Which of the Following Is Correct with Respect to the Role

question 128

Multiple Choice

Which of the following is correct with respect to the role of statutes in our legal system?

• A) Where a properly passed provincial statute is in conflict with a well-established common-law principle, the statute will be void.
• B) Only the federal parliament may enact statutes.
• C) A statute, if it is clear and concise and properly passed, will always override common law and equity.
• D) In Canada, most new law follow the Civil Code legal system.
• E) Once a statute has been interpreted and applied in a court, a subsequent judge in a lower court is not required to follow that decision if he disagrees with it.

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Definitions:

Equity Method

An accounting technique used by a company to record its investment in another company based on the profit or loss and changes in the investee's equity.

Dividend Income

Earnings received from owning shares in a company, typically distributed from the company's profits.

Dividend Income

Income received by shareholders from the profits distributed by a company, usually in the form of cash payments.

Net Loss

The amount by which expenses exceed revenues.