LAW 122 Chapter Notes - Chapter 1: Equal Protection Clause, Primary And Secondary Legislation, Financial Statement
12 Mar 2014
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Jan 15, 2014: as consumers, we need to be aware of the rules that govern commercial transactions, risk management. Liability insurance or property insurance: exclusion and limitation clauses contractual terms that exclude liability for some acts/losses, or limit compensation available. Doesn"t protect individuals from all risks: risk acceptance accepting the risk, if appropriate. Law is a rule that can be enforced by the courts. Civil law systems trace their history to ancient rome: this means quebec is the only civil jurisdiction in canada. Jurisdiction is a geographical area that uses the same set of laws. Common law systems trace their history to england. Most jurisdictions that were settled by english colonists: rest of canada. Legal wrongs are formally sanctioned: fines of imprisonment. White-collar crimes (committed by people in suits) bribery. Corporate crime (committed by corporation itself) falsifying information on financial statements. Concerned with the rules that apply in private matters.
