Examlex
Regulations are in place at Toronto's Pearson Airport to control the operation of taxi cabs.Daniel simply ignored those regulations.He was a persistent "scooper" who routinely picked up passengers at the airport even though he did not have a permit.He was charged more than 20 times with trespassing, but he simply shrugged off the fines.The airport authorities therefore decided to take more drastic measures.During one of Daniel's frequent visits, an airport inspector attempted to make a citizen's arrest.A scuffle occurred after the inspector put his hand on Daniel's shoulder and tried to detain him.Daniel knocked the inspector down and fled the scene.The airport inspector had acted under section 9(1) of the Trespass to Property Act, which says that a "police officer, or the occupier of premises, or a person authorized by the occupier may arrest without warrant any person he or she believes on reasonable and probable grounds to be on the premises" improperly.That provision does not expressly allow a citizen to use force during an arrest.In these circumstances, a court will say that
Annuity
An investment vehicle that provides a consistent series of payments to a person, mainly serving as a source of income for those who have retired.
Compound Interest
Interest on a loan or deposit calculated based on both the initial principal and the accumulated interest from previous periods.
Present Value
The assessed present-day value of money to be received in the future or a pattern of cash inflows, factoring in an established rate of return.
Effective Rate
is the actual interest rate that an investment earns or a loan incurs, including the effects of compounding over a given period.
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