Distinguish between tenancy in common and joint tenancy.
Page 459: Several people can own one piece of land at once. They can own the property as
tenants in common or as joint tenants. If they own as tenants in common, they each have an
What two kinds of liability can a corporation can experience in tort law?
Page 367: A corporation can experience two distinct kinds of liability in tort: primary
liability and vicarious liability.
When can a corporation have primary liabi
What must a corporation do that offers its shares to the public?
Page 329: Corporations that offer their shares to the public must publish information
concerning their finances. Such disclosure makes a corporation subject to greater outside
What rights and powers does a general partner have in a limited partnership?
Page 326: General partners have substantially the same rights and powers as partners in
How is a limited liability partnership different from an or
Explain how and why a partnership ends.
Page 323: The Partnership Act provides for the termination of a partnership under certain
circumstances: if entered into for a fixed term, by the expiration of the term; if entered into
for a single venture or u
How are partnerships formed and what sources of law govern partnership
Pages 315316: A partnership is like a sole proprietorship in that neither has a legal
personalityor legal existenceseparate from the people who compose them. There are n
Explain who is recognized as a partner under the statutory definition of partnership.
Page 318: The statutory definition of partnership covers people who expressly intend to be
partners and people who may not intend to be partners but act as if they ar
Why is it critical for an entrepreneur to consider the form of business organization,
particularly the concept of unlimited liability of a sole proprietor?
Pages 312313: The form of business is a critical consideration because it determines
Chapter 20- The Employment Relationship
Employment Relationship: A contractual relationship whereby an employer
provides remuneration to an employee in exchange for work or service.
Independent Contractor: A person who is in a working relationship that do
Chapter 17- Personal Property
Personal Property: All property, other than land and what is attached to it.
Tangible Property: Personal property, which is mobile, the value of which comes
from its physical form.
Intangible Property: Personal property the v
Chapter 13- The Agency Relationship
Agency: A relationship that exists when one party represents another party in the
formation of legal relations.
Agent: A person who is authorized to act on behalf of another.
Principal: A person who has permitted anothe
Chapter 9- Termination and Enforcement of Contracts
Vicarious Performance: Performance of contractual obligations through others.
Novation: The substitution of parties in a contract or the replacement of one
contract with another.
Assignment: The transfer
Chapter10-Introduction to Tort Law
Tort: A harm caused by one person to another, other than through breach of
contract, and for which the law provides a remedy.
Trespass to land: Wrongful interference with someones possession of land.
Deceit or Fraud: A f
Chapter5- An introduction to Contacts
Contract: An agreement between two parties that is enforceable in a court of law.
Objective Standard Test: The test based on how a reasonable person would view
Equal Bargaining Power: The legal assumption
Chapter3- Managing Legal Risks
Legal Risk: A business risk with legal implications.
Legal risk management plan: A comprehensive action plan for dealing with the
legal risks involved in operating a business.
Risk Avoidance: Ceasing a business activity beca
Chapter2-The Canadian Legal System
Government Policy: The central ideas or principles that guide government in its work,
including the kind of laws it passes.
Constitutional Law: The supreme law of Canada that constrains and controls how the
branches of g
Test #1 Law
1. Which of the following best defines business lawB) Rules governing commercial relationship and the enforcement of rights
2. AbC company recovered most of its property stolen by a former employee. The
employee was placed on probation and ord
Mentoring is very skilled and qualified activity, based on trusted relationship with students and learners.
Mentor is an experienced and knowledgeable person who helps to guide less known and new learner
and give direction to their career. Mentoring is a
PACKAGE ENGINNERING & THE
Information was not transferred to new system properly and causing issues with
inventory level, customer records, purchase order status, shipment movement and
Implementation of SAP sys
SOURCING RISK MANAGEMENT PLAN FOR SUPPLIER E-DRIVE
Risk or Concern
Risk Reduction Plan
There is no consistency between
the plant manager and quality
manager (quality manager
confessed about quality issues
MITIGATION FOR FUTURE LOSSES
For every company, effective supply chain is essential to get success. For the production and
processes to be in flow, the parts should be on time. The delay of inventory affects our
SHORT TERM CONTRACTS VS LONG TERM CONTRACTS
Dear Mr. Smith,
I have received your e-mail about two projects and my point of view on that. My calculations are the
1. 12 500 $ money which is needed (investments)
1.9804 the present value factor with interest rate 2% for 1 year
$ 12.500 0.980
PSC has good reputation and
experienced company in the market
They are financially strong to invest in
They are good in product design and
have updated technology
Do not have enough capacity to
SINGLE SOURCING VS MULTIPLE SOURCING
assurance in the
improvements. As a
the costs and
Evaluating delivery time
5 All shipments are on time.
4 Greater than or = 95% but up to 99% shipments on time.
3 - Greater than or = 90% but up to 94% shipments on time.
2 - Greater than or = 81% but up to 89% shipments on time.
Amid Furniture Company
Packing with bubble wrap (3000*0.5) $ 1,500.00
Moisture proo ng (4*200)
All-inclusive Insurance (0.05*3000)
Fixed cost of production (per month) 8,250.00
w_ Suppliers Supplierc
Employees directly give order to the supplier without inform to the accounting department and when
the times comes for payment there was no record for that which have negative impression on the
Alice suggested, that to track the inventor