Module 1: Canadian Legal System, Managing Risk, Legal Dispute Resolutions Flashcards Preview

MOS 2275: Business Law > Module 1: Canadian Legal System, Managing Risk, Legal Dispute Resolutions > Flashcards

Flashcards in Module 1: Canadian Legal System, Managing Risk, Legal Dispute Resolutions Deck (37)
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1

bankruptcy law

the vehicle for ensuring that all those affected by a failed business are treated fairly, reasonably, and according to a set of agreed upon rules

2

anti-discrimination law

confronts bigotry by providing remedies to those who are treated unjustly and prejudicially

3

tort law

ensures that those who wrongfully cause injury to another are held financially accountable

4

legal risk management plan

identify legal risks associated with a business and implementing concrete measures for managing those risks (contingency plan) before they occur

5

legislative branch

creates law in form of statutes and regulations

6

executive branch

formulates and implements government policy and law

7

judicial branch

abjudicates on disputes

8

constitutional law

the supreme law of Canada that constrains and controls how the branches of gov't exercise power

9

constitutional conventions

a code of ethics that govern our political processes i.e. office of prime minister not written in the constitution but is widely recognized, thus a convention

10

statute law

formal, written laws created or enacted by the legislative branch of gov't

11

exclusive jurisdiction

jurisdiction that one level of gov't holds entirely on its own and not on a shared basis with another level

12

concurrent jurisdiction

jurisdiction that is shared between levels of gov't

13

paramountcy

a doctrine that provides that federal laws prevail when there are conflicting or inconsistent federal and provincial laws

14

jurisdiction

the power that a given level of gov't has to enact laws

15

formal executive

the branch of gov't responsible for the ceremonial features of gov't

16

political executive

branch of gov't responsible for day2day ops, including formulating and executing gov't policy, and administering all depts of gov't

17

cabinet

a body composed of all ministers heading gov't depts, as well as the prime minister or premier

18

small claims court

a court that deals with claims up to a specified amount; amount varies prov to prov (~25k to 50k)

19

inferior court

a court with limited financial jurisdiction whose judges are appointed by the prov gov't

20

superior court

courts with unlimited financial jurisdiction whose judges are appointed by the federal gov't

21

rules of equity

rules that focus on what would be fair given the specific circumstances of the case, as opposed to what the strict rules of common law might dictate

22

substantive law

law that defines rights, duties, and liabilities (ex. the right for a plaintiff to challenge the gov't for failing to meet a standard)

23

procedural law

the law governing the procedure to enforce rights, duties, and liabilities (ex. the fact that a trial judge's decision can be appealed to a higher court is a procedural matter)

24

administrative law

rules created and applied by those having governmental powers
i.e. boards, agencies, commissions, tribunals, and individuals

25

risk avoidance

ceasing a business activity bc the risk is too great

26

risk reduction

introducing policies, practices, and procedures to reduce probability of an event happening

27

risk transference

usually in the form of insurance

28

risk retention

absorbing the loss if a legal risk materializes (only done when cost of avoiding or transferring is greater than absorbing it)

29

limitation period

the time period specified by legislation for commencing legal action; generally, right to sue is lost after limitation period (some exceptions i.e. sexual assault, minors, people with disabilities)

30

burden of proof

obligation of the plaintiff to prove its case