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11 Cards in this Set
- Front
- Back
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Age of Majority |
The age at which a person becomes an adult for legal purposes in Canada, this ranges from 18 to 19 years of age, depending on the province |
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Arbitration |
A process through which a neutral party makes a decision (usually binding) that resolves a dispute |
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Breach of Contract |
Failure to comply with a contractual promise |
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Business Ethics |
Moral principles and values that seek to determine right and wrong in the business world |
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Business Law |
A set of established rules governing commercial relationships, including the enforcement of rights |
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Contract Law |
Rules that make agreements binding and, therefore, facilitate planning and the enforcement of expectations |
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Law |
The set of rules and principles guiding conduct in society |
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Legal Risk Management Plan |
A comprehensive action plan for dealing with the legal risks involved in operating a business |
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Liability |
Legal responsibility for the event or loss that has occurred |
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Litigation |
The process involved when one person sues another |
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Mediation |
A process through which the parties to a dispute with the assistance of a neutral person |
