BU231- Midterm Exam Guide - Comprehensive Notes for the exam ( 18 pages long!)

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Managing risk: assessing potential legal risks that businesses face, determining methods to reduce that risk (prevention, devising strategies to cope with legal issues when they arise (resolution options) The legal system in canada: common law vs. civil law (we use common law in ontario) Means most laws aren"t written down on paper it comes from the judge: federal vs. provincial constitution act, 1982 - charter of rights and freedoms. Sets out what the federal government and the provincial governments are allowed to legislate. No laws are allowed to violate the charter of right of freedoms but does not apply to private sector: statute (higher law than common law, judges cannot violate statute laws) Judge made law - stare decisis (means old law aka judges decisions) History: organic nature of law, law is logical, it has a basis. Tort law: personal injury, compensation for harm done.

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