LAW 525 Lecture Notes - Lecture 1: Class Action, Consumer Product Safety Act, Ultra Vires

• School: Ryerson University
• Department: Law and Business
• Course: LAW 525
• Professor: Nick Innazzo

Document Summary

1st midterm = open books, 1/1/2 hours, 30%, chapter 1-4 (mostly 2-4) 2nd midterm = open books, 1/1/2 hours, 30%, chapter 5-8. Final exam = 40%, open books, 2 hours, cumulative, must pass to pass the course. Protect buyers/consumers too expensive costs pressed down to consumer. Courts too expensive, too time consuming, no guarantees. Encourage businesses to find loopholes (circumvent the rep) Consumer knowledge level business will move out of canada. Set minimum standards to avoid the problems too (cid:373)uch legislatio(cid:374) ca(cid:374) lead to (cid:862)falli(cid:374)g through cracks(cid:863) Exploitation of employees (avoid/prevent) lose jobs, capital, and talent. Health and safety market takes care of itself. 3 phases: pre-transaction, actual transaction, post- transaction. Tort + contract law = courts (common law) Inter-firm sales arrangements hire agents to market, distribute network. Consumer information is used how the information gave to the business is used.