[LAW 122] - Midterm Exam Guide - Ultimate 30 pages long Study Guide!

• School: Ryerson University
• Department: Law and Business
• Course: LAW 122
• Professor: Sagi Peari

Document Summary

Factors affect success and failure in business: decision-making e. g. location choice, product, marketing, negative e. g. dumping pollutants into environment, positive e. g. binding contractual party to promise, some decisions impose liability, others create opportunities. Law is a mix of both justice and efficiency. Rules and laws: all laws are rules but not all rules are laws. Morality and law: moral wrongs are informally sanctioned. E. g. damaged friendships or reputation: legal wrongs are formally sanctioned. E. g. fines or imprisonment: law: rules that can be enforced by courts. Civil law jurisdictions: originated in ancient rome. France and most of europe, louisiana, and quebec (only jurisdiction in canada; initially. Common law jurisdictions: borrowed its laws from france) Jurisdiction: a geographical area that uses the same set of laws: common law: systems trace their history to england. England, australia, new zealand, most of canada, united states. Some laws are the same across canada: e. g. criminal laws and constitutional laws.