Legl 2700 roessing Study guides, Class notes & Summaries

LEGL 2700 Roessing Test 1 Questions and Answers

LEGL 2700 Roessing Test 3 Questions and Answers

LEGL 2700 ROESSING TEST 1 WITH COMPLETE SOLUTIONS Law - Correct ️️ made up of rules laid down by state and backed by enforcement -written social force -mean nothing w/o enforcement Rule of Law - Correct ️️ -laws are made generally and apply to everyone equally -necessary for strong and diverse economies -transparency in business Property - Correct ️️ ownership-allows you to exclude others without your permission Common Property - Correct ️️ resources like land that multip...

LEGL 2700 Roessing Exam 2 Questions and Answers

property - correct answer -the legal right to exclude others from resources that are originally possessed or are acquired without force, theft, or fraud private property - correct answer -protects private persons and allows them to exclude others from interfering with resources that are acquired without force, theft, or fraud public property - correct answer -state's right under various circumstances to exclude people from state monuments, buildings, equipment, land, and other public reso...

Promise - correct answer A commitment or willingness to be bound to a contract obligation Uniform Commercial Code (UCC) - correct answer The most successful attempt to have states adopt a uniform law Purpose is to simplify, clarify, and modernize the laws governing commercial transactions Goods - correct answer Tangible (touchable), movable personal property Bilateral Contract - correct answer Promise in exchange for a promise Involves promisor and promisee Usually made to a ...

LEGL 2700 ROESSING TEST 1 QUESTIONS AND ANSWERS

LEGL 2700 Roessing Test 1 Terms

Members - correct answer -The individuals or business entities that belong to a limited liability company Benefit Corporation - correct answer -a corporate form that requires directors to ensure that the corporation meets explicit social goals in addition to producing shareholder profits Managers - correct answer -A person designated and charged with day-to-day operations of a limited liability company Organizer - correct answer -The parties responsible for bringing a limited liability ...

LEGL 2700 Roessing Test 3 - 2024...