Blaw 3391 Study guides, Class notes & Summaries

BLAW Pleasant Exam 1 TTU Questions With Verified Answers Primary Source of Law a document that establishes the law on a particular issue, such as constitution, a statute, an administrative rule, or a court decision. Constitutional Law (4 sources of law) law based on documents setting forth for the general organizations, powers, and limits of the government. Executive Orders Legally binding directive from the president. Treaties written agreements by 2 or more countries. -b...

BLAW 3391 TTU Exam 2 Questions And Answers (Verified And Updated) Sole Proprietorship Simplest business form; owner is the business. Owner reports business income on personal income tax return and is legally responsible for all debts and obligations incurred by the business. 2/3 of all U.S. businesses are formed in this way. Sole Proprietorship Advantages •Owner receives all profits; pays only personal taxes •Easy to create; less costly •Flexible decision making Sole Proprie...

BLAW 3391 Pleasant Exam 2 Questions With Verified Answers One who initiates and assumes the financial risk of a new business enterprise and undertakes to provide or control its management Entrepreneur The simplest form of business organization, in which the owner reports business income on his or her personal income tax return and is legally responsible for all debts and obligations incurred by the business. Sole Proprietorship You can establish without filing any legal documents. ...

BLAW 3391 Pleasant Exam 2 Questions With Verified Answers Entrepreneur One who initiates and assumes the financial risk of a new business enterprise and undertakes to provide or control its management Sole Proprietorship The simplest form of business organization, in which the owner reports business income on his or her personal income tax return and is legally responsible for all debts and obligations incurred by the business. Sole Proprietorship in TX You can establish without fi...

BLAW 3391 Pleasant Exam 2 Questions With Verified Answers One who initiates and assumes the financial risk of a new business enterprise and undertakes to provide or control its management - answerEntrepreneur The simplest form of business organization, in which the owner reports business income on his or her personal income tax return and is legally responsible for all debts and obligations incurred by the business. - answerSole Proprietorship You can establish without filing any legal do...

Sole Proprietorship - Answer-Simplest business form; owner is the business. Owner reports business income on personal income tax return and is legally responsible for all debts and obligations incurred by the business. 2/3 of all U.S. businesses are formed in this way. Sole Proprietorship Advantages - Answer-•Owner receives all profits; pays only personal taxes •Easy to create; less costly •Flexible decision making Sole Proprietorship Disadvantages - Answer-•Owner responsible for a...

Blaw 3391 Test #1 Exam Questions With Verified Answers 100% Solved Constitutional Law 1st Source of law - Federal and State Constitutions Executive Order Legally binding directive from the president - Ex in 1957 Eisenhower ordered federal troops to enforce the Supreme Court's ruling to desegregate the school system Treaty Written Agreement between two or more countries Becomes Legally binding when they are approved by 2/3 of the Senate Statutory Law 2nd Source of law - the f...

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...

Entrepreneur - Answer-One who initiates and assumes the financial risk of a new business enterprise and undertakes to provide or control its management Sole Proprietorship - Answer-The simplest form of business organization, in which the owner reports business income on his or her personal income tax return and is legally responsible for all debts and obligations incurred by the business. Sole Proprietorship in TX - Answer-You can establish without filing any legal documents. 1) choose a B...

BLAW 3391 TTU Exam 2 Questions And Answers (Verified And Updated) Sole Proprietorship Simplest business form; owner is the business. Owner reports business income on personal income tax return and is legally responsible for all debts and obligations incurred by the business. 2/3 of all U.S. businesses are formed in this way. Sole Proprietorship Advantages •Owner receives all profits; pays only personal taxes •Easy to create; less costly •Flexible decision making Sole Proprie...