Textbook Notes (368,241)
Canada (161,733)
MGSC30H3 (57)
H Laurence (33)
Chapter 6

Chapter 6 Notes

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Department
Management (MGS)
Course
MGSC30H3
Professor
H Laurence
Semester
Fall

Description
Chapter 6 Special Tort Liabilities of Business Professionals NotesThe Professional y a professional is a person who possesses special knowledge or exercises special skills not normally possessed by most individuals y the possession of these skills distinguish the professional from other business persons or service providers in the sense that the person who engages the services of the professional will normally rely on the professionals expertise to perform services that they cannot or do not wish to perform themselves y one of the difficulties in the establishment of the professional status of these emerging professions is the recognition and determination of professional standards for their skills y in most cases professional recognition requires the creation of a professional body to establish these skill standards with the authority to enforce adherence by those who wish to acquire and use the professional designation Professional Standards and Professional Associations y legislatures have passed legislation for the establishment of professional associations to control and regulate their members y these duties include the oversight of training and education of potential members to ensure that they meet a competence level to practice the profession to ensure that competence levels are maintained and to discipline members who fail to maintain the standards of competence or the standards of the association y professional associations are normally given the authority to limit the use of the professional designation to individuals who are members in good standing in the association and to take action under the legislation to prevent anyone not a member in good standing from holding himselfherself out to the public as a particular professional or offering the professional services to the public y the right of the association to bar a member from practicing the profession also acts as a powerful incentive for a member to maintain the standards of the profession in his or her dealings with the public as expulsion from the association would probably have a devastating effect on the professionals career The ProfessionalClient Relationship Fiduciary Duty of Care y the fiduciary duty on the part of the professional is to place the interests of the client above his or her own and to avoid any conflict of interest with those of the client y a fiduciary duty of care may also arise where a professional agrees to perform a service without a fee y a professional engaged to provide advice or information
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