LAW 142 Study Guide - Final Guide: Canadian Business, No Liability, False Advertising
Document Summary
Lesson 9a why and wherefores of business law. A very broad area of law covers contracting, finance, banking, taxation, administrative law, employment, transactional work, and business structures. Canadian business laws tend to be statutory in nature, which is not to say no common law rules are relevant. Statutes reflect government policy, and are often categorized as either being criminal or regulatory. Business statutes tend to be regulatory in nature: criminal law is not often used to regulate business activity. Regulatory laws may be permissive or restrictive: the distinction is evident in business laws, permissive laws allow someone to due something are restrictive laws curtail their ability to due something. Can be permissive like corporations law. Can be restrictive like business activity regulation. Attributes of each business structure: for owners, for managers, to strangers (liability) Both federal government and provincial government permit the creation of corporations .
