3 October 2013, Thursday
Law Class Notes
Supply Chain management
There is a list of key obligation professional needs to meet
1. Maintain expertise in knowledge (professional training)
Note: As soon as you have the letters nothing else matters, if you going to go
into the field. And have to
2. Required to compile with professional obligation. Required to maintain
professional dues payments and training. If there is one thing that you don’t
want is not pay your dues that is that they can revoke your license it forces
Problem: a lot of people don’t have the means or the money. This can become
risky if you don’t pay dues so cant pay insurance. In Ontario 1 out 7 who’s
driving and not paying their license.
In certain medical field: example: doctors specialized in delivering babies on
average 20,000 per year for their insurance.
Entitled to one annual meeting for your professional meeting. One trip a year
any destination. It’s tax deductible.
If you are smart you can get a credit card.: maple leaf is an American credit
card get insurance that can give you access to the lounge.
Everything is connected, tax people etc.
3. Professionals have a duty to comply with the professional code of conduct.
The profession itself defines code of conduct. It means it will tell you what are
the ethical considerations that you need to meet.
In accounting is you need to report any wrong doing that your peers are doing.
Cant cheat on rules have to report even your peer is your friend
The guy is taking cocaine what are the friend consequences. He has to cash
out. Is it actually cocaine? Give warning. Give him 24 hours no more drugs.
Tolerance is zero.
IN my third year of law I had a class Thursday afternoon 9 guys in the law
class regularly sniffing coke before the class they were always using laser
blades when I did my bar exams a year later (CBC archives) the university
would give it and take it safely. The exam was stolen. Watch the TV show on
TV on CBC. a group of students were going to blow up the safe to steal the
exam…. These were colleges some people who actually did the jobs. They can
hurt them so they didn’t say anything.
2 years ago one of the buddies was watching porn the other guys were saying
what do we do? So just block the sites. Went to McDonalds for lunch they
were asking me for advice. How do you know there is no illegal porn is not
downloaded? Make sure there is an IT guy check if it’s illegal then
You have a duty to report wrongdoing. You can’t sleep with your clients.
You will try to make an extra gesture to actually please someone. Once the
relationship is over then you can. You have to play by the rules of conduct
(ethics). When you are appointed in a law so you are appointed in a different city to make sure that you don’t mingle with people you know in
your professional field.
4. Fiduciary responsibility: duty to work in the best interest of clients. Duty to
serve first the client avoids any form of conflict of interest. Make sure you
provide most independent advice for the client.
a) You can’t serve two masters.
b) You need to tell the client all the information.
Facts may be harsh but they allow people to make decisions right away.
Example: Doctor who tells people about their cancer Sometimes when I tell
them 6months or a year. But when you say 46 weeks.
Last lecture book of a professor at Carni melon. In an American university you
retire by giving a last lecture. He explained about he knows hes dying in 6
months. He talked about his childhood dreams. Whats the point?
Don’t try to hide thing or sugar coat things.
5. Duty of confidentiality: only you will have access to that information
(knowledge). It means out their people will tell you something but you can’t
act upon it.
You guys would have power of information.
Example: I WAS teaching an MBA class 1213 years ago there was a student.
There was an accountant for corell, which was going through difficult time.
Suddenly people to start talk about Microsoft blah blah… He actually was
working on their books. …During a discussion then the person said corells
report is going to be optimistic.
Example: In Ottawa: a civil servant was doing a policy of doing family trust.
Government was to announce but he sold his shares of family trust.
If and only if that can cause harm to others then you can release it.
Last term: I had 4 courses in the university. This guy was in 2 of the classes.
On Thursday morning sees a career counselor in the university talks about his
midterm and had a difficult time. He told them that he’s going to actually
going to home get his shotgun shot his proff and colleges. University calls the
police on Sunday morning. Then they went to his house and found shotguns,
There is a duty to protect students. When someone says to you they are going
to Threat College first.
What’s your reaction?
I wasn’t going to come to class.
This individual got arrested in 2010. Found a loaded rifle in the back seat.
Case is dropped because the cops didn’t have the charter of rights.
6. Privilege of information is fundamentally important. If there is something that
you release then the professional need to be able to meet that.
People become innocent in their conversation. Can’t say anything cant
mention anything. In the system people become friends they actually mention
Example: 7. Responsibility in Court:
Professional has a duty to work at the highest professional level.it means they
have to work at the required expertise of the moment. What does that involve?
Involves the fact that to meet the norm of 2013. If you giving advice it’s the
most current information.