BUSINESS 124

Business Law Unit 1 Challenges Sophia Business Law Unit 1 Challenges Sophia Challenge no# 1 1.The theory of legal realism is based on which of the following?  A.) Societal norms  B.) Interpretation and enforcement  C.) Human rights  D.) Coercion 2.The theory of legal positivism is based on which of the following?  a.) The social construction of laws  b.) Social and economic interests  c.) The morality of laws  d.) Due process 3.The theory of natural l...

1. James is borrowing $2000 from his employer and will pay it back at the end of 3 years. The employer lending the money asks that James pay simple interest of 3% annually. Using the simple interest formula, I=P∙ R∙T , determine how much interest James will have to payback in addition to the $2000 principal amount. I = P * R * T I = (2000)(.03)(3) payment: Principle, Rate as in decimal, Time in years = $180 $2180 2. Ryan is investing $9000 in a CD at a bank. If the bank uses simple int...

Business Law Unit 3 Challenges Sophia Business Law Unit 3 Challenges Sophia Unit no #3 Challenge no 1 Which of the following is the fundamental definition of property ownership? · a.) The right to control property · b.) The possession of property · c.) The right to exclude others from property · d.) The right to acquire property Which of the following is true of property ownership in the United States? · a.) Nonhuman legal persons, such as corporations, may own property. · ...

Business Law Unit 3 Challenges Sophia Unit no #3 Challenge no 1 Which of the following is the fundamental definition of property ownership? · a.) The right to control property · b.) The possession of property · c.) The right to exclude others from property · d.) The right to acquire property Which of the following is true of property ownership in the United States? · a.) Nonhuman legal persons, such as corporations, may own property. · b.) Property ownership has always been...

UNIT 1 — MILESTONE 1 1 Which of the following is an example of a sole proprietorship?  Shawn is a partner in a successful downtown law firm. He has a number of clients that he is exclusively responsible for, so he works very hard to make sure they're happy with his services.  Matt and Carlene are both owners of a business that sells hand-crafted home goods via the Internet. Although they both own the business, Matt is solely responsible for the business operations.  Issa ...

Business Law Unit 2 Challenges Sophia Business Law Unit 2 Challenges Sophia Unit no # 2 Challenge no #2 The purpose of contracts is __________. · a.) to equalize outcomes in capitalistic societies · b.) to prevent people from making independent choices · c.) to encourage the exchange of goods and services between people · d.) to maintain a traditional social hierarchy Contracts function as a symbol of __________ in modern society. · a.) chaos · b.) individual freedom · c...

UNIT 1 — MILESTONE 1 1 Which of the following is an example of a sole proprietorship?  Shawn is a partner in a successful downtown law firm. He has a number of clients that he is exclusively responsible for, so he works very hard to make sure they're happy with his services.  Matt and Carlene are both owners of a business that sells hand-crafted home goods via the Internet. Although they both own the business, Matt is solely responsible for the business operations.  Issa ...