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Business Law.docx

Law and Business
Course Code
LAW 122
Jane Monro

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Business Law (LAW 122): Exam Review
Chapter One: Risk Management and Sources of Law
Risk Management: Process of identifying, evaluating & responding to legal liability
Most likely harmful events
Risk Avoidance: Avoid risk overall due to serious nature
Ex. Remove dangerous product from market
Risk reduction: Reduce risk to an acceptable level through precaution
Ex. Modify dangerous product to reduce damage
Risk Shifting: Enabling a third party to assume the risk
Ex. Insurance (liability, property)
Exclusion and Limitation clauses
Risk acceptance: Identify and accept risk
Ex. Do nothing
Some business are incorporated
Major benefit = limited liability
Introduction to the legal system
oGeographical areas that use same laws
oRule that is enforced by courts
Civil Law
oA legal system that traces roots to Rome (Used in Quebec)
Public Law
oPublic law is concerned with governments and the ways it deals with citizens
Areas of public law
oConstitutional law:
Ex. Provides basic rules for political and legal systems (same all over Canada)
oAdministrative Law:
Ex. Concerned with: creation and operation of administrative agencies, boards,
commissions and tribunal
oEx. Administrative bodes that affect business:
Federal: Canadian Radio – Television and Telecommunications Commission,
national energy board, competition board
Provincial: Workers compensation board, labour…
Municipal: Zoning and planning board, building and inspections department,
license division
Criminal Law
oEx. Governing offenses against the state, Corporate Crime (Crimes committed by a
company itself), White-collar crime by business persons (same all over Canada)

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Tax Law
oConcerns laws that are used to collect money for public spending
Private Law
Concerned with rules that apply in private matters
oLaw of torts:
Governs private wrongs committed against individuals and organizations
oThe law of contracts
Governs the creation and enforcement of private agreements
oThe law of property
Governs the acquisition, use, disposal property
Sources of law
oBroadly speaking there are three sources
Legislation, the courts, and
The constitution:
Basic rules Canadian society, including its political & legal systems
oCanada is a Federal country
oTwo levels of government
Federal & Provincial
Queen Elizabeth II
oCanada’s head of state
oRepresented in Canada by
Federal level, Provincial Level, Territory
Division of power
oIndicate the areas of authority by each level of government
Residual power
oFederal government retain the authority over everything that is not stated
Section 91 & 92
oLegislation bodies within act 1982
oUltra vires: Beyond the power (government creates a law outside its own area)
Charter of Rights and Freedoms (1982)
oProtect certain rights and freedom against the action of government
oDoes not involve private parties
Reasonable limits
oSection 1: guarantees the rights and freedoms set out in it subject only to:
Such reasonable limits
Prescribed by law
Demonstrably justified in a free democratic society
Charter of Rights and freedoms
Does not apply to private corporations

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Notwithstanding clause: Section 33
oEnables government to override many freedom (Override S.2, S.7 –S.15)
oUnder section 38, you must have 2/3 of provinces, 50% of all provinces together
Charter remedies
oIf charter violated the courts may impose one of the following remedies:
A simple declaration that the charter has been violated
Require the government to act in a certain way
Striking down
The elimination of the statute that violates the charter
Severance, reading down and reading in
Violate element of the statute can be cut out
Damages might be awarded to the plaintiff
oLaw created by parliament or legislature
oLegislative process at the federal level
Bill introduced to House of commons
Receives three readings
If passed, moves to senate receives additional three readings
If it passes readings the bill receives royal assent by governor general
oLegislative process at provincial level
Bill introduced in legislative assembly
Bill receives three readings
If it passes all readings then bill is given Royal assent by the Lieutenant
Subordinate Legislation
oRegulation support the implementation of legislation
oBy laws
oIs a town city district or county
oEnables a province to create of the above
oMunicipalities create by laws
Common law
oThird source of law
oThe higher the court that makes the decision
Parliamentary Supremacy: Judges are required to interpret constitutional & statutory
documents, they must also obey them
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