Bgen 361 exam 1 - Study guides, Class notes & Summaries

The most common *business entities* (6) - correct answer -1. Sole proprietorship 2. general partnership 3. limited partnership 4. corporation 5. limited liability company 6. limited liability partnership *Sole Proprietorship* (11/ownership, creation, taxation, representation, control, transaction, popularity, liability, responsibility, transferability, life, ability to raise capital) - correct answer -1. owned and operated by one person 2. Ease to create (only purchasing a business lice...

Common Law - correct answerWhen a dispute arises regarding issues where there is no statute, the court controls the issue until legislature adopts a statute. Criminal Law - correct answerDeals with wrongs committed against society. Civil Law - correct answerDeals with privately enforceable rights and duties between parties. How many courts of appeals are there? - correct answer13 What is Montana's Circuit Court? - correct answer9th (San Francisco) % of cases heard by Supreme Cour...

BGEN 361 Ch. 5 Review Practice Exam Questions. Federal Rules of Civil Procedure (FRCP) - CORRECT ANSWER The rules controlling procedural matters in civil trials brought before the federal district courts. Stages in a typical lawsuit - CORRECT ANSWER 1. accident, branch of contract, or other event 2. the party hires a lawyer, who files a complaint and notifies (serves) the defendant 3. defendant's attorney files an answer or a motion to dismiss 4. pretrial discovery and more motions, ...

BGEN 361 Ch. 2 Study Guide Exam Questions. federal form of government - CORRECT ANSWER A system of government in which the states form a union and the sovereign power is divided between a central government and the member states. Sovereignty - CORRECT ANSWER The quality of having independent authority over a geographic area. For instance, state governments have the authority to regulate affairs within their borders. police powers - CORRECT ANSWER Powers possessed by states as part of ...

BGEN 361 Ch. 3 Study Exam Questions Correctly Answered. ethics - CORRECT ANSWER Moral principles and values applied to social behavior. business ethics - CORRECT ANSWER Ethics in a business context; a consensus of what constitutes right or wrong behavior in the world of business and the application of moral principles to situations that arise in a business setting. moral minimum - CORRECT ANSWER The minimum degree of ethical behavior expected of a business firm, which is usually defin...

Common Law - correct answer When a dispute arises regarding issues where there is no statute, the court controls the issue until legislature adopts a statute. Criminal Law - correct answer Deals with wrongs committed against society. Civil Law - correct answer Deals with privately enforceable rights and duties between parties. How many courts of appeals are there? - correct answer 13 What is Montana's Circuit Court? - correct answer 9th (San Francisco) % ...