LAW 122 Lecture Notes - Lecture 1: Property Law
7 Feb 2018
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Risk: various factors affect success and failure in business, decision-making: location choice, product, marketing, business decisions have legal consequences, negative: dumping pollutants into environment, positive: binding contractual party to promise, legal factors affect profits and losses, liabilities/opportunities. Risk management: risk, identify: who is liable and why, evaluate: probability of risk, respond: manage risk, law, fixes liability, determines when and how much, considers whether you mitigated or managed properly. The nature of law: a set of principles and rules that courts will enforce, a way of thinking (or reasoning) about these principles and rules. It is not just the result of a case (who won?) that matters. The reason for the result are where law happens: law is bound up in the reasoning, important to ask why" and how," not just who won". Morality (not the same thing: law: formally sanctioned, morality: informed sanctioned.
