NALA Certified Paralegal Exam Concepts

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, usually overseen by a probate court.

A trust created by the grantor (settlor) and effective during the grantor's lifetime.

Any word or action intended to make another person apprehensive or fearful of immediate physical harm, a reasonably believable threat.

<p>The intentional and offensive touching of another without lawful justification.</p> Signup and view all the answers

<p>A theory in tort law under which a complaining party's own negligence contributed to his or her injuries, serving as an absolute bar to recovery in some jurisdictions.</p> Signup and view all the answers

<p>A theory in tort law under which the liability for injuries resulting from negligent acts is shared by all persons guilty of negligence based on each person's proportionate carelessness.</p> Signup and view all the answers

<p>An action or failure to act in violation of a statutory requirement.</p> Signup and view all the answers

<p>Liability regardless of fault; in tort law, it may be imposed on a merchant introducing a defectively dangerous good into commerce.</p> Signup and view all the answers

<p>Exclusive use of the trademark</p> Signup and view all the answers

<p>A term indicating part or all of a business's name related to its reputation and goodwill.</p> Signup and view all the answers

<p>Information or processes that give a business an advantage over competitors.</p> Signup and view all the answers

<p>Immovable property consisting of land and its buildings and plant life.</p> Signup and view all the answers

<p>Any property that is not real property.</p> Signup and view all the answers

<p>Ownership rights allowing the holder to use, possess, or dispose of property.</p> Signup and view all the answers

<p>The power of a government to take land for public use with just compensation.</p> Signup and view all the answers

<p>The right to make limited use of another person's real property.</p> Signup and view all the answers

<p>A form of co-ownership where each party owns an undivided interest.</p> Signup and view all the answers

<p>Joint ownership of property by co-owners where interest passes to surviving owners upon death.</p> Signup and view all the answers

<p>Buyer's purchase offer, seller's response, purchase and sale agreement, title examination, and closing.</p> Signup and view all the answers

<p>A written instrument granting a creditor interest in a debtor's property as security for a debt.</p> Signup and view all the answers

<p>A document that transfers title to property from one party to another.</p> Signup and view all the answers

<p>A contractual agreement to rent property for a specified time period.</p> Signup and view all the answers

<p>A prediction concerning potential loss based on known and unknown factors.</p> Signup and view all the answers

<p>Planning to reduce the risk of loss from events.</p> Signup and view all the answers

<p>A person appointed by the court to represent the interests of a child or mentally incompetent person.</p> Signup and view all the answers

<p>All of the Above</p> Signup and view all the answers

<p>The division of property between spouses upon the termination of a marriage.</p> Signup and view all the answers

<p>All property acquired during the course of a marriage, except inheritances and gifts.</p> Signup and view all the answers

<p>A meeting of the minds between parties that involves an offer and its acceptance.</p> Signup and view all the answers

<p>Property owned by a spouse before marriage, plus inheritances and gifts received during marriage.</p> Signup and view all the answers

<p>A promise or commitment to do or refrain from doing something specified in the future.</p> Signup and view all the answers

<p>Property acquired during marriage, except for inheritances or gifts.</p> Signup and view all the answers

<p>The party making the offer.</p> Signup and view all the answers

<p>The party to whom the offer is made.</p> Signup and view all the answers

<p>The offeree's indication that they agree to the terms of the offer.</p> Signup and view all the answers

<p>A rule that requires the terms of acceptance to mirror the terms of the offer.</p> Signup and view all the answers

<p>Acceptance takes effect when communicated by the mode authorized by the offeror.</p> Signup and view all the answers

<p>Something of value that motivates the formation of a contract.</p> Signup and view all the answers

<p>A doctrine making a promise binding if relied upon by the promisee.</p> Signup and view all the answers

<p>The mental capacity required by law for a party to be bound by a contract.</p> Signup and view all the answers

<p>A state statute requiring certain types of contracts to be in writing.</p> Signup and view all the answers

<p>One who has an ownership interest in a corporation through the purchase of corporate shares or stock.</p> Signup and view all the answers

<p>A unit of stock; a measure of ownership interest in a corporation.</p> Signup and view all the answers

<p>Statutes that contain uniform laws governing business transactions.</p> Signup and view all the answers

<p>A person elected by the shareholders to direct corporate affairs.</p> Signup and view all the answers

<p>An action to undo or terminate a contract.</p> Signup and view all the answers

<p>An equitable remedy restoring a person to their original position prior to loss.</p> Signup and view all the answers

<p>A person hired by corporate directors to assist in the management of the day-to-day operations of the corporation.</p> Signup and view all the answers

<p>An equitable remedy to correct a written contract to reflect true intentions.</p> Signup and view all the answers

<p>The document filed with the appropriate state official when a business is incorporated.</p> Signup and view all the answers

<p>The document issued by a state official granting a corporation legal existence.</p> Signup and view all the answers

<p>Patent, Copyright, Trademark, Trade Secret.</p> Signup and view all the answers

<p>A government grant giving an inventor exclusive rights to an invention.</p> Signup and view all the answers

<p>A hybrid form of business organization that provides limited liability to its owners while passing profits through to them.</p> Signup and view all the answers

<p>The exclusive right of an author to publish or sell their intellectual production.</p> Signup and view all the answers

<p>A hybrid form of business organization allowing professionals to enjoy tax benefits while limiting their normal joint and several liabilities.</p> Signup and view all the answers

<p>A distinctive mark or emblem used to identify goods' origin.</p> Signup and view all the answers

<p>A corporation formed by professionals, such as attorneys or accountants.</p> Signup and view all the answers

<p>A relationship involving a high degree of trust and confidence.</p> Signup and view all the answers

<p>A doctrine in agency law holding a principal-employer liable for wrongful acts committed by agents within the scope of their employment.</p> Signup and view all the answers

<p>Legal responsibility placed on one person for the acts of another.</p> Signup and view all the answers

<p>United States Gift (and Generation-Skipping Transfer) Tax Return.</p> Signup and view all the answers

<p>Figures the estate tax imposed by Chapter 11 of the Internal Revenue Code.</p> Signup and view all the answers

<p>Standard form to file annual income tax returns.</p> Signup and view all the answers

<p>Required if the estate generates more than $600 in annual gross income.</p> Signup and view all the answers

<p>A paralegal must not perform duties that only attorneys may perform.</p> Signup and view all the answers

<p>A paralegal may perform any task that is properly delegated and supervised by an attorney.</p> Signup and view all the answers

<p>Disclose paralegal status</p> Signup and view all the answers

<p>A paralegal must use discretion and professional judgment but not render independent legal judgment.</p> Signup and view all the answers

<p>Disclose their status as a paralegal.</p> Signup and view all the answers

<p>Integrity and competency</p> Signup and view all the answers

<p>False</p> Signup and view all the answers

<p>Any pre-existing client or personal relationship that may conflict with their employer's interests.</p> Signup and view all the answers

<p>All things incidental or necessary for ethical responsibilities as defined by statute or court rule.</p> Signup and view all the answers

<p>Bar associations' code of professional responsibility</p> Signup and view all the answers

<p>A state statute that allows jurisdiction over nonresidents with specific 'minimum contacts' with that state.</p> Signup and view all the answers

<p>criteria</p> Signup and view all the answers

<p>The length of time claimants have to file a case.</p> Signup and view all the answers

<p>A short term business venture for a very specific purpose.</p> Signup and view all the answers

<p>Division of property in case of divorce</p> Signup and view all the answers

<p>Estate-planning process</p> Signup and view all the answers

<p>Final declaration of how a person wishes to have his or her property disposed of after death.</p> Signup and view all the answers

<p>One who makes a valid will.</p> Signup and view all the answers

<p>False</p> Signup and view all the answers

<p>False</p> Signup and view all the answers

<p>State statutes that specify how property will be distributed when a person dies intestate.</p> Signup and view all the answers

<p>A person appointed by a testator to serve as a personal representative on the testator's death.</p> Signup and view all the answers

<p>A person appointed by a court to serve as a personal representative for a person who died intestate.</p> Signup and view all the answers

<p>To prove and validate a will.</p> Signup and view all the answers

<p>Must be signed by the testator</p> Signup and view all the answers

<p>An arrangement in which property is transferred by one person to another for the benefit of a third party.</p> Signup and view all the answers

<p>A trust that is created by will and that does not take effect until the death of the testator.</p> Signup and view all the answers

<p>The simplest form of business in which one person owns the business.</p> Signup and view all the answers

<p>Entitled to all profits</p> Signup and view all the answers

<p>Unlimited personal liability</p> Signup and view all the answers

<p>Two or more individuals who undertake to do business together.</p> Signup and view all the answers

<p>Shared liability in partnership law.</p> Signup and view all the answers

<p>Shared and individual liability.</p> Signup and view all the answers

<p>A partnership consisting of one or more general partners and one or more limited partners.</p> Signup and view all the answers

<p>A partner who participates in managing the business of a partnership.</p> Signup and view all the answers

<p>One who invests in a limited partnership but does not play an active role in managing the operation.</p> Signup and view all the answers