LAWS 1000 Lecture Notes - Lecture 11: Caveat Emptor, Child Protection, Institute For Operations Research And The Management Sciences
Document Summary
*i apologize for not adding many extra notes for this lecture prof was pretty straightforward in the slides. Review: regulating relationships: (relationship between the economic structures of a society and the type of law and legal system that will be part of this) Interdependence constrains but introduces instability: how do we control the instability and encourage calculability, what is it about the market system that makes coercion necessary, coercion is necessary because self-interest is limitless, legal coercion is necessary to predictability. In canada, like the rule of law. Formal equality=factual autonomy of elites: donoghue v. stevenson, rudder v. microsoft, childs v. desormeaux. Since contracts do in fact harm business relationships considering normative relationships. Two widely accepted norms in business: commitments are to be honoured in all situations; don"t welch" on a deal if you make a commitment you see through it, make a good product and stand behind it.
