Management and Organizational Studies 2275A/B Study Guide - Final Guide: Alternative Dispute Resolution, Standard Form Contract, Oral Contract

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 2275A/B
• Professor: Desmond Mc Keon

Document Summary

Do we need to know the exclusions of certain provinces, i. e. in saskatchewan, regarding privity they take this approach, etc. Chapter 1 knowledge of law as a business asset: 4-15. Business law a set of established rules governing commercial relationships, including the enforcement of rights. Protects business ideas and more tangible forms of property. Provides mechanisms that permit business people to select their desired degree of participation and exposure to risk in business ventures. Seeks to ensure that losses are borne by those who are responsible for them. Facilitates planning by ensuring compliance with commitments. Law a set of rules and principles intended to guide conduct in society, primarily by protecting persons and their property, facilitating personal and commercial interactions, and providing mechanisms for dispute resolution. Facilitating interactions: providing rules concerning marriage, adoption and the disposal of property upon the owner"s death, etc, providing rules governing the marketplace, legal rules provide definition and context to doing business.