CAIB 3 exam 2024 with 100% complete solutions

Civil Law correct answersthe body of law concerned with civil or private rights and remedies, as contrasted with criminal law which deals with wrongs against society. Tort correct answersa 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 correct answersis the failure, without legal excuse to perform any promise which forms the whole or part of the contract. Rule of Precedent correct answersbasic concept in common law in which current court decisions must follow those made in cases having similar circumstances. Statute Law correct answerswritten law enacted by provincial or federal legislation. It amends or supercedes the common law. Damages correct answerscompensation in money for the loss or damage suffered. Compensatory Damages correct answersare damages intended to compensate the injured party for the bodily injury or property damage sustained. General Damages correct answersare 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 correct answersare damages which can be measured as to amount and are often referred to as out of pocket expenses. Exemplary or Punitive Damages correct answersdamages which are intended to punish defendants for their behaviour or to make an example of them.