Legl2700 test 3 - Study guides, Class notes & Summaries

LEGL2700 Test 3 Epstein Exam Questions Complete Solutions Role of Scarcity - Answer -Need for resources outstrips supply of those resources. State Controlled/Communism - Answer -The government controls all resources and directs how they are divided up among citizens. How Private Property establishes necessary conditions for capitalism formation? - Answer -- Loan for a business (put up a house as collateral for example) - Can convert rights in one resource (house) into rights in differe...

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LEGL2700- Roessing Test 3 Questions and Answers (100% Pass)

LEGL2700 Matt Roessing Test 3

LEGL2700- Roessing Test 3 Questions And Answers implied-in-law contract when the law implies a duty on a party to the second even though there is no contract between them "quasi-contract" enforceable contract the court upholds the validity of a promise unenforceable contract a defense exists that denies the legal enforcement of an agreement valid contract an agreement is enforceable because all the essential requirements are present void contract an agreement that lacks an esse...

LEGL2700 Matt Roessing Test 3 Questions and Answers property - Correct ️️ the legal right to exclude others from resources that are originally possessed or are acquired without force, theft, or fraud private property - Correct ️️ a system of law under which the state recognizes and enforces an individual's rights to acquire, possess, use, and transfer scarce resources capital formation - Correct ️️ quality of resources that produces new or different resources mortgage - Correc...

LEGL2700- Roessing Test 2 property - Answer ️️ the legal right to exclude others from resources that are originally possessed or are acquired without force, theft, or fraud private property - Answer ️️ a system of law under which the state recognizes and enforces an individual's rights to acquire, possess, use, and transfer scarce resources capital formation - Answer ️️ quality of resources that produces new or different resources mortgage - Answer ️️ lenders are willing t...

property - Correct ️️ the legal right to exclude others from resources that are originally possessed or are acquired without force, theft, or fraud private property - Correct ️️ a system of law under which the state recognizes and enforces an individual's rights to acquire, possess, use, and transfer scarce resources capital formation - Correct ️️ quality of resources that produces new or different resources mortgage - Correct ️️ lenders are willing to loan money at afforda...