Lsb 3213 - Study guides, Class notes & Summaries

Suppose that Warren is sitting in his living room watching his favorite television show when a rock smashes through his roof, landing just next to him. He immediately heads outside his house to discover that the rock came from blasting being performed by Wiley blasting company, Inc. On an adjacent lot. Warren suffer severe emotional distress because of the experience. What is his best theory of recovery against Wiley? - ️️Strict Liability Special relationship - ️️In tort law, a hei...

Depositions are a. oral questions, answered orally, asked of parties and witnesses. b. oral questions, answered orally, asked only of parties. c. written questions, answered in writing, asked of parties and witnesses. d. written questions, answered in writing, asked only of parties. - a. oral questions, answered orally, asked of parties and witnesses. Brenna confronts Noah at work as he is continually taking packets of printer paper and pens from the office supply closest for his own pers...

LSB 3213 Exam 1 (Okstate) All Answers Correct - Simply knowing the "black-letter" law and understanding the behaviors that could result in liability is not sufficient. - Areas of law that influence business decisions include contracts, intellectual property, product liability, tort law, sales, internet law (especially regarding privacy), and environmental law. - Torts are defined within common law jurisdictions as civil wrongs that cause another party to experience a loss. - Primary sou...

LSB 3213 Holden OKstate smart book chapter 7 (Complete) Questions & Answers.

What is a bill draft or proposed statute that a legislature has not yet passed or the executive has not yet approved What is a statue created by a legislative body for the passage of federal law What is an ordinance, and what types of issues do ordinances generally regulate? statutes at local level are ordinances. Generally regulate issues such as time zone or impose health and safety regulations on local merchants such as restaurants. What is common law? essential law made by...

LSB 3213 Exam 4 Questions and Correct Answers the Latest Update and Recommended Version

LSB 3213 - exam 2 - A contract is defined as a legally enforceable promise or a set of promises. - The four essential elements required for a valid contract are: 1. **Mutual Assent**: Both parties must express their willingness to enter into the contract, either through words or behavior. 2. **Consideration**: Each party must receive something of value (a legal benefit) and give something of value (a legal detriment). 3. **Legality of Purpose**: The contract must have a lawful objectiv...

All of the following are methods that a sole proprietorship can raise money except A) Private loans. B) Commercial loans. C) Sell ownership in the business. D) Line of credit - Sell ownership in the business Which of the following is true about a sole proprietorship? A) It is subject to corporate income tax. B) Sole proprietorships face double taxation. C) The owner reports income and expenses on the owner's own tax return. D) The owner must file a tax return on behalf of the busines...

Illegal contracts are A) Void B) Voidable C) Unjust D) A violation of the Uniform Commercial Code - A In general, contracts for the sale of goods are governed by: A) the Uniform Commercial Code. B) state statutory law based on the Uniform Commercial Code. C) state common law. D) federal regulations. - B Will and Kendrick live in a state that requires that contracts involving transactions over $500 be in writing. If they enter a verbal agreement to buy a car for $1,500, this contr...

LSB 3213 Exam 4 Already Rated A+ - A condition precedent must be fulfilled before a party's performance is required. ️True - A party usually fulfills its obligations under a contract through novation. ️False - Complete performance occurs when all conditions in a contract are ️fully satisfied. - Performance that allows a party to receive most of the benefits from a contract, despite some deviations from the terms, is called ️substantial performance. - An intentional deviation from a co...