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Business Law Comm 300
Canadian Law for Business
22
Business
Undergraduate 3
12/10/2017

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Cards

Term
(J1) Common Law
Definition
This system of law was developed in England and has as its hallmark the tradition of following previously decided cases to guide the case before her.
Term
(J2) Parliamentary Supremacy
Definition
This legal principle recognizes that elected parliaments and legislatures have the authority to enact legislation that will override any judge made law whether in the form of common law or equality.
Term
(J3) Stare Decisis
Definition
This legal principal requires judges to follow earlier decided cases in determining the applicable legal principles to be applied in that case before that judge.
Term
(J4) Negligence
Definition
This legal principle requires a judge to consider whether a person owed a duty of care to another and, if so, whether that person exercised a reasonable standard of care in carrying out their own actions that may have caused harm to that other person.
Term
(J5) Fair Comment
Definition
This legal defense allows a person who has made and published false and derogatory comments about another person to avoid liability based on the idea that the comments were made about a topic of genuine public interest.
Term
(J6) Contributory Negligence
Definition
This legal concept allows a judge to reduce an award of damages due the victim's own carelessness that contributed to the harm suffered.
Term
(J7) Contract
Definition
This is a legal obligation that arises from a voluntary exchange of promises that are legally enforceable in our courts.
Term
(J8) Contamareu
Definition
This legal doctrine requires a person to pay a reasonable amount for a requested service or product even if an enforceable contract for that service or product was not made.
Term
(J9) Voidable
Definition
This term describes the situation in which a victim of a breach of contract has the option to either end/rescind the contract or continue with the agreement and simply sue the other party for financial compensation due to the breach.
Term
(J10) Condition
Definition
The type of contractual term which if breached allows the victim to rescind the contract.
Term
(J11) Fraudulent Misrepresentation
Definition
This happens where a person makes a statement of fact which they know to be false and the other person relies on that false statement in deciding to enter the contract.
Term
(J12) Anticipatory Breach
Definition
This term describes the situation where one party has made it clear that they will not perform a future contractual obligation but the time for doing so has not arrived.
Term
(J13) Fee on Board
Definition
A situation in which the parties to a contract for a sale of goods stipulate when title and risk for the goods will transfer from the vendor to the purchaser.
Term
(J14) Fitness and Quality
Definition
The Sale of Goods act contains provisions, inter alia,imposing obligations on the vendor as to these qualities of the product being sold.
Term
(J15) Agent
Definition
This person will represent another in a contractual negotiation and has the authority to enter into contract on behalf of the other person.
Term
(J16) Agent
Definition
The person representing another will have the other's specific permission to carry out the tasks on behalf of the other person.
Term
(J17) Bailee
Definition
A person acquiring possession of a chattel in a bailment.
Term
(J18) A Chatel
Definition
This type of property is both tangible and moveable.
Term
(J19) Equity of Redemption
Definition
Mortgagor retains an interest in land even after default.
Term
(J21) Mortgage
Definition
This type of loan allows an owner of land to borrow money from a financial institution in return for registration of this type of interest against the land.
Term
(J28) Mitigation
Definition
A person who can foresee that they will receive financial losses due to a breach of contract must take reasonable steps to limit or avoid such losses.
Term
(J30) Apparent Authority
Definition
Conduct of principle suggests to third party that agent has authority to act on the principals behalf.
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