Blaw 3391 ttu - Study guides, Class notes & Summaries

BLAW 3391 TTU Final Questions With Verified Answers Requirements of a valid contract 1. Agreement 2. Consideration 3. Contractual Capacity 4. Legality Bilateral Contract 2 Promises (promise for a promise) Unilateral Contract Can only accept if the job happens Requirements for implied contracts 1. The plaintiff furnished some service or property 2. The plaintiff expected to be paid for that service or property, and the defendant knew or expected 3. The defendant had a chance to reje...

BLAW 3391 TTU EXAM Questions With Verified Answers 1. One primary source of American law is: a. the Declaration of Independence. b. the Magna Carta. c. the U.S. Constitution. d. the United Nations Universal Declaration of Human Rights. c. the U.S. Constitution 2. A state's constitution is a primary source of law in that state. a. True b. False true 3. Law based on documents setting forth the general organization, powers, and limits of the government is called _____________________...

sole proprietorship - business owned and operated by one person unlimited liability - legal exposure in which an owner of a business is personally liable for all of the debts and obligations of the business what is the most popular form of business organization in the US? - sole proprietorship sole proprietorship advantages - -easily established -no partners or shareholders -only pay taxes on income generated -all after tax profit stays with the owner -minimal government regulation sole...

BLAW 3391 TTU Exam 1 (Mcinturff) Questions With Verified Answers Laws rules governing relationships among individuals and between individuals and their society. Priorities of Law? (Highest to lowest) Federal Constitution Federal Statutes State Constitution State Statutes Local Ordinances Conflict Order of precedence Agencies created by legislatures and make their own rules which have the legal force of statutory law. (ex: IRS) Common Law - The earliest version of law - Laws ...

tangible personal property - Answer-personal property that can be moved contract - Answer-legally enforceable agreement that is created when two or more competent parties agree to perform, or to avoid performing, certain acts that they have a legal right to do and that meet certain legal requirements offer - Answer-a proposal made by one party (the offeror) to another person (the offeree) that indicates a willingness to enter into a contract offeror - Answer-the person making the proposal ...

BLAW 3391 Exam 2 TTU Questions With Verified Answers 100% Solved sole proprietorship - answerbusiness owned and operated by one person unlimited liability - answerlegal exposure in which an owner of a business is personally liable for all of the debts and obligations of the business what is the most popular form of business organization in the US? - answersole proprietorship sole proprietorship advantages - answer-easily established -no partners or shareholders -only pay taxes on income...

BLAW 3391 Exam 2 TTU Questions With Verified Answers 100% Solved sole proprietorship - answerbusiness owned and operated by one person unlimited liability - answerlegal exposure in which an owner of a business is personally liable for all of the debts and obligations of the business what is the most popular form of business organization in the US? - answersole proprietorship sole proprietorship advantages - answer-easily established -no partners or shareholders -only pay taxes on income...

BLAW 3391 TTU Exam 1 (Mcinturff) Q&A

BLAW 3391 Exam 2 TTU Questions With Verified Answers 100% Solved sole proprietorship - answerbusiness owned and operated by one person unlimited liability - answerlegal exposure in which an owner of a business is personally liable for all of the debts and obligations of the business what is the most popular form of business organization in the US? - answersole proprietorship sole proprietorship advantages - answer-easily established -no partners or shareholders -only pay taxes on income...