LAW 122 Study Guide - Midterm Guide: Convenience Store, False Statement, Alternative Dispute Resolution

• School: Ryerson University
• Department: Law and Business
• Course: LAW 122
• Professor: Patricia Hania

Document Summary

Chapter 1 risk management and sources of law. Enforceable: promises that cannot be ignored without any consequences (business world v personal encounters) Legislation precedence: legal case based on judges (what other cases have been heard on that issue) exception/novel case, or legal issue applied apply legal principle (judge-make law or government- federal/provincial level) Principle: apply legal principle (judy to rescue)-no judy in canada. Analysis: legal principle to facts what should be done. Business contract: legal concept that allows people to create enforceable promises. Risk management: process of identifying, evaluating, and responding to the possibility of harmful events business concerns about avoiding losses. Houston"s small businesses dig out from harvey"s onslaught. Hurricane harvey, josh and his fianc set up a gym before the hurricane. We do(cid:374)"t k(cid:374)o(cid:449) ho(cid:449) he set up (cid:894)(cid:449)ith a (cid:396)isk o(cid:396) (cid:374)ot ask someone from the accounting dept. ) (cid:862)a(cid:271)out 99 pe(cid:396)(cid:272)e(cid:374)t of the (cid:272)o(cid:373)pa(cid:374)ies go(cid:448)e(cid:396)(cid:374)(cid:373)e(cid:374)t data. (cid:863)