Questions and Answers of Canadian Business And The Law

Two companies (WSI and CA) dominated the commercial waste collection service industry on Vancouver Island. Their customers were restaurants, schools, office complexes, and condominium developments.
How can a corporation use the provisions of the Competition Act against a competitor?
In what ways does consumer protection legislation expand the application of the Sale of Goods Acts?
What is the purpose of an insurance adjuster?
What does an insurance broker do?
When should a business consider buying key-person life insurance?
What are examples of standard exclusions in CGL policies?
Describe commercial general liability insurance (CGL).What is its purpose?
What is the difference between a rider and an endorsement in an insurance policy?
Why are contracts of insurance known as contracts of indemnity?
What is a deductible? What effect does it have on insurance premiums?
Twelve-year-old Aaliyah Braybrook was babysitting two boys, aged three and five, when a fire broke out in their home. Braybrook was able to get the boys and the family pet out but the fire destroyed
What is a premium?
What is the purpose of an insurance contract?
What are the differences between an individual being bankrupt and a corporation being bankrupt?
What happens if unsecured creditors do not vote to approve a proposal?
Why might a large company prefer reorganizing under the CCAA rather than making a proposal under the BIA?
What is the purpose of a proposal?
What debts are not released in a discharge from bankruptcy?
What are the duties of the trustee in bankruptcy?
Under what circumstances will a court place conditions on a discharge from bankruptcy?
How are employees protected in the bankruptcy of their employer?
How are preferred creditors treated differently from secured and unsecured creditors?
Who are preferred creditors?
How can lenders and other creditors protect them selves from the possibility that debtors may seek and obtain bankruptcy protection?
Who can oppose a bankruptcy discharge?
Why does the bankruptcy legislation treat individuals differently from corporations regarding a discharge from bankruptcy? Is this treatment appropriate?
Brown Recycling Ltd was a paper recycling company that received millions of dollars in secured loans from the City of Regina. In 2016, Brown went bankrupt, as a result of poor cash flow due to
What is a fraudulent conveyance?
What are the requirements for a creditor to obtain a bankruptcy order?
In 2009, Nortel Networks Corporation filed for protection from creditors under the CCAA. Nortel initially sought to emerge from bankruptcy protection as a viable business, but in June of 2009 Nortel
How can negotiated settlements be used when a business is in financial difficulty?
How does a guarantee affect the limited liability of a shareholder?
What are the issues with standard form guarantee contracts?
Who are the parties in a guarantee contract?
What is a deficiency?
What is the role of a receiver?
Why is a secured creditor in a better position than an unsecured creditor?
What is a purchase-money security interest?
What is the role of a financing statement?
Why is after-acquired property included as collateral in a general security agreement?
Why are payday loans regulated differently than other loans?
What is a criminal rate of interest?
The current legislative framework for payday loans varies from province to province, but essentially allows lenders to loan funds to consumers at interest rates that would otherwise be considered
What are the disclosure requirements for a consumer loan?
What are the key aspects of personal property security legislation?
What are the rights of an unsecured creditor on default by the debtor?
The bank agreed to lend money to Wilder Enterprises Ltd. and, in order to secure repayment of the loan, the company granted the bank a security interest in all of its assets. The loan was also
What are some of the methods that creditors use to reduce risk in credit transactions?
Carolyn Zuk was an officer of Silverado Drilling Corporation. Carolyn’s husband Kevin Zuk was the sole director of Silverado. Carolyn and Kevin both gave personal unlimited guarantees to the bank,
What are some examples of credit transactions?
Douglas Pools Inc. operates a pool company in Toronto. In order to finance the business, Douglas Pools negotiated a line of credit with the Bank of Montreal to a maximum indebtedness of $300 000. The
How can smartphones be used for banking?
What are the legal uncertainties in electronic banking?
What are the benefits of electronic banking?
What are the banks’ obligations regarding suspected money laundering?
What are the key risks for a business in accepting cheques from customers?
What is an electronic funds transfer?
Why are electronic transfers not subject to the same regulations as paper transactions?
Why is the volume of cheques declining?
What is a cheque?
TPL Limited (TPL) made out a cheque payable to a numbered company for $50 000, to pay the purchase price for a motor vehicle purchased by TPL from the numbered company. Douglas, who was an officer
Lauren and Peter installed devices on several ATM machines to obtain the debit and credit card information of people using the machines. The devices consisted of an overlay on the card reader which
The use of cheques is decreasing while various forms of electronic payments are on the rise. Is there any reason to maintain the paper-based cheque system and the legal framework in which it operates?
What are the key duties of the customer and the bank?
Stephen, Eric, and the Kaptor Group were all customers of the same bank. Stephen was involved in a business arrangement with the Kaptor Group, pursuant to which he made regular payments to Kaptor by
In 2015, it was discovered that 1859 individuals linked to Canada, including a number of prominent billionaires, had secretly been keeping money in HSBC’s Swiss private bank, presumably in some
What are the key issues addressed in an account agreement?
How are banks regulated?
Retail merchants are caught between their customers and the credit card companies. Customers want their cards to be accepted, especially those offering attractive rewards to card users. Meanwhile,
What is the basic nature of the bank–customer relationship?
Grenville agreed to facilitate transfers of funds from a Taiwanese businessman who he did not know. Grenville was to deposit cheques in his account and forward the funds to Asian accounts in exchange
What is the difference between legal multi-level selling and pyramid selling?
What is the selling practice known as “bait and switch”?
What is the meaning of “ordinary price” in evaluating the promotion of goods?
What is bid rigging?
When is it acceptable to state “recommended retail price” on a product?
What a conspiracy to fix prices?
What is deceptive telemarketing?
What is abuse of dominant position?
What is a due diligence defence?
What are the main purposes of competition law?
What does Advertising Standards Canada do?
Smart Sales Inc. is a big box retailer, specializing in consumer electronics. Smart Sales intends to advertise that it will “Match any competitor’s price on all Orange brand computers.” The
What is the purpose of the Consumer Products Safety Act?
The National Do Not Call List (DNCL) is intended to prohibit telemarketers from calling consumers who have added their phone numbers to be on the DNCL.Is this an effective approach for controlling
Great Buys Inc. imports a wide range of consumer goods from China for online resale in Canada. One of their most popular products are cell phone and laptop replacement batteries, which use lithium
What is an unfair practice?
Bliss Entertainment is a concert promoter. Each year, Bliss organizes a music festival in Regina that features a number of live acts that perform over the course of a weekend. Bliss advertises and
Does consumer protection law place too great a burden on business? Is protecting consumers worth the additional regulation and the transaction costs that come with the additional regulation?
Are businesses generally familiar with the laws relating to consumer protection and competition? Do most businesses comply with these laws?
What is drip pricing, and should all extra fees have to be disclosed up front in advertisements and marketing materials?
How do the rules in the Sale of Goods Act determine when ownership of goods passes from the seller to the buyer?
When do the rules in the Sale of Goods Act regarding the transfer of title apply to a sale of goods transaction?
What are “unascertained” goods?
What are “specific” goods?
What rules apply to a contract for the international sale of goods?
Why does risk of loss (such as loss from fire or theft) not always fall on the party who is in possession of the goods in a sale of goods transaction? Is this a good rule?
What is an example of a condition implied by the Sale of Goods Act into a contract for the sale of goods?
What is the difference between an implied condition and an implied warranty under the Sale of Goods Act?

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