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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


Unconditional, if there is a change in any term of the offer there is no acceptance but a counter offer.


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withdrawn once accepted.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