NALA Certified Paralegal Exam Terms and Concepts || All
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The process in which a decedent's personal representative settles the affairs of the decedent's
estate (collects assets, pays debts and taxes, and distributes the remaining assets to heirs); the
process is usually overseen by a probate court. correct answers Estate administration
A trust created by the grantor (settlor) and effective during the grantor's lifetime—that is, a
trust not established by a will. correct answers inter vivos trust
Any word or action intended to make another person apprehensive or fearful of immediate
physical harm, a reasonably believable threat. correct answers Assault
The intentional and offensive touching of another without lawful justification. correct
answers Battery
A theory in tort law under which a complaining party's own negligence contributed to his or
her injuries. This type of negligence is an absolute bar to recover in some jurisdictions.
correct answers Contributory Negligence
A theory in tort law under which the liability for injuries resulting from negligent acts is
shared by all persons who were guilty of negligence (including the injured party) on the basis
of each person's proportionate carelessness. correct answers Comparative Negligence
An action or failure to act in violation of a statutory requirement. correct answers Negligence
per se
Liability regardless of fault. In tort law, strict liability may be imposed on a merchant who
introduces into commerce a good that is so defective as to be unreasonably dangerous. correct
answers Strict Liability
Agreement, Consideration, Contractual Capacity, Legality correct answers Contract Validity
Requirements
A meeting of the minds, and a requirement for a valid contract. It involves two distinct
events: an offer to form a contract and the acceptance of that offer by the offeree. correct
answers Agreement
A promise or commitment to do or refrain from doing some specified thing in the future.
correct answers Offer
The party making the offer. correct answers Offeror
The party to whom the offer is made. correct answers Offeree
In contract law, the offeree's indication to the offeror that the offeree agrees to be bound by
the terms of the offeror's offer, or proposal to form a contract. correct answers Acceptance
,A common law rule that requires that the terms of the offeree's acceptance adhere exactly to
the terms of the offeror's offer for a valid contract to be formed. correct answers Mirror
Image Rule
A rule providing that an acceptance of an offer takes effect at the time it is communicated via
the mode expressly or impliedly authorized by the offeror, rather than at the time it is actually
received by the offeror. If acceptance is to be by mail, for example, it becomes effective the
moment it is placed in the mailbox. correct answers Mailbox Rule
Something of value, such as money or the performance of an action not otherwise required,
that motivates the formation of a contract. Each party must give this for the contract to be
binding. correct answers Consideration
A doctrine under which a promise is binding if the promise is clear and definite, the promisee
justifiably relies on the promise, the reliance is reasonable and substantial, and justice will be
better served by enforcement of the promise. correct answers Promissory Estoppel
The threshold mental capacity required by law for a party who enters into a contract to be
bound by that contract. correct answers Contractual Capacity
A state statute that requires certain types of contracts to be in writing to be enforceable.
correct answers Statute of Frauds
Statutes adopted by all states, in part or in whole, that contain uniform laws governing
business transactions as defined in the code. correct answers Uniform Commercial Code
(UCC)
An action to undo, or terminate, a contract-to return the contracting parties to the positions
they occupied prior to the transaction. correct answers Rescission
An equitable remedy under which a person is restored to her or her original position prior to
loss or injury, or placed in the position that he or she would have been in had the breach not
occurred. correct answers Restitution
An equitable remedy granted by a court to correct , or "reform," a written contract so that it
reflects the true intentions of the parties. correct answers Reformation
Patent, Copyright, Trademark, Trade Secret correct answers Forms of Intellectual Property
A government grant that gives an inventor the exclusive right or privilege to make, use, or
sell an invention for a limited time period. correct answers Patent
The exclusive right of an author (or other creator) to publish, print, or sell an intellectual
production for a statutory period of time. correct answers Copyright
A distinctive mark, motto, device, or emblem that a manufacturer stamps, prints, or otherwise
affixes to the goods it produces so that they can be identified or the market and their origins
made known. Once a trademark is established (under the common l,aw or through
registration), the owner is entitled to its exclusive use. correct answers Trademark
,A term that is used to indicate part or all of a business's name and that is directly related to
the business's reputation and goodwill. These are protected under the common law (and under
trademark law, if the business's name is the same as its trademark). correct answers Trade
Name
Information or processes that give a business an advantage over competitors who do not
know the information or processes. correct answers Trade Secret
Immovable property consisting of land and the builds and plant life thereon. Also known as
real estate. correct answers Real Property
Any property that is not real property. Generally, any property that is movable or intangible is
classified as this. correct answers Personal Property
Ownership rights entitling the holder to use, possess, or dispose of the property however he
or she chooses during his or her lifetime. correct answers Fee Simple Absolute
The power of a government to take land for public use from private citizens for just
compensation. correct answers Eminent Domain
The right of a person to make limited use of another person's real property without taking
anything from the property. correct answers Easement
A form of co-ownership of property in which each party owns an undivided interest that
passes to his or her heirs after death. correct answers Tenancy In Common
The joint ownership of property by two or more co-owners in which each co-owner owns an
undivided portion of the property. On the death of one of the joint tenants, his or her interest
automatically passes to the surviving joint tenant or tenants. correct answers Joint Tenancy
Buyer's purchase offer, seller's response, purchase and sale agreement, title examination and
insurance, and closing. correct answers Steps Involved in the Sale of Real Estate
A written instrument giving a creditor an interest in the debtor's property as security for a
debt. correct answers Mortgage
A document by which title to property is transferred from one party to another. correct
answers Deed
A contractual agreement under which a property owner (the lessor) agrees to rent their
property to another (the lessee) for a specific time period. correct answers Lease
A prediction concerning potential loss based on known and unknown factors. correct answers
Risk
Planning that is undertaken to reduce the risk of loss from known and unknown events. In the
context of insurance, this involves transferring certain risks from the insured to the insurance
company. correct answers Risk Management
, A person appointed by the court to represent the interests of a child or a mentally incompetent
person before the court. correct answers Guardian ad litem
A division of property between spouses on the termination of a marriage. correct answers
Property Settlement
All property acquired during the course of a marriage, apart from inheritances and gifts made
to one or the other of the spouses. correct answers Marital Property
Property that a spouse owned before the marriage, plus inheritances and gifts acquired by the
spouse during the marriage. correct answers Separate Property
In certain states, all property acquired during a marriage, except for inheritances or gifts
received during the marriage by either marital partner. Each partner has a one-half ownership
interest in this type of property. correct answers Community Property
A contract formed between two persons who are contemplating marriage to provide for the
disposition of property in the event of a divorce or death of one of the spouses after they have
married. correct answers Prenuptial Agreement
Wills and Trusts correct answers Estate-planning process
Final declaration of how a person wishes to have his or her property disposed of after death.
correct answers Will
One who makes a valid will. correct answers Testator
The condition of having died with a valid will. correct answers Testate
The state of having died without a valid will. correct answers Intestate
State statutes that specify how property will be distributed when a person dies intestate.
correct answers Intestacy Laws
A person appointed by a testator to serve as a personal representative on the testator's death.
correct answers Executor
A person appointed by a court to serve as a personal representative for a person who died
intestate, who made a will but failed to name an executor, or whose executor cannot serve.
correct answers Administrator
To prove and validate a will; the process of proving and validating a will and settling matters
pertaining to the administration of a decedent's estate, guardianship of a decedent's children,
and similar matters. correct answers Probate
Testamentary capacity, must be in writing, must be signed by testator, must be witnessed, and
must be published (in some states). correct answers Requirements for a Valid Will
An arrangement in which property is transferred by one person (the grantor, or settlor) to
another (the trustee) for the benefit of a third party (the beneficiary). correct answers Trust
Verified 100%.
The process in which a decedent's personal representative settles the affairs of the decedent's
estate (collects assets, pays debts and taxes, and distributes the remaining assets to heirs); the
process is usually overseen by a probate court. correct answers Estate administration
A trust created by the grantor (settlor) and effective during the grantor's lifetime—that is, a
trust not established by a will. correct answers inter vivos trust
Any word or action intended to make another person apprehensive or fearful of immediate
physical harm, a reasonably believable threat. correct answers Assault
The intentional and offensive touching of another without lawful justification. correct
answers Battery
A theory in tort law under which a complaining party's own negligence contributed to his or
her injuries. This type of negligence is an absolute bar to recover in some jurisdictions.
correct answers Contributory Negligence
A theory in tort law under which the liability for injuries resulting from negligent acts is
shared by all persons who were guilty of negligence (including the injured party) on the basis
of each person's proportionate carelessness. correct answers Comparative Negligence
An action or failure to act in violation of a statutory requirement. correct answers Negligence
per se
Liability regardless of fault. In tort law, strict liability may be imposed on a merchant who
introduces into commerce a good that is so defective as to be unreasonably dangerous. correct
answers Strict Liability
Agreement, Consideration, Contractual Capacity, Legality correct answers Contract Validity
Requirements
A meeting of the minds, and a requirement for a valid contract. It involves two distinct
events: an offer to form a contract and the acceptance of that offer by the offeree. correct
answers Agreement
A promise or commitment to do or refrain from doing some specified thing in the future.
correct answers Offer
The party making the offer. correct answers Offeror
The party to whom the offer is made. correct answers Offeree
In contract law, the offeree's indication to the offeror that the offeree agrees to be bound by
the terms of the offeror's offer, or proposal to form a contract. correct answers Acceptance
,A common law rule that requires that the terms of the offeree's acceptance adhere exactly to
the terms of the offeror's offer for a valid contract to be formed. correct answers Mirror
Image Rule
A rule providing that an acceptance of an offer takes effect at the time it is communicated via
the mode expressly or impliedly authorized by the offeror, rather than at the time it is actually
received by the offeror. If acceptance is to be by mail, for example, it becomes effective the
moment it is placed in the mailbox. correct answers Mailbox Rule
Something of value, such as money or the performance of an action not otherwise required,
that motivates the formation of a contract. Each party must give this for the contract to be
binding. correct answers Consideration
A doctrine under which a promise is binding if the promise is clear and definite, the promisee
justifiably relies on the promise, the reliance is reasonable and substantial, and justice will be
better served by enforcement of the promise. correct answers Promissory Estoppel
The threshold mental capacity required by law for a party who enters into a contract to be
bound by that contract. correct answers Contractual Capacity
A state statute that requires certain types of contracts to be in writing to be enforceable.
correct answers Statute of Frauds
Statutes adopted by all states, in part or in whole, that contain uniform laws governing
business transactions as defined in the code. correct answers Uniform Commercial Code
(UCC)
An action to undo, or terminate, a contract-to return the contracting parties to the positions
they occupied prior to the transaction. correct answers Rescission
An equitable remedy under which a person is restored to her or her original position prior to
loss or injury, or placed in the position that he or she would have been in had the breach not
occurred. correct answers Restitution
An equitable remedy granted by a court to correct , or "reform," a written contract so that it
reflects the true intentions of the parties. correct answers Reformation
Patent, Copyright, Trademark, Trade Secret correct answers Forms of Intellectual Property
A government grant that gives an inventor the exclusive right or privilege to make, use, or
sell an invention for a limited time period. correct answers Patent
The exclusive right of an author (or other creator) to publish, print, or sell an intellectual
production for a statutory period of time. correct answers Copyright
A distinctive mark, motto, device, or emblem that a manufacturer stamps, prints, or otherwise
affixes to the goods it produces so that they can be identified or the market and their origins
made known. Once a trademark is established (under the common l,aw or through
registration), the owner is entitled to its exclusive use. correct answers Trademark
,A term that is used to indicate part or all of a business's name and that is directly related to
the business's reputation and goodwill. These are protected under the common law (and under
trademark law, if the business's name is the same as its trademark). correct answers Trade
Name
Information or processes that give a business an advantage over competitors who do not
know the information or processes. correct answers Trade Secret
Immovable property consisting of land and the builds and plant life thereon. Also known as
real estate. correct answers Real Property
Any property that is not real property. Generally, any property that is movable or intangible is
classified as this. correct answers Personal Property
Ownership rights entitling the holder to use, possess, or dispose of the property however he
or she chooses during his or her lifetime. correct answers Fee Simple Absolute
The power of a government to take land for public use from private citizens for just
compensation. correct answers Eminent Domain
The right of a person to make limited use of another person's real property without taking
anything from the property. correct answers Easement
A form of co-ownership of property in which each party owns an undivided interest that
passes to his or her heirs after death. correct answers Tenancy In Common
The joint ownership of property by two or more co-owners in which each co-owner owns an
undivided portion of the property. On the death of one of the joint tenants, his or her interest
automatically passes to the surviving joint tenant or tenants. correct answers Joint Tenancy
Buyer's purchase offer, seller's response, purchase and sale agreement, title examination and
insurance, and closing. correct answers Steps Involved in the Sale of Real Estate
A written instrument giving a creditor an interest in the debtor's property as security for a
debt. correct answers Mortgage
A document by which title to property is transferred from one party to another. correct
answers Deed
A contractual agreement under which a property owner (the lessor) agrees to rent their
property to another (the lessee) for a specific time period. correct answers Lease
A prediction concerning potential loss based on known and unknown factors. correct answers
Risk
Planning that is undertaken to reduce the risk of loss from known and unknown events. In the
context of insurance, this involves transferring certain risks from the insured to the insurance
company. correct answers Risk Management
, A person appointed by the court to represent the interests of a child or a mentally incompetent
person before the court. correct answers Guardian ad litem
A division of property between spouses on the termination of a marriage. correct answers
Property Settlement
All property acquired during the course of a marriage, apart from inheritances and gifts made
to one or the other of the spouses. correct answers Marital Property
Property that a spouse owned before the marriage, plus inheritances and gifts acquired by the
spouse during the marriage. correct answers Separate Property
In certain states, all property acquired during a marriage, except for inheritances or gifts
received during the marriage by either marital partner. Each partner has a one-half ownership
interest in this type of property. correct answers Community Property
A contract formed between two persons who are contemplating marriage to provide for the
disposition of property in the event of a divorce or death of one of the spouses after they have
married. correct answers Prenuptial Agreement
Wills and Trusts correct answers Estate-planning process
Final declaration of how a person wishes to have his or her property disposed of after death.
correct answers Will
One who makes a valid will. correct answers Testator
The condition of having died with a valid will. correct answers Testate
The state of having died without a valid will. correct answers Intestate
State statutes that specify how property will be distributed when a person dies intestate.
correct answers Intestacy Laws
A person appointed by a testator to serve as a personal representative on the testator's death.
correct answers Executor
A person appointed by a court to serve as a personal representative for a person who died
intestate, who made a will but failed to name an executor, or whose executor cannot serve.
correct answers Administrator
To prove and validate a will; the process of proving and validating a will and settling matters
pertaining to the administration of a decedent's estate, guardianship of a decedent's children,
and similar matters. correct answers Probate
Testamentary capacity, must be in writing, must be signed by testator, must be witnessed, and
must be published (in some states). correct answers Requirements for a Valid Will
An arrangement in which property is transferred by one person (the grantor, or settlor) to
another (the trustee) for the benefit of a third party (the beneficiary). correct answers Trust
