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Created by miguelabascal
about 11 years ago
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Insurance is
insurance premium, which is calculated based on
In order for insurance contracts to be legal, they must not be
Wagering contracts not covered by statute are unenforceable at common law because
an important distinction between a wager and an insurance contract
Insurance policies are strictly construed against an insurer if clauses in a policy are considered ambiguous. If the literal and liberal method of interpretation does not resolve the ambiguity, the courts will use
An insurable interest exists where
There can be no windfall gain. In other words
The insured has a duty of
utmost good faith
This complete disclosure allows the insurer to
The insured is also under a duty to communicate promptly to the insurer any change in the
Once the insurer has compensated the insured by paying a claim for a loss, the insurer has all the rights that the insured had to recover the loss against third parties. This is called the right of
There are three main types of working relationships
control test, which looks at
organization test
An employer has certain obligations imposed by statute, such as
An agency relationship exists where a principal authorizes an agent to
An independent contractor is a
The person hiring an independent contractor is not vicariously liable for the actions of the independent contractor, so an independent contractor should carry his or her own
“On a frolic of this own”
At common law, there are two ways for an employment contract to end:
What is reasonable notice
Reasonable notice is not required when an employee is
Any major breach of the employment contract by the employee may constitut
Employees may leave without notice where
Wrongful or constructive dismissal occurs when
The usual remedy for wrongful or constructive dismissal is
Reinstatement, a form of
Damages are awarded based on
If a person has been unjustly terminated and treated very poorly to the extent that his or her reputation and health has suffered, the courts may award
retroactive justification, where an employee has been dismissed initially without cause, but then later
All provinces have a provincial employee welfare act, titled
The Canada Labour Code covers employment that is
These acts set out the minimum standards required for employment, including working conditions, wages and hours of work, notice of termination, employment equity, and health and safety.
Workers’ compensation is contained in provincial legislation designed to
The Employment Insurance Act, a federal statute, allows
Certification is the formal acknowledgment that
Certification is the formal acknowledgment that
The process of establishing conditions of employment through negotiations between a business and the bargaining agent for its employees is known as
Mediation or conciliation is used to assist in negotiations, usually between an employer and the union, and must occur before either
Mediation or conciliation is used to assist in negotiations, usually between an employer and the union, and must occur before either
Grievances are usually referred to
Grievances are usually referred to
There are four main types of labour disputes:
There are two main types of leases:
An operating lease is also known as
Purchase leases (called capital leases in accounting) are
There are two types of purchase leases:
Businesses wishing to sell assets to obtain funds to run the business may enter into another type of lease:
Lease – is an
Most leases contain terms setting out
“residual guarantee,”