BUSI 301 (BUSI 301)

BUSI 301 Liberty University -BUSI 301- Exam 3 with 100% correct answersFormation of Agency Relationship - correct answer An agency relationship is formed when the agent and the principal and subject to the principal's control ABC test - correct answer Mutual assent on behalf of and subject to the control of ABC test definition - correct answer Statutory standard used by many states to determine agency status Employee Agent - correct answer Anyone who performs services for a principal w...

BUSI 301 Liberty University -BUSI 301 Practice Quiz 1 with complete solutionsDeveloping legal insight by understanding the fundamentals of legal theory is the first step in learning how to make legal decisions in a business. - correct answer True Which of the following is an example of equitable relief? a. a statutory scheme b. a fine imposed for speeding c. a breech of contract d. a restraining order - correct answer D. A restraining order In some cases, a party will not necessarily...

BUSI 301 Liberty University -BUSI 301 Practice Quiz fully solvedAttorneys who are part of the executive or mid-level management team of large companies are known as: - correct answer In-house counsel. Which of the following is an example of equitable relief? - correct answer Specific Performance. Venue is a determination of the most appropriate court location for litigating a dispute? True or False? - correct answer True. Fundamentally, state trial courts rule on certain points of state...

BUSI 301 Liberty University -BUSI 301 Quiz 1 well answered rated A+Stare decisis is a Latin phrase that means ____________________________. - correct answer Similar cases with similar facts and issues should have similar judicial outcomes. It is less common for States to amend their constitutions than it is for Congress to amend the U.S. Constitution. - correct answer false Congress is drafting a piece of legislation that legalizes marijuana. It has not yet passed both Houses of Congress b...

BUSI 301 Liberty University -Busi 301 Quiz 1 questions n answers_____ is the first step in learning how to make legal decisions in a business context. - correct answer Developing legal insight by understanding the fundamentals of legal theory Attorneys who are part of the executive or midlevel management team of large companies are known as: - correct answer in-house counsel. Which of the following is the primary purpose of state long-arm statutes? - correct answer To authorize personal ju...

BUSI 301 Liberty University -BUSI 301 Test #2 Liberty University well answeredMutual asset - correct answer Offer and agreement between parties Capacity to contract - correct answer Parties must be of proper age and mental competence Consideration - correct answer Bargained for exchange of goods and/or services Legal Purpose - correct answer Reason and outcome of the contract must be legal Contracts for services (legal, accounting, engineering, real estate) - correct answer State Com...

BUSI 301 Liberty University -BUSI 301 Test #3 well answeredPrinciple - correct answer An agent's master; the person from whom an agent has received instruction and authorization and to whose benefit the agent is expected to perform and make decisions pursuant to an agency relationship. Agent - correct answer One who agrees to act and is authorized to act on behalf of another, ap rincipal, to legally bind the principal in particular business transactions with third parties pursuant to an agen...

BUSI 301 Liberty University -BUSI 301 Test 2 well answeredGenericization occurs when a trademark has lost its distinctiveness and becomes a general term describing a type of product rather than a specific company's product. - correct answer true The doctrine of equivalence will negate the effect of the doctrine of omission if the new item performs substantially the same function as the already patented item. - correct answer true Satires and parodies have generally been deemed not to be c...

BUSI 301 Liberty University -BUSI 301 Test 3 with verified answers graded A+Which of the following is NOT one of the six keys to running a successful meeting? - correct answer Making sure that each member is taking their own notes Symptoms of groupthink manifest in which three ways? - correct answer Overestimation of group's power, closed-mindedness, pressure toward uniformity A disadvantage of the rumor mill is - correct answer Both B and D Common tenants for developing and giving a s...

BUSI 301 Liberty University -BUSI 301 Unit 3 Test well answered to passagency law generally exists on the state statutory level and is based on the: - correct answer restatement (second) of agency indemnification - correct answer right of reimbursement from another for a loss suffered due to a third party's act or default vicarious liability - correct answer liability that a supervisory party (typically an employer) bears for the actionable conduct of a subordinate or associate (such as a...