Which One of the Following Statements Is Not Accurate with Respect

question 87

Multiple Choice

Which one of the following statements is not accurate with respect to the Canadian legal system?

• A) The three major components of present Canadian law are the common law, equity, and statutes.
• B) The traditional supremacy of Parliament to make law has been limited to some extent by the Charter of Rights and Freedoms.
• C) The full normal route of a civil action is from a provincial trial court to a provincial Court of Appeal to the Supreme Court of Canada.
• D) The principle of stare decisis provides that courts within a province are bound to follow previous decisions on the same legal point from the courts of other provinces.
• E) The original Canadian Constitution is now known as the Constitution Act, 1867.

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Definitions:

Firm's Debt

The total amount of money that a company owes to creditors, including loans, bonds, and other financial liabilities.

Put Contracts

Financial derivatives that give the holder the right, but not the obligation, to sell a specific amount of a security at a specified price within a specified time period.

Underlying Stock

The stock that is the basis for a particular derivative instrument, such as an option.

Market Value

The current quoted price at which an asset or company can be bought or sold on the open market.