AFM231 Chapter Notes - Chapter 2: Political Philosophy, Public Law, Procedural Law

• School: University of Waterloo
• Department: Accounting & Financial Management
• Course: AFM231
• Professor: Valerie B Irie

Document Summary

Impact on business operations: executive branch: government policy and law. Government policy: the central ideas or principles that guide government in its work, including the kind of laws it passes. Constitutional law: the supreme law of canada that constrains and controls how the branches of government exercise power. Liberalism: a political philosophy that focuses on individual freedom as its key value. Canadian legal system: the machinery that comprises and governs the legislative, executive and judicial branches of government. Legislative branch: creates statute law: house of commons and the senate. Jurisdiction: the power that a given level of government has to enact laws. In canada, government power is divided between the central, national authority and the regional authorities. Inferior court: limited financial jurisdiction whose judges are appointed by the provincial government: organized by case, e. g. criminal , civil, family, etc. Judges may strike down legislation if it proves to be unconstitutional: legislative branch has the final decision, bill: proposed legislation.