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Define Business Law.
As set of established rules governing commercial relationships, including the enforcement of rights.
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Do decisions of higher courts need to be followed and applied by all inferior courts?
- Yes
- Decisions made by the Supreme Court of Canada are binding in all other Canadian jurisdictions.
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What is the primary function of Canadian constitutional Law?
Establishes Canada's structure or legal authority.
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The Executive Branch of Government contains...
- Formal Executive - ceremonial features, Governor General
- Political Executive - Day-to-day operations
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Is the Defendant being sued or suing?
Defendant is the party being sued. The Plaintiff is the party that initiates the lawsuit against the other party.
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What are the 3 branches of government?
- Legislative
- Executive
- Judicial
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What are methods used when creating a Risk Management Plan to reduce legal liability risks.
- Avoid
- Reduce
- Transfer
- Retain
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What are the 4 steps in creating a Legal Risk Management Plan?
- 1 Identify the legal risks
- 2 Evaluate the risks
- 3 Devise a risk management plan
- 4 Implement the plan
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Define Legal Risk.
A business risk with legal implications.
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What is a Counterclaim?
A claim by the defendant against the plaintiff.
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Define the Burden of Proof.
- The obligation of the plaintiff to prove its case.
- Prove the case on the balance of probabilities.
- More likely than not.
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Which branch of government is responsible for Statute Law?
Legislative Branch
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What should you consider before you sue?
- Do you have the resources necessary?
- Are other steps available?
- Litigation can be lengthy
- What are your chances of winning?
- Does the other side have the assets to pay the claim?
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Define Paramountcy.
A doctrine that provides that federal laws prevail when there are conflicting or inconsistent federal and provincial laws.
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What is a Breach of Contract?
Failure to comply with a contractual promise.
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Define Litigation.
- The process involved when one sues another using the formal court system.
- 1 Civil or Provincial Courts
- 2 Court of Queens Bench
- 3 Court of Appeal
- 4 Supreme Court
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What are 3 alternatives to Litigation?
- Negotiation
- Mediation
- Arbitration
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Define Negotiation.
- 1st logical step
- Negotiated resolution between themselves
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Define Mediation.
A process through which parties try to reach a resolution with the assistance of a neutral person (the mediator).
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Define Arbitration.
- A process through with a neutral person (or panel) makes a decision
- Usually binding
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Define Business Ethics.
Moral principles and values that seek to determine right and wrong in the business world.
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Define Statute Law.
Formal written laws created or enacted by the legislative branch.
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Who makes Common Law?
Judges. Common law is created when judges make decisions. The decisions become precedents, and they are cumulatively referred to as the common law.
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What is the difference between Public Law and Private Law?
- Public Law - VS Government or State - Criminal, Tax, Constitutional and Administrative Law
- Private Law - VS another person - Contract, Tort, Property & Company Law
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What is the Law of Equity?
- What would be "Fair".
- Only assists those with clean hands.
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What is a Limitation Period?
- The time period specified by legislation for commencing legal action.
- Usually 2 years
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What are the 4 stages of a lawsuit.
- 1 Pleadings
- 2 Discovery
- 3 Trial & Decision
- 4 Enforcement
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What is a Contingency Fee?
A fee based on a percentage of the judgement awarded and paid by the client to the lawyer only if the action is successful.
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