LAW 122 Lecture Notes - Lecture 1: Ultra Vires, Section 33 Of The Canadian Charter Of Rights And Freedoms, Private Law
18 Oct 2016
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Know your rights; know what law applies to your business so you can make informed decisions. Some things are legal but not ethical. Risk management of legal consequences and opportunities as well as profits and losses (risk management: know what can possibly go wrong and knowing how to respond to it) Always get insurance, regardless of the situation. Law: mandatory rules that a person/business needs to follow or a rule that can be enforced by a court. The difference between a rule and a law is that a court enforces a law. Ethics vs. the law: ethical wrongs may cause reputational harm while legal wrongs will cause legal harm (imprisonment and paying fines, a situation can be weighed ethically (values and principles) or legally (law) The canadian legal system: there are 2 systems of law: civil and common law (+federal law. , jurisdictions: geographical area that applies the same legal system.
