Roest Study guides, Class notes & Summaries
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LEGL 2700 ROESSING TEST 1 EXAM 2024 WITH 100% CORRECT ANSWERS
- Exam (elaborations) • 14 pages • 2024
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Law - correct answer made up of rules laid down by state and backed by enforcement 
-written social force 
-mean nothing w/o enforcement 
 
Rule of Law - correct answer -laws are made generally and apply to everyone equally 
-necessary for strong and diverse economies 
-transparency in business 
 
Property - correct answer ownership-allows you to exclude others without your permission 
 
Common Property - correct answer resources like land that multiple people own 
 
Contract Law - corr...
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LEGL 2700 Roessing Test 1 Questions and Answers | Verified & Updated
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JPMorgan and Chase - Answer ️️ During the housing crisis in 2010, JPMorgan and Chase 
didn't let their shareholders in on information that may have impacted their stock decisions. They 
settled a wide array of cases costing more than $20 billion. 
Law - Answer ️️ Brings people together. 
Stated by state and backed up by enforcement. 
Made up of rules. 
Written ad Accessable 
Hammurabi's Code - Answer ️️ The first written set of laws 
Rule of Law - Answer ️️ Laws that apply to eve...
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LEGL 2700 Roessing Exam 2 Questions and Answers
- Exam (elaborations) • 15 pages • 2023
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LEGL 2700 Roessing Exam 2 Questions and Answers 
Promise - Answer ️️ A commitment or willingness to be bound to a contract obligation 
Uniform Commercial Code (UCC) - Answer ️️ The most successful attempt to have states 
adopt a uniform law 
Purpose is to simplify, clarify, and modernize the laws governing commercial transactions 
Goods - Answer ️️ Tangible (touchable), movable personal property 
Bilateral Contract - Answer ️️ Promise in exchange for a promise 
Involves promisor ...
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LEGL 2700 Roessing Exam 2 Questions and Answers | 100% Pass
- Exam (elaborations) • 15 pages • 2024
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Promise - Answer ️️ A commitment or willingness to be bound to a contract obligation 
Uniform Commercial Code (UCC) - Answer ️️ The most successful attempt to have states 
adopt a uniform law 
Purpose is to simplify, clarify, and modernize the laws governing commercial transactions 
Goods - Answer ️️ Tangible (touchable), movable personal property 
Bilateral Contract - Answer ️️ Promise in exchange for a promise 
Involves promisor and promisee 
Usually made to a specific person
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LEGL 2700 Roessing Exam 2 Questions and Answers 2024.
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LEGL 2700 Roessing Exam 2 Questions and Answers 2024. 
Promise - correct answer A commitment or willingness to be bound to a contract obligation 
Uniform Commercial Code (UCC) - correct answer The most successful attempt to have states adopt a 
uniform law 
Purpose is to simplify, clarify, and modernize the laws governing commercial transactions 
Goods - correct answer Tangible (touchable), movable personal property 
Bilateral Contract - correct answer Promise in exchange for a promise 
Involves...
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LEGL 2700 Roessing Test 3 exam 2023 with 100% correct answers
- Exam (elaborations) • 38 pages • 2023
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contract - correct answer -a legally enforceable promise or an exchange of promises 
 
Uniform Commercial Code (UCC) - correct answer --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 - correct answer --involve a promise for promise exchange ( mutual promises) 
-acceptance is before acti...
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LEGL 2700 Roessing Test 2 exam 2023 with 100% correct answers
- Exam (elaborations) • 34 pages • 2023
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property - correct answer -the legal right to exclude others from resources that are originally possessed or are acquired without force, theft, or fraud 
 
private property - correct answer -protects private persons and allows them to exclude others from interfering with resources that are acquired without force, theft, or fraud 
 
public property - correct answer -state's right under various circumstances to exclude people from state monuments, buildings, equipment, land, and other public reso...
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LEGL 2700 Roessing Test 3 Questions and Answers
- Exam (elaborations) • 27 pages • 2023
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LEGL 2700 Roessing Test 3 Questions and Answers
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LEGL 2700 Roessing Exam 2 Questions and Answers 2024.
- Exam (elaborations) • 15 pages • 2024
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LEGL 2700 Roessing Exam 2 Questions and Answers 2024. 
Promise - correct answer A commitment or willingness to be bound to a contract obligation 
Uniform Commercial Code (UCC) - correct answer The most successful attempt to have states adopt a 
uniform law 
Purpose is to simplify, clarify, and modernize the laws governing commercial transactions 
Goods - correct answer Tangible (touchable), movable personal property 
Bilateral Contract - correct answer Promise in exchange for a promise 
Involves...
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LEGL 2700 Roessing Exam 2 Questions and Answers 2024.
- Exam (elaborations) • 15 pages • 2024
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LEGL 2700 Roessing Exam 2 Questions and Answers 2024. 
Promise - correct answer A commitment or willingness to be bound to a contract obligation 
Uniform Commercial Code (UCC) - correct answer The most successful attempt to have states adopt a 
uniform law 
Purpose is to simplify, clarify, and modernize the laws governing commercial transactions 
Goods - correct answer Tangible (touchable), movable personal property 
Bilateral Contract - correct answer Promise in exchange for a promise 
Involves...
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