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LAW 122 (625)
Chapter 1


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Law and Business
LAW 122
Asher Alkoby

CHAPTER ONE: RISK MANAGEMENT AND SOURCES OF LAW RISK MANAGEMENT: THREE STEPS (PG. 3) PUBLIC LAW (PG. 8-10) 1. Identification: “Can we be held liable for doing something wrong?” Definition: Concerned with gov’t and ways in which they deal with 2. Evaluation: “What are the chances something goes wrong?” their citizens 3. Response: “What are we going to do about it?” A. Constitutional Law • Basic rules of our political and legal systems • Establishes: fundamental rights and freedoms RISK MANAGEMENT: FORMS (PG. 4-5) • Job: create and enforce laws (a) Risk Avoidance: eliminating B. Administrative Law • For high risk situations; remove dangerous product • Creation and operation of administrative agencies, boards, (b) Risk Reduction: minimizing • Modifying product to reduce danger commissions and tribunals • Example: HR tribunal deciding X corporation (c) Risk Shifting: make the risk someone else’s problem discriminated against women through lower pay • Liability insurance for losses caused by danger C. Criminal Law (d) Risk Acceptance: choose to live with the risk (do nothing) • Deals with offenses against state Others: • Concerned with those who break Insurance, Exclusion and limitation clauses, incorporation • White-collar and corporate crimes D. Tax Law • Rules used to collect money for public spending NATURE OF LAW SOME DEFINITIONS (PG 7) PRIVATE LAW (PG. 10-11) Law: rule enforced by courts Jurisdiction: geographical area that Definition: rules that apply in private manners Example: no “duty to rescue” uses the same set of laws Also apply to government (ie. Entering private transactions) Common Law: traces to England Possible: private person to sue public body LAW VS. MORALITY Civil Law: traces to Ancient Rome A. Law of Torts • Tort: private wrong; an offence against a specific person Moral wrongs: informally i. Intentional (ie. Assault and false imprisonment) sanctioned Ex: Losing rep/friends ii. Business (ie. Deceit and conspiracy) Legal wrongs: formally iii. Negligence (ie. Carelessly hurting another) sanctioned B. Law of Contracts Ex: imprisonment/fine • Creation and enforcement of agreements i. Sale of goods ii. Negotiable instruments (ie. Cheques) iii. Real estate transactions (ie. Buying land) TWO APPROACHES TO LEGAL INTERPRETATION 1. Textual Approach: focus on wording of law; no need to look outside of iv. Operation of corporations the document v. Employment relationship C. Law of Property 2. Purposive Approach: focus on legislature’s intentions • Acquisition, use and disposition of property • Determine statute’s purpose and read in best way to achieve i. Real that purpose ii. Personal iii. Intellectual CANADIAN LEGAL SYSTEM: THREE SOURCES OF LAW CHARTER OF RIGHTS AND FREEDOMS (PG.14-17) Source #1: The Constitution (PG.12) Written into the Constitution and passed in 1982 Definition: basic rules for legal and political systems Purpose: protect the basic rights and freedoms of Canadians 1) Difficult to amend Job: ensure any legislation passed does not violate these protected rights. • Amending formula: requires consent of both parliament A. Fundamental Freedoms (PG. 15) and 2/3 of all provinces with at least 50% of population B. Mobility Rights (PG. 15) 2) Highest source of law in Canada C. Equality Rights (PG. 15) • Section 52 states “Any law inconsistent with Constitution has no force or effect” Limitations (PG.16-17) I. Property Rights (to own and enjoy assets) II. Economic Rights (to carry on business activities) DIVISION OF POWERS: CANADA AND FEDERALISM (PG.12) Federal country; two constitutionally recognized levels of III. Government Action government: IV. Corporations 1) Federal government
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