Legal Relations Chapter 1-4

  1. Define Business Law.
    As set of established rules governing commercial relationships, including the enforcement of rights.
  2. 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.
  3. What is the primary function of Canadian constitutional Law?
    Establishes Canada's structure or legal authority.
  4. The Executive Branch of Government contains...
    • Formal Executive - ceremonial features, Governor General
    • Political Executive - Day-to-day operations
  5. 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.
  6. What are the 3 branches of government?
    • Legislative
    • Executive
    • Judicial
  7. What are methods used when creating a Risk Management Plan to reduce legal liability risks.
    • Avoid
    • Reduce
    • Transfer
    • Retain
  8. 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
  9. Define Legal Risk.
    A business risk with legal implications.
  10. What is a Counterclaim?
    A claim by the defendant against the plaintiff.
  11. 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.
  12. Which branch of government is responsible for Statute Law?
    Legislative Branch
  13. 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?
  14. Define Paramountcy.
    A doctrine that provides that federal laws prevail when there are conflicting or inconsistent federal and provincial laws.
  15. What is a Breach of Contract?
    Failure to comply with a contractual promise.
  16. 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
  17. What are 3 alternatives to Litigation?
    • Negotiation
    • Mediation
    • Arbitration
  18. Define Negotiation.
    • 1st logical step
    • Negotiated resolution between themselves
  19. Define Mediation.
    A process through which parties try to reach a resolution with the assistance of a neutral person (the mediator).
  20. Define Arbitration.
    • A process through with a neutral person (or panel) makes a decision
    • Usually binding
  21. Define Business Ethics.
    Moral principles and values that seek to determine right and wrong in the business world.
  22. Define Statute Law.
    Formal written laws created or enacted by the legislative branch.
  23. 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.
  24. 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
  25. What is the Law of Equity?
    • What would be "Fair".
    • Only assists those with clean hands.
  26. What is a Limitation Period?
    • The time period specified by legislation for commencing legal action.
    • Usually 2 years
  27. What are the 4 stages of a lawsuit.
    • 1 Pleadings
    • 2 Discovery
    • 3 Trial & Decision
    • 4 Enforcement
  28. 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.
Card Set
Legal Relations Chapter 1-4
Legal Relations