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ADM3360 Midterm: Review for Midterm 1.docx

Course Code
ADM 3360
Gilles Le Vasseur
Study Guide

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ADM3360 Midterm
Covers Chapters 1,2,3,4,13,14.
3 Development Questions
Each question will take 3-4 pages.
( Missing lectures sept 11, sept 16, sept 18, sept 30).
Chapter 1: Knowledge of Law as a Business Asset
Business Law:
Define general rules of commerce.
Protects business ideas.
Seeks to ensure that losses are borne by those who are responsible for them.
Facilitates planning by ensuring compliance
Rules and principles
The law is a set of rules and principles guiding conduct in society.
-Protecting persons and their properties
Breach of Contract: Failure to comply with a contractual promise.
-Facilitating Interactions
Age of majority: The age at which a person becomes an adult for legal purposes. In
Canada, this ranges from 18 to 19 years of age, depending on the province.
Contract Law: Rules that make agreements binding and therefore facilitate planning and
the enforcement of expectations.
Litigation: The process involved when one person sues another.
-Providing Mechanism for Dispute Resolution
Mediation: A process through which the parties to a dispute endeavour to reach a
resolution with the assistance of a neutral person.

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ADM3360 Midterm
Arbitration: A process through which a neutral party makes a decision (usually biding)
that resolves a dispute.
Liability: Legal responsibility for the event or loss that has occurred.
- Knowledge of the law as a business asset
Legal Risk Management Risk: a comprehensive action plan for dealing with legal risks
involved in operating a business.
-Law and Business Ethics
Business Ethics: Moral principles and values that seek to determine right and wrong in
the business world.
Chapter 2 – The Canadian Legal System
Business in practice
Statement of Claim: a document setting out the basis for a legal complaint
The Canadian legal system, which regulates government is comprised of 3 branches:

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ADM3360 Midterm
1. Legislative Branch: creates laws in the form of statutes and regulations
Statute Law – formal, written laws created or enacted by the legislative branch
Jurisdiction – the power that a given level of government has to enact laws
Exclusive Jurisdiction: that one level of government holds entirely on its own and is not on a
shared basis with another level. EX: federal government with regards to criminal law.
Concurrent Jurisdiction: that is shared between levels of government
Paramountcy – a doctrine that provides that federal laws prevail when there are conflicting or
inconsistent federal and provincial laws.
Bylaws – laws made by the municipal level of government.
2. Executive Branch: formulates and implements government policy (the central ideas or
principles that guide government in its work, including the kinds of laws that it passes)
Formal Executive – responsible for the ceremonial features of government
Political Executive – responsible for day-to-day operations, including formulating and excuting
government policy, as well as administering all departments of government.
3. Judicial Branch: adjudicates on disputes.
Judiciary – a collective reference to judges, those appointed by federal and provincial
government to adjudicate on a variety of disputes, as well as to preside over criminal
The System of Courts
Inferior Courts: a court with limited financial jurisdiction whose judges are appointed by the
provincial government.
Small Claims Court: a court that deals with claims up to a specified amount
Superior Court: unlimited financial jurisdiction whose judges are appointed by the federal
Supreme Court of Canada: final court for appeals in this country
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