business law summative Flashcards

You may prefer our related Brainscape-certified flashcards:
1
Q

what is carrying out an enterprise by a CCQ?

A

the carrying on by one or more persons of an organized economic activity, consisting or producing property

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

what are considerations?

A

type of business + type of transaction–> financing, area of trade, number of employees, how are profits disyribiyed

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

what is a trade name?

A

the name your business is commonly known as or the name you use when advertising or doing business. cant be similar to an existing name

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

what is good will?

A

the ability to attract and maintain clientele will attach to a name. once a name becomes associated with goods and services of a certain quality it is said to have good will.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

what is trade marK?

A

word, symbol, design (or combo of these 3), used to distinguish the services of one person or organization from those of others in the marketplace.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

whats the purpose of a corporation?

A

engage in businsesses with a view to limit negative risks and manage the positive ones. corp has all capacities of a natural person. subject to the laws of that jurisdiction. it goes shareholders then directors then establish general policy then choose president

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

what is transfer of shares?

A

shareholders can transfer their shares. evidence of ownership–> share certificate. doesn’t affect business activities

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

what is immortality?

A

come to an end when shareholders surrender its charter/ goes bankrupt or court orders its dissolution

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

in case of fraud, who is repsonsible?

A

shareholders and directors

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

what is directors liability?

A

personally responsible for 6 months of scary of employee, tax deductions at the source improper dividend

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

what does article 322 say (fidicuiary duty)

A

must be honesty and loyal to shareholders

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

whats a private company?

A

security shareholders should be max 50. restriction on transfer of securities

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

public company?

A

found in secuirities act of QC. have to appoint auditors, shares have to be traded through a stock exchange

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

what does article 15 say in the Canadian charter of rights and freedoms?

A

everyone under the law has the right to equal protection and cannot be discriminated based on race, national or ethnic origin, colour, religion, ages sex or mental disability.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

why is the QC charter more modern and inclusive?

A

Canadian charter is more than an act of the parliament, its the supreme law of the land and cannot be changed by another act. QC charter is an ordinary act of the provincial legislature. to change or amend the canaiden charter–> an act of parliament ratified confirmed by at least 7 provincial legislatures representing at least 50% of Canadas population.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly