LAW 201 Lecture Notes - Lecture 12: Regulation, Standard Form Contract, Rescission
28 Mar 2017
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Document Summary
Business law tends to be statutory in nature reflect government policy in a regulatory fashion and they can be permissive or restrictive. Permissive business law: both federal and provincial government permit the creation of corporations: Under constitutions sections 91 and 92 little practical difference between their incorporation = constitutional concurrency. Restrictive business law: the government"s" policies or rules for carrying out business activities: Constitution sections 91, 92 list what federal and provincial government can regulate. Which government regulates depends on the nature of activity and less who the actor is. Lawyers need to understand business structures and relationships for a variety of reasons and different fields: Family law whether marriage breakdown or nor. Civil litigation especially where a business is a defendant. Criminal litigation or regulatory law who is criminally culpable/charged. Practicing business law: acting as representative for large businesses, entrepreneurs, not-for-profit organizations (nfps) etc.
