LAW 122 Chapter Notes - Chapter 1: Liability Insurance, Primary And Secondary Legislation, Section 33 Of The Canadian Charter Of Rights And Freedoms

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Identification: recognize legal risks (can we be held liable for this?) Evaluation: assessment of legal risks (what are the chances of something going wrong?) Avoidance: eliminating the risk completely, example: withdrawing a dangerous product from the market. Reduction: minimizing the risk, example: modify a product in order to reduce possible danger. Shifting: making the risk someone else"s problem, example: buy liability insurance for losses caused by danger ( we are not responsible for ) Most significant benefit of incorporation is limited liability. This is where only the company itself, not the directors or shareholders, are held liable for debts. An attorney that is employed exclusively by a business or government department. Instead of hiring lawyers when needed, a company can choose to create its own permanent legal department. Public: concern with governments and the ways in which they deal with their citizens: constitutional law: basic rules of our political and legal systems.

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