Busi 301 Study guides, Class notes & Summaries

BUSI 301 Exam 2 Practice Questions 2024. _____ is typically accomplished by attaching some event, known as a(n) ______ that must occur before a particular performance obligation is triggered. - CORRECT ANSWER Risk Allocation; Condition A(n) ______ means that an event that must occur before performance under a contract is due. - CORRECT ANSWER Condition Precedent If the elements of contract formation are satisfied, the contract must still:______. - CORRECT ANSWER be in writing under ce...

BUSI 301 Exam 2 Advanced Questions & Answers 2024. _____ is typically accomplished by attaching some event, known as a(n) ______ that must occur before a particular performance obligation is triggered. - CORRECT ANSWER Risk Allocation; Condition A(n) ______ means that an event that must occur before performance under a contract is due. - CORRECT ANSWER Condition Precedent If the elements of contract formation are satisfied, the contract must still:______. - CORRECT ANSWER be in writin...

BUSI 301 - Connect Homework With Complete Answers 2024. What type of litigation involves parties and their counsel arguing their respective positions on a business controversy in a court of law? - CORRECT ANSWER Civil In a business context, dispute resolution should be: - CORRECT ANSWER 1. a part of business strategy. 2. a part of business planning. How does a plaintiff initiate a civil lawsuit? - CORRECT ANSWER Filing a complaint Documents filed by a party to the lawsuit, asking ...

Liberty University-BUSI 301-BUSI LAW- FINAL CH. 14-17 STUDY GUIDE EXAM 2024. Principals - CORRECT ANSWER Owners Busi Entity When choosing a business entity, what 5 things should be considered? What starts a business - CORRECT ANSWER Formation Liability Cap Tax Mangagment/ Operation Sole Proprietorship - CORRECT ANSWER Easy formation Minimal fee No annual fillings straight forward filing CAP- loan secured by personal assets trade name vs. individual names con- lack of prot...

BUSI 301 Exam 1 Vocabulary (Ch.1-4; 24-25) Correctly Answered 2024 Rated A+. law - CORRECT ANSWER A body of rules of action or conduct prescribed by controlling authority and having legal binding force. Jurisprudence - CORRECT ANSWER The science and philosophy of law that defines various approaches to the appropriate function of law and how legal doctrines should be developed and applied. Black's Law Dictionary - CORRECT ANSWER The leading legal dictionary. Counsel - CORRECT ANSWE...

BUSI 301- Exam 3 Questions Correctly Answered 2024. Formation of Agency Relationship - CORRECT ANSWER An agency relationship is formed when the agent and the principal and subject to the principal's control ABC test - CORRECT ANSWER Mutual assent on behalf of and subject to the control of ABC test defintion - CORRECT ANSWER Statutory standard used by many states to determine agency status Employee Agent - CORRECT ANSWER Anyone who performs services for a principal who can control ...

BUSI 301 Week 5: Ch. 15 Study Guide 2024. Business corporation law - CORRECT ANSWER Often the title for a specific state law that covers such matters as the structure of the corporation, oversight of the activity of the corporation's managers, rights of the principals in the case of the sale of assets or ownership interests, annual reporting requirements, and other issues that affect the internal rules of the business venture. Revised Model Business Corporation Act (RMBCA) - CORRECT ANS...

BUSI 301 Week 1 Exam Questions With 100% Correct Answers 2024. Laws passed by the federal or a state legislature and either approved or rejected by the executive branch are called - CORRECT ANSWER statutes Most American law derives from this country's legal doctrines - CORRECT ANSWER England Federal statutes are created by the United States _____ and approved or vetoed by the President. - CORRECT ANSWER Congress or legislature A typical business transaction may be impacted by many...

BUSI 301 - Week 2 Written Exam 2024. Civil Litigation - CORRECT ANSWER a dispute resolution process of civil (noncriminal) cases in public courts of law. Dispute Resolution - CORRECT ANSWER A method of handling complaints outside the judicial process through a mediator appointed by the court Arbitration - CORRECT ANSWER settling a dispute by agreeing to accept the decision of an impartial outsider informal settlements/consent decrees - CORRECT ANSWER practical devices to cut across...

BUSI 301 Exam 1 Questions & Answers 2024. an employee hired or appointed within an organization to settle disputes is called an - CORRECT ANSWER ombudsperson violetta voluntarily goes for a ride with alfredo, who is drunk. a court would regard this as: - CORRECT ANSWER the assumption of the risk the tort of false imprisonment protects - CORRECT ANSWER mental and physical interests stare decisis - CORRECT ANSWER lends predictability to decisional law by relying on prior decisions ...