Pacakge Deal For MIE 305 Final Exam Guide Questions and Answers with Complete Verified Solutions Graded A 2024

What are the Articles of Confederation? - the original constitution of the US, ratified in 1781 (replaced by the US Constitution in 1789) What were the weaknesses of the Articles of Confederation? - 1) Confederate congress was the only national branch of government and it served a limited functio...

MIE305 Exam 2 Verified Questions and Answers Graded A 2024

administrative law - the body of law created by administrative agencies in order to carry out their duties & responsibilities administrative agency - a federal or state government agency established to perform a specific function national/cabinet level agencies - executive agencies -exist wit...

What is law? - the system of rules which a particular country or community recognizes as regulating the actions of its memberss and which it may enforce by the impostition of penalties What is civil law? - no criminal charges, suing, divorcing, all about using the judicial legal power of stat...

Law - A body of enforceable rules governing relationships among individuals and between individuals and their society Liability - The state of being legally responsible for something, such as a debt or obligation Contract Breach - The failure to perform a legal obligation Primary Sources of...

What are the "bundle of rights" associated with property ownership? - 1) Control; 2) Possession; 3) Enjoyment; 4) Exclusion; 5) Disposition Possession - The property is legally owned by whoever owns the title. Control - The titled owner (freeholder) controls the use of the property. E...

When choosing an organizational form, entrepreneurs should consider: - Ease of creation Owners' liability--maximize gain, limit risk of loss Tax considerations--pass through or entity tax? Ability to raise capital--Private funding or shares? Basic forms of Business Organization - Sole propri...

Possession - Bundle of Right that is the right to claim title over the property, one exerts dominion and ultimate power over it Control - Bundle of Right that is the right to decide how the property is to be used, or employed Enjoyment - Bundle of Right that is the means by which the rights-ho...

Real Property - The legal interests in land and things attached to, or growing on land. Personal Property - Referred to generally as chattel, the rights, powers, and privileges a person has in things that are not real property, may be transferred by sale, gift, or will. Chattels Real - An inte...