so that administrative expenses and
taxes are paid and the remaining assets are distributed to the heirs or beneficiaries
administrative agencies correct answers agencies created by the legislative branch of government
to administer laws pertaining to specific areas such as taxes, transportation and labor
administrative authority correct answers the rules, regulations and decision created by federal,
state, and local agencies; the executive orders of the President and governors
administrator correct answers person who administers the estate of person deceased; they are
appointed by the court and is the person who would then have power to deal with the debts and
assets of a person who died intestate
advance directive correct answers may also be referred to as a "living will"; document that
expresses a person's wishes about his/her medical care in the event they are unable to
communicate their desires or have a terminal illness
advance sheets correct answers Paperback pamphlets published by law book publishers weekly
or monthly that contain reporter cases, including correct volume number and page number. When
there are sufficient cases, they are replaced by a bound volume.
adversary proceeding correct answers One having opposing parties, such as a plaintiff and a
defendant. Individual lawsuit(s) brought within a bankruptcy proceeding
affidavit correct answers a statement that, before being signed, the person signing takes an oath
that the content are, to the best of his/her knowledge, true. it is also signed by a notary or some
other judicial officer who can administer oaths, to the effect that the person signing the document
was under oath when doing so
agency decisions correct answers Opinions issued by federal and state administrative law judges
as the result of disputes or controversies presented to the agency's administrative law judge or
, other person charged with hearing evidence and resolving issues involving matters under the
agency's jurisdiction.
agency regulations correct answers rules written by federal and state administrative agencies
agent correct answers a person who has received the power to act on behalf of another, binding
that other person as if he/she were making the decisions personally; the person being represented
is called the principal
aid and abet correct answers to actively, knowingly, or intentionally assist another person in the
commission or attempted commission of a crime
alien corporation correct answers a corporation that was formed in another country, but is doing
business in the United States or its territories
allegation correct answers something to be proved or disproved through the introduction of
evidence
alternate valuation date correct answers the administrator may choose an alternative date to the
date of death for the valuation of the decedent's estate for federal estate tax purposes
alternative dispute resolution (ADR) correct answers methods by which legal conflicts and
disputes are resolved privately, other than through litigation in the public courts, usually through
one of two forms: mediation or arbitration; the disadvantage to this is that is involves
compromise
Personal conflict of interest correct answers Type of conflict that includes being related either by
family, friendship or business with parties adverse to the interests of the firms client
Concurrent Conflict of Interest correct answers This type of conflict occurs when present or past
representation conflicts with representing a new or current client
Abatement correct answers the process of determining the distribution of bequests as directed by
the decedent in his/her will when there are not assets sufficient to satisfy the bequests
abstract of title correct answers A brief, chronological summary of the recorded documents
affecting title to a particular parcel of real property
acceptance correct answers one of three requisites to a valid contract under common law (the
other two being offer and consideration)
accord and satisfaction correct answers A term of contract law by which one party, having
complied with its obligation under a contract, accepts some type of compensation from the other
party (usually money of a lesser amount) in lieu of enforcing the contract and holding the other
party to its obligation. This discharges the contract.
acknowledgment correct answers A formal declaration before an authorized official by the
person who executed an instrument that it is his/her free act and deed
Ad hoc correct answers (adj.) for this specific purpose; improvised; (adv.) with respect to this
Adjudication correct answers giving or pronouncing a judgment or decree; also, the judgment
given
Adjusted basis correct answers The basis of property used when computing gains for income tax
purposes; the cost minus depreciation plus capital improvements
Ad litem correct answers person appointed to act, during the pendency of a matter, as guardian
for a minor child. Person may also bring action on behalf of the child
,administration of estate correct answers the management of a decedent's estate. An administrator
is appointed to collect all assets and debts of the decedent so that administrative expenses and
taxes are paid and the remaining assets are distributed to the heirs or beneficiaries
administrative agencies correct answers agencies created by the legislative branch of government
to administer laws pertaining to specific areas such as taxes, transportation and labor
administrative authority correct answers the rules, regulations and decision created by federal,
state, and local agencies; the executive orders of the President and governors
administrator correct answers person who administers the estate of person deceased; they are
appointed by the court and is the person who would then have power to deal with the debts and
assets of a person who died intestate
advance directive correct answers may also be referred to as a "living will"; document that
expresses a person's wishes about his/her medical care in the event they are unable to
communicate their desires or have a terminal illness
advance sheets correct answers Paperback pamphlets published by law book publishers weekly
or monthly that contain reporter cases, including correct volume number and page number. When
there are sufficient cases, they are replaced by a bound volume.
adversary proceeding correct answers One having opposing parties, such as a plaintiff and a
defendant. Individual lawsuit(s) brought within a bankruptcy proceeding
affidavit correct answers a statement that, before being signed, the person signing takes an oath
that the content are, to the best of his/her knowledge, true. it is also signed by a notary or some
other judicial officer who can administer oaths, to the effect that the person signing the document
was under oath when doing so
agency decisions correct answers Opinions issued by federal and state administrative law judges
as the result of disputes or controversies presented to the agency's administrative law judge or
, other person charged with hearing evidence and resolving issues involving matters under the
agency's jurisdiction.
agency regulations correct answers rules written by federal and state administrative agencies
agent correct answers a person who has received the power to act on behalf of another, binding
that other person as if he/she were making the decisions personally; the person being represented
is called the principal
aid and abet correct answers to actively, knowingly, or intentionally assist another person in the
commission or attempted commission of a crime
alien corporation correct answers a corporation that was formed in another country, but is doing
business in the United States or its territories
allegation correct answers something to be proved or disproved through the introduction of
evidence
alternate valuation date correct answers the administrator may choose an alternative date to the
date of death for the valuation of the decedent's estate for federal estate tax purposes
alternative dispute resolution (ADR) correct answers methods by which legal conflicts and
disputes are resolved privately, other than through litigation in the public courts, usually through
one of two forms: mediation or arbitration; the disadvantage to this is that is involves
compromise
Personal conflict of interest correct answers Type of conflict that includes being related either by
family, friendship or business with parties adverse to the interests of the firms client
Concurrent Conflict of Interest correct answers This type of conflict occurs when present or past
representation conflicts with representing a new or current client
