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Comm 304 business Law Lecture 1.docx - Comm 304 Business...

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Comm 304: Business Law Warranty This only protects the dealer/seller of the object under warranty. When you buy the object and sign the warranty card you sign away your legal obligation to take the object back to the place of purchase for a full refund or replacement. Warranty gives protection to the seller against the consumer. With a warranty you enter a contract (does not allow you to return and get money back). Sale of Good Act law says where you have not contracted yourself out there is a guaranty (implied) (so could get money back). Guaranty This is a legal right to take back the object to the place of purchase and get the money or the product exchanged. Certified cheque – not a guaranty of payment - Can stop payment - Once made money put in suspended account - Certified by maker just make sure that the maker has the money - Payer=bank, payee =me - If payee certifies a cheque then it is guaranteed If freedom is taken away then under the Charter of Rights and Freedom entitle you to legal council (calls needed not just one + in private where no one can over hear you) Money order is guaranteed, like money in hand. Every court case has 3 parts: o Facts o Decision o REASON for decision Ratio Decidendi (Latin term) On exam will give facts then have to talk about the law of warranty and guaranty (follow these 3 parts of a court case) What is Law: Is a set of rules and regulations made by the people for the people to help govern the way of life and the lifestyle of society Law has the ability to change as the lifestyles of the people it governs. It regulates change. Laws also change to accommodate the people who make and regulate the law. The law is not always fair or just as people are not perfect nor is it consistent. Law is made by people and we try to approach consistency although there are always changes. Law comes from custom, religion, and society organization and comes from situations that arise in the law. Such as the two main areas of law: Statute (legislation) and Common Law . If there is no law in the legislation or Common Law it cannot govern a certain matter. Nothing more than man made rules and regulations 1
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Comm 304: Business Law A tremendous maze (9000 or more pages of provincial statute, more in federal statute) of man made rules and regulations Never consistent, never always fair, has short comings Maximum speed on a public highway : In statute, traffic safety act: greater than 80 km per hour unless otherwise posted. Public highway: any roadway the public can use Where does it come from? (sources of law) 1. Statute (AKA government law, legislation, Enactment, Act, code, by-law) skeleton of the law 2. Common law (AKA judge made law, Case law, previous court decisions, precedent, Stare Decisis (Latin term)) vast area of the law (7000+ pages) We are presumed to know the law – ignorance of the law is no excuse nor is it a proper defense but can be used to reduce the severity of the sentence.
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