In Canada contract law uses common law obligations and liabilities, and meanwhile contract laws have been developed to make up for the inadequacies of the common law. As a consequence, there are three major categories of laws including facilitating business, protecting consumers, and safeguarding the marketplace to deal with legal issues in Canadian businesses in the modern world. Please dispute and discuss how three major categories of laws (or any one of them) apply to businesses. Please apply three major categories of laws (or any one of them) to issues that are encountered at a managerial level.

Case Study: How Laws and Culture Hold Back Socially Minded Companies by George Serafeim, Daniels Saltzman, and Bronagh Ward

Kindly answer the following questions basing it on the case study mentioned above.

To make companies to be purpose-driven, the case suggests that both culture and laws play an important role. What is the main idea of the case study? To your understanding, what is Corporate Social Responsibility? Do you think which one, culture or laws is more important in shaping how firms behave? Or both are important? And why? Please argue how culture as informal rules and law as formal rules influence and govern the behavior of organization and individuals.