Blaw 3391 - Study guides, Class notes & Summaries
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BLAW Pleasant Exam 1 TTU Questions With Verified Answers
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BLAW Pleasant Exam 1 TTU Questions With Verified Answers 
Primary Source of Law 
a document that establishes the law on a particular issue, such as constitution, a statute, an administrative rule, or a court decision. 
 
 
Constitutional Law (4 sources of law) 
law based on documents setting forth for the general organizations, powers, and limits of the government. 
 
 
Executive Orders 
Legally binding directive from the president. 
 
 
Treaties 
written agreements by 2 or more countries. 
 
-b...
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BLAW 3391 TTU Exam 2 Questions And Answers (Verified And Updated)
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BLAW 3391 TTU Exam 2 Questions And Answers (Verified And Updated) 
Sole Proprietorship 
Simplest 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 
•Owner receives all profits; pays only personal taxes 
•Easy to create; less costly 
•Flexible decision making 
 
 
Sole Proprie...
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BLAW 3391 Pleasant Exam 2 Questions With Verified Answers
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BLAW 3391 Pleasant Exam 2 Questions With Verified Answers 
One who initiates and assumes the financial risk of a new business enterprise and undertakes to provide or control its management 
Entrepreneur 
 
 
The simplest form of business organization, in which the owner reports business income on his or her personal income tax return and is legally responsible for all debts and obligations incurred by the business. 
Sole Proprietorship 
 
 
You can establish without filing any legal documents. 
...
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BLAW 3391 Pleasant Exam 2 Questions With Verified Answers
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BLAW 3391 Pleasant Exam 2 Questions With Verified Answers 
Entrepreneur 
One who initiates and assumes the financial risk of a new business enterprise and undertakes to provide or control its management 
 
 
Sole Proprietorship 
The simplest form of business organization, in which the owner reports business income on his or her personal income tax return and is legally responsible for all debts and obligations incurred by the business. 
 
 
Sole Proprietorship in TX 
You can establish without fi...
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BLAW 3391 Pleasant Exam 2 Questions With Verified Answers
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BLAW 3391 Pleasant Exam 2 Questions 
With Verified Answers 
One who initiates and assumes the financial risk of a new business enterprise and undertakes to 
provide or control its management - answerEntrepreneur 
The simplest form of business organization, in which the owner reports business income on his 
or her personal income tax return and is legally responsible for all debts and obligations incurred 
by the business. - answerSole Proprietorship 
You can establish without filing any legal do...
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BLAW 3391 TTU Exam 2 Questions With 100% Correct Answers.
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Sole Proprietorship - Answer-Simplest 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 
Sole Proprietorship Disadvantages - Answer-•Owner responsible for a...
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Blaw 3391 Test #1 Exam Questions With Verified Answers 100% Solved
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Blaw 3391 Test #1 Exam Questions With Verified Answers 100% Solved 
Constitutional Law 
1st Source of law - Federal and State Constitutions 
 
 
Executive Order 
Legally binding directive from the president - Ex in 1957 Eisenhower ordered federal troops to enforce the Supreme Court's ruling to desegregate the school system 
 
 
Treaty 
Written Agreement between two or more countries Becomes Legally binding when they are approved by 2/3 of the Senate 
 
 
Statutory Law 
2nd Source of law - the f...
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BLAW 3391 Exam 2 TTU Questions With Correct Answers 100%
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sole proprietorship - business owned and operated by one person 
unlimited liability - legal exposure in which an owner of a business is personally liable for all of the 
debts and obligations of the business 
what is the most popular form of business organization in the US? - sole proprietorship 
sole proprietorship advantages - -easily established 
-no partners or shareholders 
-only pay taxes on income generated 
-all after tax profit stays with the owner 
-minimal government regulation 
sole...
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BLAW 3391 Pleasant Exam 2 Questions With Correct Answers 100%
- Exam (elaborations) • 16 pages • 2024
- Available in package deal
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- $7.99
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Entrepreneur - Answer-One who initiates and assumes the financial risk of a new business enterprise 
and undertakes to provide or control its management 
Sole Proprietorship - Answer-The simplest form of business organization, in which the owner reports 
business income on his or her personal income tax return and is legally responsible for all debts and 
obligations incurred by the business. 
Sole Proprietorship in TX - Answer-You can establish without filing any legal documents. 
1) choose a B...
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BLAW 3391 TTU Exam 2 Questions And Answers (Verified And Updated)
- Exam (elaborations) • 16 pages • 2024
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- $11.09
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BLAW 3391 TTU Exam 2 Questions And Answers (Verified And Updated) 
Sole Proprietorship 
Simplest 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 
•Owner receives all profits; pays only personal taxes 
•Easy to create; less costly 
•Flexible decision making 
 
 
Sole Proprie...
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