Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
26 Cards in this Set
- Front
- Back
Tort
|
Tort is a legal wrong
|
|
Law is
|
expressed will of society governing relationship among members of that society
|
|
Insurance is concerned about civil law which refers to laws that givern the relations between private individuals or groups of individuals.
|
|
|
Classes of laws
|
Criminal and civil law
|
|
Comitting a tort means
|
Comitting a legal wrong |
|
In Canada there are two basic systems of law
|
Common Law and Statue law
|
|
Common law is based on
|
Precedent |
|
Statute law |
Written law |
|
Common law is applied in all provinces except |
Quebec |
|
Common law applied in all provinces and is supplemented by |
Statute law |
|
In Quebec, all law has been
|
Codified |
|
The Civil code contains the basic body of |
Quebec law
|
|
Codified law is
|
a statute law which is classified and arranged in a systematic collection or code. It is written law. |
|
Common law is
|
a body of well-defined legal principles it is based on the rule of precedent |
|
Common law aka
|
Case law |
|
Statute law is created by |
legislation of the federal parliament or provincial legislatures. It is written or codified in the form of acts or statutes passed by an elected body. |
|
Provincial law is not uniform but in dealing with insurance |
there is a considerable degree of uniformity |
|
Define a contract
|
an agreement enforceable by law |
|
What is agreement |
Meetings of minds between parties involved
|
|
An agreement requires |
An offer and an acceptance of that offer |
|
Acceptance must be
|
Communicated between the parties Made in the manner required by offeror Made within the time required by the offer |
|
An offer cannot be
|
withdrawn once accepted. |
|
Absence of a true mutual understanding is the cause for the law to retreat the contract as
|
never having existed. |
|
What is a voided contract
|
a contract that never has any legal existence and cannot be enforced |
|
Consideration
|
that which one party give or promises to give in exchange for the act or promise of the other. It is the price agreed upon |
|
Legal capacity
|
|