Management and Organizational Studies 2275A/B Chapter Notes - Chapter 1-4: Concurrent Jurisdiction, Business Ethics, Corporate Law

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

Document Summary

Bus law 2275: the legal environment of business, chapters 1-4. Chapter 1 knowledge of law as a business asset. Rules and principles: law the set of rules and principles guiding conduct in society. Facilitating interactions: contract law rules that make agreements binding and, therefore, facilitate planning and enforcement of expectations, functions to prevent disputes and to facilitate relationships, litigation the process involved when one person sues another. It is a rule of law that a party who suffers a breach of contract is entitled to be put in the position that he or she would have been in had the contract been fulfilled. Knowledge of the law as a business asset: legal risk management plan a comprehensive action plan for dealing with the legal risks involved in operating a business, identify and plan for risks before they occur. The canadian charter of rights and freedoms has an impact from cigarette producers to toy manufacturers.