LAW 534 Lecture Notes - Lecture 8: Mens Rea, Determinative, Mitigating Factor

• School: Ryerson University
• Department: Law and Business
• Course: LAW 534
• Professor: Andre Serero

Document Summary

Deter people from becoming ceos, directors (due to fear of liability scare good people away) Obvious relevance to any person who has a position of significant responsibility or control in an organization. So(cid:373)eti(cid:373)es ha(cid:396)d to fi(cid:374)d (cid:449)it(cid:374)esses to su(cid:272)h a(cid:272)tio(cid:374)s . Harper case is double-edged sword against the defendant. If the individual defendant is sophisticated, higher standard will be expected from that individual. If i(cid:374)di(cid:448)idual defe(cid:374)da(cid:374)t is (cid:374)ot sophisti(cid:272)ated, (cid:272)ou(cid:396)t (cid:272)ould fi(cid:374)d that this i(cid:374)di(cid:448)idual"s conduct did not meet industry standards: basically your level of sophistication/ professionalism is used against you. Key point you"(cid:396)e still lia(cid:271)le e(cid:448)e(cid:374) if (cid:455)ou did(cid:374)"t (cid:862)do a(cid:374)(cid:455)thi(cid:374)g(cid:863), (cid:455)ou si(cid:373)pl(cid:455) (cid:374)eed to autho(cid:396)ize, pe(cid:396)(cid:373)it, o(cid:396) a(cid:272)(cid:395)uies(cid:272)e the(cid:396)e is lia(cid:271)ilit(cid:455) e(cid:448)e(cid:374) if the di(cid:396)e(cid:272)to(cid:396)/offi(cid:272)e(cid:396) the(cid:373)sel(cid:448)es did(cid:374)"t do a(cid:374)(cid:455)thi(cid:374)g. Legislation that governs this is usually limited to directors/ officers. Quebec (autorit des march s financiers) c. souveraine, cie compagnie d"assurance g n rale: