Bul 3310 exam 2 - Study guides, Class notes & Summaries

Tort → A wrongful act committed by one person against another person or his or her property Negligence → Failure to do that which an ordinary, reasonable, prudent person would do, or the doing of some act that an ordinary, prudent person would not do Strict liability → The doctrine under which a party may be required to respond to tort damages, without regard to that party's fault Compensatory damages → A sum of money the court imposes on a defendant as compensation for the...

BUL 3310 Business Law Exam 4 Questions and Approved Answers | Latest 2023/2024 Partnerships typically buy life insurance policies on each partner in order to fund the required purchase of the partner's interest in the partnership when the partner dies T/F - True Subchapter S corporation will avoid double taxation if which of the following applies? A. All the shareholders agree to be taxed as in a partnership B. The corporation files Articles of Partnership in the state where it has its pr...