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MIE 305 Final Exam Questions With 100% Correct Answers!!

MIE 305 Exam 3 – Book Questions and Answers

MIE 305 EXAM 1 QUESTIONS AND ANSWERS ALREADY PASSED What is the importance of a Business Law course in a business/management curriculum, and/or the importance of knowing something about it to a businessperson? - The law is important to modern business - The history of business reveals the prominence of law - Educators today emphasize the role of law in preparing tomorrow's business leaders How can businesspeople use the law to a strategic advantage? - Knowing the legal rights and du...

MIE 305 Final Exam with correct Answers

MIE 305 Exam 3 Latest Update with Verified Solutions Bundle of Rights sticks metaphor owner = entire bundle of sticks renter = only a few sticks possession, use, control, exclusion, transfer Property Rights the legal rights that a person has over a piece of real property Real Property The legal interests in land and things attached to or growing on land ex: part of the earth’s surface, buildings, fences, and trees used to describe the legal rights that a person can have i...

MIE 305 Exam 3 – Lectures Questions and Answers

MIE 305 EXAM 1 QUESTIONS WITH CORRECT ANSWERS

MIE 305 Exam 2 Latest Version with Certified Solutions Articles of Confederation 1st Constitution of the U.S. (weaknesses-no executive, no judicial, no power to tax, no power to regulate trade) Structure of the Constitution A document creating a form of government resting on the principles of federalism and free enterprise. It is composed of a preamble, 7 articles, and 27 amendments. It creates the federal government with 3 distinct branches (legislative, executive, and judicial).I...

MIE 305 Exam 1 Latest Version with Complete Solutions Law a body of enforceable rules governing relationships among individuals and between individuals and their society -establish rights, duties, and privileges that are consistent w/ the values & beliefs of a society or its ruling group role of law in small business 1. Business organization (type of entity, how much personal liability?) 2. Taxation (how it will be taxed, how to reduce taxes) 3. Intellectual property (any patents ...

MIE 305 Final Exam Latest Update with Verified Solutions Contract a promise or set of promises supported by the exchange of bargained-for consideration for the breach of which the law gives a remedy, or the performance of which the law recognizes as an enforceable duty. "a promise or set of promises that are enforceable in court." primarily state based common law contract elements -Agreement: the parties agree to the exchange of legal detriment as to each other -Bargained-for con...