LAW 122 Lecture Notes - Lecture 1: Public Law, Parliamentary Sovereignty, Section 33 Of The Canadian Charter Of Rights And Freedoms
5 Feb 2016
School
Department
Course
Professor
Document Summary
Why study law: business choices have legal consequences, legal factors affect profit and business, law affects making decisions. Risk avoidance some risks can be avoided all together. Removing a nonfunctional car out of the market. Risk reduction- some risks can be reduced to an acceptable level through precautions. Bank lends 500,000 to a company but realizes it won"t get its money back if recession hits. To avoid that the bank grants a mortgage instead, so if they do not get the money they will at least get the property. Risk acceptance: it is sometimes appropriate to simply accept a risk. Ex: a golf course operates behind a company. It is a possible risk that a golf ball might hit a factory window. Risk shifting: even if a risk cannot be avoided or reduced, it may be shifted onto another party. Those sales are created by contracts, and those contracts often contain exclusion and limitation clauses.
