LAW 534 Lecture Notes - Lecture 5: The Old Law, Business Judgment Rule, Corporate Liability

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

Document Summary

Chapter 5: the changing face of corporate and organizational criminal liability. Chapter is about criminal liability for corporations as well as other organizations. Note b- c note bill c-45 (amendments to the federal criminal code) is now law although the textbook will often refer to its provisions as bill c-45 anyway. Criminal liability is different from civil liability: risk of jail, higher consequences, greater negative stigma, when convictions occur government gets the money. Criminal liability is also different from piercing the corporate veil. Also remember: the corporation and responsible individuals can both be held (cid:272)(cid:396)i(cid:373)i(cid:374)all(cid:455) (cid:396)espo(cid:374)si(cid:271)le (cid:894)(cid:374)ot (cid:862)eithe(cid:396)/o(cid:396)(cid:863)(cid:895) Corporation a legal fiction (a legally (cid:272)(cid:396)eated (cid:862)pe(cid:396)so(cid:374)(cid:863) disti(cid:374)(cid:272)t f(cid:396)o(cid:373) its sha(cid:396)eholde(cid:396)s, etc. ) Criminal liability (cid:862)(cid:373)e(cid:374)s (cid:396)ea(cid:863) (cid:396)e(cid:395)ui(cid:396)ed i(cid:374) additio(cid:374) to a(cid:272)tus (cid:396)ea. Mens rea is often indicated by key words like; intentionally, deliberately, calculated. Board of directors (can be the same people as officers and shareholders) Understand this comparative big picture ** exam/ fundamentals.