Blaw 3391 ttu - Study guides, Class notes & Summaries

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...

Laws - Answer-rules governing relationships among individuals and between individuals and their society. Priorities of Law? (Highest to lowest) - Answer-Federal Constitution Federal Statutes State Constitution State Statutes Local Ordinances Conflict Order of precedence Agencies - Answer-created by legislatures and make their own rules which have the legal force of statutory law. (ex: IRS) Common Law - Answer-- The earliest version of law - Laws adopted when US was a part of Britain ...

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 3391 TTU exam 3 Questions With Verified Answers Sole Proprietorship is the simplest form of business organization. Anyone who does business without creating a separate business entity is a sole proprietor. The owner is the business. The owner pays personal income taxes on all profits and is personally liable for all business debts. Distributorships for example, automobile dealerships Chain-style business operations fast-food chains) Manufacturing or processing-plant arrangements ...

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 3391 TTU Exam 1 Questions and Answers

Laws are rules governing _____________. - correct answer relationships Civil law - correct answer laws governing relationships between individuals Criminal law - correct answer laws governing relationships between individuals and society Priorities of laws - correct answer (In Order) Federal Constitut...

BLAW 3391 TTU Exam 1 Questions With Verified Answers Liability State of being legally responsible (liable) for something. (Ex. debt or an obligation) Primary source of law A document that establishes the law on a particular issue, such as a constitution, a statute, an administrative rule, or a court decision. (constitutions, statues, admin regulations and case law) Secondary source of law A publication that summarizes or interprets the law, such as a legal encyclopedia, a legal treatis...

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...