Legl 2700 test 3 exam - Study guides, Class notes & Summaries

Role of Scarcity (property) - correct answer need for resources overtakes supply of those resources State controlled/communism - correct answer govt controls resources and directs how they're divided between citizens; control means of production Property-based/capitals - correct answer enact laws that enable citizens to acquire, possess, use, and transfer resources; free market States generally have a mix - correct answer not purely one or the other Real Property - correct answer la...

LEGL 2700 Roessing Test 3 Exam Questions And Answers contract - answersa legally enforceable promise or an exchange of promises Uniform Commercial Code (UCC) - answers-covers the sale of goods -goods are tangible, movable items of personal property -applies to individuals & firms -uniform state law -Article 2: applies to contracts -Section 207: "Battle of Forms" -> Deal still goes through bilateral contracts - answers-involve a promise for promise exchange ( mutual pro...