LAW 122 Chapter Notes - Chapter 1: Tax Law, Private Law, Public Law
11 Feb 2016
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Chapter 1: risk management and sources of law. Risk management: the process of identifying, evaluating and responding to the possibility of harmful events. The goal is not to eliminate risks, but manage them: risk avoidance, risk reduction, risk shifting (shift onto another party, risk acceptance. 5: exclusion and limitation clauses ( contracts) A law is a rule that can be enforced by the courts. A jurisdiction is a geographical area that uses the same set of laws. Public law: is concerned with government and the ways in which they deal with their citizens: constitutional law, administrative law, criminal law, tax law. Constitutional law provided the basic rules of our political and legal systems. Administrative law: concerned with the creation and operation of administrative agencies, boards, commissions and tribunals. E. g. a company discriminating by paying women less than it pays men. Criminal law deals with the offences against the state: white collar crimes- committed by people in suits.
