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LAW 122 NOTES.docx

Law and Business
Course Code
LAW 122
Theresa Miedema

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LAW 122 Lecture 1 01/13/2014
Types of Risk Management
Risk Avoidance
Risk Reduction
Risk Shifting (Insurance companies, Independent contractors, waivers, Incorporation)
Risk Acceptance
A corporation is a legal entity (person)
What is Law?
Law is a set of principles.
Steps to legal reasoning
-Identify the issue
-State the Law in the abstract (just the principle without any reference)
-Transition to the fact (What are you trying to say)
-Apply the law (the connection between the principle and the transition to the fact) Legal principle +
Facts = Conclusion
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