What you you do to legal risks?
Identify, evaluate, and respond to legal risks.
What are the 4 types of risk management?
1. Risk avoidance.
2. Risk reduction.
3. Risk shifting.
4. Risk acceptance
What is risk avoidance?
What is risk reduction?
For example a bank gives a mortgage. So if they don't get paid, they can at least the property.
What is risk shifting?
Such as insurance and/or insurance clauses.
What is risk acceptance?
What does liability insurance insure you for?
For when you are doing something wrong.
What does proprty insurance insure you for?
For the purchaser's property damaged, lost, or destroyed.
What do exclusion and limitation clauses do?
Sign away your right to sue.
Do incorpoartions have limited liability?
What are the three types of torts?
1. Intentional tort
2. Business tort
What is an example of intentional tort?
What is an example of a business tort?
What is an example of negligence?
Carelessly hurt another
What are the 3 main divisions of law of property?
1. Real property
2. Personal property
3. Intellectual property
What is real property?
Land, or things attached to the land.
What is personal property?
Things that can be moved.
What is intellectual property?
How can the Constitution be changed?
Only can be changed through an amending formula.
When was the Canadian Charter of Rights and Freedoms written into the Constitution?
What are the 5 charter remedies?
Severance, reading down, reading in
What is declaration?
When the court declares that the Charter has been violated.
What is injuction?
Court may impose an injunction that requires the government to address the problem in a certain way.
What is striking down?
A Court may strike down or eliminate a statute that violates the Charter.
What is severance?
If one part of the statute is offensive it might be severed or cut out.
What is reading down?
If a statute is too broadly written, it can be read down so that it applies to what can be justified.
What is reading in?
If a statute is too narrowly written then court may read in so that people are not excluded from the benefit.
What are damages?
When a plantiff wins they get damages for the injures or losses that they have suffered.
What is the Legislative Process in simple terms?
1. First Reading
2. Second Reading
3. Third Reading
4. Royal Assent
What is royal assent?
Her Majesty's approval. Given on her behalf by the Governor General.
What must the courts interpret and apply?
Words that appear in Constitution and in legislation.
What is the system of law?
Systems can can be traced back to England
What is the source of the law?
Common law that is developed by the courts.
What are the two types of courts in common law?
Courts of law, which is common law.
Courts of equity, which is equity.