LAW 122 Chapter Notes - Chapter 1: Property Insurance, Uptodate, Ultra Vires
12 Feb 2014
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Document Summary
As consumers, we all need to be aware of the rules that govern commercial transaction. In terms of employment, you may intend to work in the public sector, thus you need to understand not only the nature of gov"t org. , but also the different types of laws that may affect you. Every business decision or choices has a legal consequence. Some consequences are profitable while others maybe financially disastrous. The difference between winning & losing in the business world often depends upon the ability to make the right choice from a legal perspective. Risk management: risk management is the process of identifying, evaluating, and responding to the possibility of harmful events. a) Identification: for e. g. if you accuse your ex-employee of theft, she can sue you for defamation (that"s the risk): evaluation: after identifying the risk, you may decide that a candid letter would nevertheless be legally acceptable.
