MCS 3040 Chapter Notes - Chapter 1: Corporate Law, Personal Information Protection And Electronic Documents Act, Sentenced

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Law$in$the$Business$Environment:
Business)law:
defines)general)rules)of)commerce
protects)business)ideas)and)more)tangible)forms)of)property
provides)mechanisms)that)permit)businesspeople)to)select)their)desired)
degree)of)participation)and)exposure)to)risk)in)business)ventures
seeks)to)ensure)that)losses)are)borne)by)those)who)are)responsible)for)
them
Facilitates)planning)by)ensuring)compliance)with)commitments
Law)is)an)asset)to)business)although)somebody)does)not)need)to)comprehend)
the)law)to)conduct)business,)they)will)inevitably)do)so)to)their)own)detriment
Used)phishing)attempts)to)gain)users)personal)information)and)inundate)
them)with)advertisements)concerning)marijuana)and)'adult')products
Sentenced)to)pay)$873M)in)damages)to)Facebook)in)2008
The)creation)of)certainty)and)stability)in)business)relationships)is)one)of)the)
most)important)contributions)that)law)can)make)to)the)commercial)arena
It)also)provides)mechanisms)for)dispute)resolution)although)almost)
always,)businesses)try)to)avoid)going)as)far)as)bringing)their)legal)matters)
to)the)court)in)order)to)reduce)costs
§
Mediation/arbitration)exist)as)two)avenues)outside)of)the)court
Protecting$Persons$and$their$property:
Businesses)are)legally) required)to)adequately)protect)their)customers')
information)due)to)Canada's)!"#$%&'()*&+%#,'-.%&)!#%-"/-.%&)'&0)1("/-#%&./)
2%/3,"&-$)4/-)5!*!1246
This)is)a)legislation)passed)by)the)federal)government
States)that)organizations)can)only)collect,)use,)or)disclose)personal)
information)'by)fair)and)lawful)means')and)only)with)the)consumer's)
consent,)and)only)for)the)purposes)'that)are)stated)and)reasonable'
Gives)consumers)the)option)of)making)a)complaint)to)the)Privacy)
Commissioner)578%).$).&0"9"&0"&-)+#%,):%;"#&,"&-6
The)Law)5.&):"&"#'(6 protects)members)of)society)by:
i. Setting)rules)with)penalties)in)order)to)encourage)compliance
ii. Seeks)to)hold)those)who)break)the)law)accountable)for)their)misconduct
The)also)protects)businesses)by)setting)penalties)and)ensuring)
accountability)5"<=)*+)>3$.&"$$)4),.$'99#%9#.'-"$)'&%-8"#)?3$.&"$$@$)(":'((A)
9#%-"/-"0)/%,,"#/.'().0"'B)-8")('7)/'&)/"&$3#")-8'-)/%&03/-6
Age$of$Majority:
The)age)at)which)a)person)becomes)an)adult)for)legal)purposes
Contract$Law:
Rules)that)make)agreements)binding)and,)therefore,)facilitate)planning)and)the)
enforcement)of)expectations
Liability:
Legal)responsibility)for)the)event)or)loss)that)has)occurred
(Chpt.'1)'"Knowledge'of'Law'as'a'Business'Asset"
Monday,)January)9,)2017
8:34)AM
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