LAW 122 Lecture Notes - Lecture 1: Petty Cash, Ultra Vires, Section 33 Of The Canadian Charter Of Rights And Freedoms
25 Feb 2020
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Law122 chapters 1: risk management and sources of law. Why it"s important for businesspeople to study law: as consumers, we all need to be aware of the rules that govern commercial transactions b/c business choices has legal consequences. Risk management = is the process of identifying, evaluating, and responding to the possibility of harmful events. Example: one of your ex-employees is hoping to join another company. She has asked you to write a reference letter on her behalf. She obviously does not know that you have a very low opinion of her, largely because you believe that she stole money from your business. Furthermore, since the company that she wants to join is one of your best customers, you are tempted to write a candid letter: identification. If you accuse an ex-employee of theft, you can be sued, if don"t write the letter you can be held liable for reducing the ex-employees job prospects: evaluation.
