BLAW Study guides, Class notes & Summaries

BLAW Pleasant Exam 1 TTU Questions With Verified Answers Primary Source of Law - answera 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) - answerlaw based on documents setting forth for the general organizations, powers, and limits of the government. Executive Orders - answerLegally binding directive from the president. Treaties - answerwritten agreements by 2 or ...

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...

BLAW 3391 TTU Exam 2 Questions And Answers (Verified And Updated) Sole Proprietorship - answerSimplest 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 So...

BLAW Final Exam Review Ch. 10-18 Pleasant TTU Questions And Answers (Verified And Updated) Jackie agrees to pay Ben $1,000 if Ben agrees to not go skydiving for six months. After Ben avoids skydiving for six months, he asks Jackie for payment. Jackie declines to pay Ben the $1,000. The contract between Jackie and Ben: - answerwill be enforced because Ben exercised forbearance which is legally sufficient consideration. Michael agrees to buy Randy's wheelbarrow for $100. After the agreemen...

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

BLAW FINAL EXAM QUESTIONS AND CORRECT ANSWERS 2024

A principal and agent relationship requires a : Meetings of the minds and consent to act The term _____ is used to describe the nature of a person's ownership interest in real property. : Estate Joe has not paid his ex-wife alimony as required under court order. His ex-wife is trying tocollect the alimony Joe owes her. Joe files a bankruptcy petition. This automatically stays hisex-wife's collection efforts. : False which of the following is a true statement about easements? : It gi...

BLAW EXAM 2 – Questions And Complete Answers

BLAW Exam – Questions & Answers (100% Accurate)

BLAW 2: Questions & Solutions (Guaranteed Pass!)