MCS 3040- Final Exam Guide - Comprehensive Notes for the exam ( 89 pages long!)

• School: University of Guelph
• Department: Marketing and Consumer Studies
• Course: MCS 3040
• Professor: Joseph Radocchia

Document Summary

Canadian business and the law: knowledge of the law as a business asset. Business law: a set of established rules governing commercial relationships, including the enforcement of rights: defines general rules of commerce, protects business ideas and more tangible forms of property. How is law useful in the business environment: facilitates business planning, provides mechanisms that permit business people to manage their participation in business activities and exposure to risk in business ventures. The law facilitates certainty by providing rules, particularly in the area of contracts, that allow business enterprises to plan for the future and to enforce their expectations. In short, legal rules provide definition and context to doing business. The law protects members of society in two ways: first, it sets rules with penalties in order to encourage compliance, and second, it seeks to make those who break the law accountable for their misconduct. Personal information protection and electronic documents act (pipeda)