Step 1: Statement - The Law of Dominance states that in a pair of dissimilar factors (alleles), one member of the pair dominates (dominant) and the other fails to express itself (recessive).
Step 2: Example - Crossing a homozygous Tall ($TT$) pea plant with a homozygous Dwarf ($tt$) plant.
Step 3: Result - In the $F_1$ generation, all plants are Tall ($Tt$). Although both factors are present, the 'Tall' trait dominates the 'Dwarf' trait.