BLAW 3310 EXAM 3 QUESTIONS AND ANSWERS 2026
1. Sole Proprietorship: A business owned by one person who is not organized as a corporation
2. Trade name: a word or symbol that has become suflciently associated with a product over a period of time
that it has lost its primary meaning and has acquired a secondary meaning; once so established, the company has a
right to bring a legal action against those who infringe on the protection provided the trade name
3. Respondeat Superior Liability: doctrine of vicarious liability under which an employer is held liable for
the wrongful acts of employees committed within the scope of their employment
4. General partner: a partner in a limited partnership or any partner in a general partnership who accepts,or
has imposed by law, personal liability for all debts of the partnership
5. General Partners: share control over the business's operations and profits
6. Forming a partnership: may begin with an oral agreement between two or more persons to do business as
partners or begin by an implied agreement that may be inferred from the conduct of the partners as they do business
together.
7. Norris vs Besel: 261
8. dissolution: The process of terminating or winding up a corporation or partner that changes the nature of the
organization or ends it completely. This may come about involuntarily, such as through forced bankruptcy, or may be
voluntary, as when a board of directors approves the end of the life of a company.
9. Limited partnership: a business organization consisting of one or more general partners, who manage
and contribute assets to the business and who are personally liable for the debs of the business, and one or more
limited partners, who contribute assets only and are liable only up to the amount of that contribution
10. Limited Partner: a partner in a limited partnership whose liability for partnership debts is limited to the
amount of their contributions to the partnership.
11. Eagles Landing case: 264
12. Corporations: a business organized under the laws of a state that allow an artificial legal being to exist for
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, purposes of doing business in its name
13. Corporate Charter: a certificate issued by a state government recognizing the existence of a corporation
as a legal entity; it is issued automatically upon filing the information required by state law and payment of a fee.
14. articles of incorporation: a written legal document that defines ownership and operating procedures and
conditions for the business
15. Creating a corporation: -Filed with the Texas secretary of State
-300 filing fee
-Name and address of the corporation
- Name and address of the corporation's registered agent
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1. Sole Proprietorship: A business owned by one person who is not organized as a corporation
2. Trade name: a word or symbol that has become suflciently associated with a product over a period of time
that it has lost its primary meaning and has acquired a secondary meaning; once so established, the company has a
right to bring a legal action against those who infringe on the protection provided the trade name
3. Respondeat Superior Liability: doctrine of vicarious liability under which an employer is held liable for
the wrongful acts of employees committed within the scope of their employment
4. General partner: a partner in a limited partnership or any partner in a general partnership who accepts,or
has imposed by law, personal liability for all debts of the partnership
5. General Partners: share control over the business's operations and profits
6. Forming a partnership: may begin with an oral agreement between two or more persons to do business as
partners or begin by an implied agreement that may be inferred from the conduct of the partners as they do business
together.
7. Norris vs Besel: 261
8. dissolution: The process of terminating or winding up a corporation or partner that changes the nature of the
organization or ends it completely. This may come about involuntarily, such as through forced bankruptcy, or may be
voluntary, as when a board of directors approves the end of the life of a company.
9. Limited partnership: a business organization consisting of one or more general partners, who manage
and contribute assets to the business and who are personally liable for the debs of the business, and one or more
limited partners, who contribute assets only and are liable only up to the amount of that contribution
10. Limited Partner: a partner in a limited partnership whose liability for partnership debts is limited to the
amount of their contributions to the partnership.
11. Eagles Landing case: 264
12. Corporations: a business organized under the laws of a state that allow an artificial legal being to exist for
1/
11
, purposes of doing business in its name
13. Corporate Charter: a certificate issued by a state government recognizing the existence of a corporation
as a legal entity; it is issued automatically upon filing the information required by state law and payment of a fee.
14. articles of incorporation: a written legal document that defines ownership and operating procedures and
conditions for the business
15. Creating a corporation: -Filed with the Texas secretary of State
-300 filing fee
-Name and address of the corporation
- Name and address of the corporation's registered agent
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11
