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LAW 122 Study Guide - Specific Performance, Neutral Party, Professional Liability Insurance

92 views17 pages
ivorydog431
15 Oct 2012
School
Ryerson University
Department
Law and Business
Course
LAW 122
Professor
Jane Monro

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Document Summary

Chapter 1: risk management and sources of law. Knowledge of law leads to greater risk management, reduces potential costs, increases potential profits. Legal education plays a critical role in risk management. The process of identifying, evaluating, and responding to the possibility of harmful events . Identification: recognition of legal risks can we be held liable for doing something wrong? . Evaluation: assessment of legal risks what are the chances of something going wrong? : response: reaction to legal risks what are we going to do about it? . Avoidance: elimination of risk (not sell certain product or service ex; cars with exploding fuel tanks: reduction: minimization of risk (wiping floor if wet, acceptance: choose to live with the risk (lucrative contact) Shifting: make the risk someone else"s problem (purchase insurance for car accident) Risk shifting: make the risk someone else"s problem.

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Related Questions

Identify which human resources management activity is being illustrated in the following examples:
 
HR management activities:
staffing  compensation & benefits training & development 
compliance  employee relations  
 
1) Identify which human resources management activity is being illustrated in the following examples:
 
6) _____ training and dev _____ A manager conducts job orientation for several new employees.
7) _____ An HR manager makes sure the company is following equal employment opportunity (EEO) laws.
8) _____ An HR manager negotiates with an insurance carrier to get a good deal for the company.
9) _____ An HR manager listens to and records an employee grievance.
10) _____ A supervisor negotiates a job offer with a candidate.
11) _____ A department manager develops an instruction manual for one of the company's job positions.
12) _____ An HR manager perfors background and reference checks on a potential candidate.

The extent to which principals are personally responsible for the debts of the business is which of the following factors?

⭕ Liability

⭕ Management

⭕ Formation

⭕ Taxes

Which of the following is an advantage of the corporate form of​ business?
 
A) separation of ownership and management.
B) low​ start-up costs.
C) limited liability of stockholders.
D) less degree of government regulation.