Module 1: Canadian Legal System, Managing Risk, Legal Dispute Resolutions Flashcards
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
anti-discrimination law
confronts bigotry by providing remedies to those who are treated unjustly and prejudicially
tort law
ensures that those who wrongfully cause injury to another are held financially accountable
legal risk management plan
identify legal risks associated with a business and implementing concrete measures for managing those risks (contingency plan) before they occur
legislative branch
creates law in form of statutes and regulations
executive branch
formulates and implements government policy and law
judicial branch
abjudicates on disputes
constitutional law
the supreme law of Canada that constrains and controls how the branches of gov’t exercise power
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
statute law
formal, written laws created or enacted by the legislative branch of gov’t
exclusive jurisdiction
jurisdiction that one level of gov’t holds entirely on its own and not on a shared basis with another level
concurrent jurisdiction
jurisdiction that is shared between levels of gov’t
paramountcy
a doctrine that provides that federal laws prevail when there are conflicting or inconsistent federal and provincial laws
jurisdiction
the power that a given level of gov’t has to enact laws
formal executive
the branch of gov’t responsible for the ceremonial features of gov’t
political executive
branch of gov’t responsible for day2day ops, including formulating and executing gov’t policy, and administering all depts of gov’t
cabinet
a body composed of all ministers heading gov’t depts, as well as the prime minister or premier
small claims court
a court that deals with claims up to a specified amount; amount varies prov to prov (~25k to 50k)
inferior court
a court with limited financial jurisdiction whose judges are appointed by the prov gov’t
superior court
courts with unlimited financial jurisdiction whose judges are appointed by the federal gov’t
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
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)
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)
administrative law
rules created and applied by those having governmental powers
i.e. boards, agencies, commissions, tribunals, and individuals
risk avoidance
ceasing a business activity bc the risk is too great
risk reduction
introducing policies, practices, and procedures to reduce probability of an event happening
risk transference
usually in the form of insurance
risk retention
absorbing the loss if a legal risk materializes (only done when cost of avoiding or transferring is greater than absorbing it)
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)
burden of proof
obligation of the plaintiff to prove its case
judgment debtor
the party ordered by the court to pay a specified amount to the winner of a lawsuit
apellant
the party who begins or files an appeal
respondent
the party against whom an appeal is filed
arbitration
a process in which a neutral third party hears both sides of dispute and makes a binding decision (win/lose)
mediation
A process in which a third party intervenes to bring opposing parties to an agreement
negotiation
a process whereby both parties communicate to reach a mutually acceptable agreement
enterprise risk management
the process of identifying and managing all business risks
