Chapter 1 - Summary Canadian Business Law, ISBN: 9781772552812 BUSI2601 (BUSI2601)
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Course
BUSI2601 (BUSI2601)
Institution
Carleton University (CU
)
Book
Canadian Business Law
This document provides a full chapter summary of chapter 1 in the Canadian Business Law textbook, tailored for BUSI2601 business minor course at Carleton University.
The chapter covers:
- 4 stages of legal risk management
- Canadian constitution federal structure
- Section 91 and Section 92 ...
business law in canada 11th edition by yates testbank
Summary Canadian Business Law, Chapter 5, ISBN: 9781772552812 BUSI2601
Summary Canadian Business Law, Chapter 7, ISBN: 9781772552812 BUSI2601
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Written for
Carleton University (CU
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Business Law
BUSI2601 (BUSI2601)
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CANADIAN BUSINESS LAW
CHAPTER 1
4 stages of legal risk management:
1. Risk Avoidance - stopping a particular business activity bc risk is too great
2. Risk Transference - transferring risk to others; either transferring by contract or by
acquiring insurance
3. Risk Reduction - putting into place a management plan that can lower your risk
probability.
4. Risk Retention - decision to go for it and risk it, good for decisions where impact of
risk on business is lower than cost of risk avoidance or transfer
Laws for orderly society
Laws govern the relationships of individuals to businesses and organizations, and function to
safeguard orgniazations and individuals from others and government
Rule of law - Fundamental legal principle that no one is above
Juristiction - Authority to make or enforce the law
Constituion - foundation upon which government is given authority to govern
Canadian constitution federal structure incorporates 2 legal systems:
1. British common law
2. European civil law
Civil law system - system of codified law that recognizes court decisions with the same
force of law as statues…. Courts are required to follow the order and interpretation given by
the higher courts in the same jurisdiction.
2 constitution acts created:
1. The Constitution Act, 1867 (Formerly the British North America Act)
i. It established the extent and limits of govt authority
ii. Established the framework under which all laws must conform
iii. Transferred from UK parliament to Canadian federal Parliment
iv. Created a federal system of govt, meaning there is federal and
provincial level, in each province - both with similar institutional
structures
○ Legislative Branch
, i. Branch of govt resposibule for introducing, voting on and passing
legislation (statute law)
1. Ex. statutory holiday or minimum wage requirements
ii. Legislative process is the manner by which a bill becomes a statute,
powered by both parliament (section 91) and the powers of the
provincial legislature (section 92)
Section 91:
1. Citizenship
2. Criminal law
3. Military & national defense
4. Banking & printing of money
5. Postal services
6. Intellectual property
7. Taxation
8. Shipping and interprovincial trade and commerce
Law-making authority of provincial legislature (section 92)
● Provincial government has greater authority over matters concerning daily life of
people and businesses
● Responsible for:
○ Welfare of people: education
○ Hospital administration
○ Administration of justice
○ Social services
○ Property rights
○ Natural resources
○ Power over direct taxation
○ Regulation of real estate, consumer protection, licensing and employment
Municipal governments responsibility:
● Local infrastructure (roads & sewers)
● Fire & police services
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