GMS 200 Study Guide - Midterm Guide: Professional Liability Insurance, Liability Insurance, Counterclaim

• School: Ryerson University
• Department: Global Management Studies
• Course: GMS 200
• Professor: Ricardo Reyes

Document Summary

Chapter 2: litigation - dispute resolution in court, the risks. Litigation (pg 29: expensive, time consuming, unpredictable, frequently fatal to business relationships. Litigation is therefore rare: basically, a legal person , i. e. an adult, or a corporation, unincorporated organizations are not legal persons. Who can sue and be sued? (pg 29) responsibility: the exceptional case of trade unions, traditionally difficult to sue government. How a lawsuit begins: pleadings (pg 34: pleadings are the documents that identify the issues and clarify the dispute. Limitation period: this is the period of time within which an action must be started, most claims must be started within 2 years from day on which plaintiff discovered or should. Legislation has changed traditional limitation periods. have discovered the cause of action: much shorter periods to sue municipalities or the crown, you should get to a lawyer quickly if you think you have a cause of action.