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SCHEDULE II / ITEM 6 October 2006 BUSINESS: LAW, ADMINISTRATION AND ECONOMICS

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CANADIAN BOARD OF EXAMINERS FOR PROFESSIONAL SURVEYORS ATLANTIC PROVINCES BOARD OF EXAMINERS FOR LAND SURVEYORS ________________________________________________________________________

SCHEDULE II / ITEM 6 October 2006 BUSINESS: LAW, ADMINISTRATION AND ECONOMICS

Note: This examination consists of 11 questions on 1 page. Marks

Q. No Time: 3 hours Value Earned

1

Define each of the following terms as it pertains to business law in Canada:

a) Power of attorney b) Performance bond c) Bearer instrument d) Mortgage rate e) Parliament f) Alienation g) Land Registration h) Restrictive covenant i) Riparian right j) Legislature k) Riparian right

l) Professional liability insurance m) Torrens system

n) Conflict of interest o) Flow-through share

20

2

Name three types sources of professional liability claims and provides examples

for each 8

3 How is the Courts system organized in Canada? 8

4 In the Canadian system, who is responsible for law making? Describe the process

of law making. 7

5 Describe three common forms of business association. 6

6 How can a contract be discharged? 10

7 Define “duress”. 5

8 What is a class action and could it impact a survey firm? If so how? 10 9 Define “fiscal policy” and provide your understanding of Canada’s fiscal policy. 10 10 Outline the differences between a private corporation, a public corporation and a

crown corporation. 10

11 Differentiate “public law” and “private law”. 6

Total Marks: 100

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