LAW 122 Chapter Notes - Chapter 1: Personal Property, Liability Insurance, White-Collar Crime
21 Aug 2014
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Insurance clause: a contract in which one party agrees, in exchange for price, to pay certain money if another party suffers damage or loss: liability insurance: provides benefit if purchaser is held liable for doing something wrong, property insurance: provides benefit if purchaser"s property is damaged, lost, or, exclusion/limitation clause: contracting terms that exclude liability for certain types of destroyed. acts and limit the amount of compensation available. Creates the basic rules for canadian society in regards to federal and political legal systems: every law in canada must compatible with the constitution, the constitution is very difficult to change, amending formula: a formula used to change the constitution that requires the consent of the parliament and of at least 2/3rds of the provinces with over 50% of the nations population, canada is a federal country with two levels of government, federal: the parliament of canada that governs the country as a whole.
