Management and Organizational Studies 2275A/B Chapter Notes - Chapter 1-9: Benzene, Garnishment, Canadian Charter Of Rights And Freedoms

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 2275A/B
• Professor: Philip King

Document Summary

Chapter 1: knowledge of law as a business asset. Corrective or alternative view that the legal system is obstructionist- (cid:862)getti(cid:374)g i(cid:374) the (cid:449)a(cid:455)(cid:863) of commercial activity. Important perspective that the law facilitates business planning, offers protection mechanisms, provides general rules of commerce, and allows business people to manage their exposure to risk. Law impacts every aspect of society, including the business environment. Knowledge of the law is a business asset: knowledge of the law helps entrepreneurs maximize protection and avoid pitfalls. A set of established rules governing commercial relationships, including the enforcement of rights by the government. Law: set of rules and principles guiding conduct in society. 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. Legal rules provide definition and context to doing business.