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BLAW 3310 Exam 3 Questions and Answers (100% Pass) $9.99   Add to cart

Exam (elaborations)

BLAW 3310 Exam 3 Questions and Answers (100% Pass)

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  • BLAW 3310
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  • BLAW 3310

SOLE PROPRIETORSHIP → person doing business for himself ADVANTAGES AND DISADVANTAGES OF SOLE PROPRIETORSHIP → freedom, control, full liability PARTNERSHIP → two or more persons carrying on business as owners for profit; must INFER that partnership exists; individual partner can make de...

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  • September 25, 2024
  • 10
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • BLAW 3310
  • BLAW 3310
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1 | P a g e | © copyright 2024/2025 | Grade A+




BLAW 3310 Exam 3 Questions and
Answers (100% Pass)
SOLE PROPRIETORSHIP

→ person doing business for himself


ADVANTAGES AND DISADVANTAGES OF SOLE PROPRIETORSHIP

→ freedom, control, full liability


PARTNERSHIP

→ two or more persons carrying on business as owners for profit; must
INFER that partnership exists; individual partner can make decisions on
basic things, but ALL decide and agree on extraordinary things


LIMITED PARTNERSHIP

→ at least one general partner and at least one limited partner


OPERATIVE ACT TO FORM CORPORATION

→ filing document (Articles of Incorporation) with Secretary of State


BYLAWS

→ rules that regulate and govern the internal operations of the
corporation


RIGHTS OF CORPORATIONS

→ free speech, free from search and seizure without warrant


RIGHT CORPORATION DOES NOT HAVE



Master01 | September, 2024/2025 | Latest update

, 1 | P a g e | © copyright 2024/2025 | Grade A+


→ 5th amendment self incrimination


WHAT FRANCHISOR HAS TO DO

→ must give lots of info to franchisee; financial returns


FTC FRANCHISE RULE

→ franchisor must give franchisee detailed info AT LEAST 10 DAYS PRIOR:
names, address, phone, responsibilities of franchisor and franchisee,
number of franchisees and how many gone out of business


NOTE

→ "I PROMIES to pay"; TWO parties, maker signs it, payee is to whom it is
made to


DRAFT

→ "pay"; THREE parties drawer (signs it), payee (to whom it is made
payable), drawee (check=bank; non-check=whoever you're directing
to pay the money)


MAKER

→ the one who signs on a note


DRAWER

→ orders drawee to pay payee


IF SAYS "PAY TO THE ORDER OF"

→ person to whom it's made payable must SIGN it, then DELIVER


IF SAYS "PAYABLE TO CASH/BEARER/NOBODY IN PARTICULAR"



Master01 | September, 2024/2025 | Latest update

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