CAIB 3 Exam Questions with All Correct Answers

CAIB 3 Exam Questions with All Correct Answers Civil Law - Answer-the body of law concerned with civil or private rights and remedies, as contrasted with criminal law which deals with wrongs against society. Tort - Answer-a private or civil wrong or injury, other than breach of contract, for which the court will provide a remedy in the form of an award for damages. Breach of Contract - Answer-is the failure, without legal excuse to perform any promise which forms the whole or part of the contract. Rule of Precedent - Answer-basic concept in common law in which current court decisions must follow those made in cases having similar circumstances. Statute Law - Answer-written law enacted by provincial or federal legislation. It amends or supercedes the common law. Damages - Answer-compensation in money for the loss or damage suffered. Compensatory Damages - Answer-are damages intended to compensate the injured party for the bodily injury or property damage sustained. General Damages - Answer-are damages which cannot be exactly determined in monetary terms, but reflect an amount that the court believes necessary to compensate the aggrieved party fairly. Special Damages - Answer-are damages which can be measured as to amount and are often referred to as out of pocket expenses. Exemplary or Punitive Damages - Answer-damages which are intended to punish defendants for their behaviour or to make an example of them. Doctrine of Negligence - Answer-based on the duty of all persons to exercise due care in their conduct towards others from which injury may result. Negligence - Answer-the failure to do something which a reasonable man, guided by those ordinary considerations which ordinarily regulate human affairs, would do, or the doing of something which a reasonable and prudent man would not do.