LAW4701 Commercial transactions
Faculty of Law
LAW4701 Commercial transactions is a level 4, 6-credit-point, undergraduate unit from the Faculty of Law, offered in 2021 in Summer B at Clayton. It has no prerequisites.
- Credit points
- 6
- Offered in 2021
- Summer B
- Clayton
- Assessment
- Exam 50%
- and 1 other task
- Workload
- 144 hours
- per semester
This is the 2021 handbook entry. See the 2027 entry.
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Requisites
Before LAW4701
No prerequisites or corequisites besides the enrolment rules below.
After LAW4701
No unit lists LAW4701 as a prerequisite in the 2021 handbook.
Enrolment rules
Prohibition:
- For students who commenced their LLB course prior to 2015: LAW4198
Prerequisite:
- For students who commenced their LLB (Hons) course in 2015 or later: LAW1111; LAW1114; LAW2101; LAW2112; LAW1112; LAW1113; LAW2102; LAW2111 and LAW3112
- For students who commenced their LLB course prior to 2015: LAW1100 or LAW1101 and LAW1102 or LAW1104; LAW3100 or LAW2101 and LAW2102
Overview
The unit provides an overview of legal structures and mechanisms available for the establishment and operation of businesses. It compares the available business structures including sole trader, incorporation and partnership, with a focus on partnership law. Measures for obtaining finance and ensuring payment are examined in the context of the use of negotiable instruments, and securitisation under the Personal Property Security Act 2009 (Cth). Measures for risk mitigation are examined in the context of the essential principles of insurance law. Other topics examines are the operation of the Goods Act, the Sale of Goods (Vienna Convention) Act and the law applying to intermediaries such as agents.
Offerings in 2021
| Teaching period | Campus | Mode |
|---|---|---|
| Summer semester B | Clayton | On campus |
Assessment
- Research assignmentAssignment50%
- Take home exam50%
Learning outcomes
When you finish this unit, you should be able to:
- 1
Identify, research, evaluate and synthesise relevant legal and policy issues regarding the formation and operation of businesses and the regulation of business structures and transactions;
- 2
Critically assess policies and principles, including regulatory strategies, to promote a fair and efficient marketplace and community;
- 3
Demonstrate legal research and reasoning skills and professional judgement to generate appropriate responses to complex legal problems;
- 4
Apply intellectual and practical skills to interpret, synthesise and apply legislative provisions and case law;
- 5
Communicate in ways that are effective, appropriate and persuasive;
- 6
Evaluate the role of law in regulating and facilitating commercial transactions.
Workload and teaching
- Lectures36 hours
- Teaching approachActive learning
Minimum total expected workload to achieve the learning outcomes for this unit is 144 hours per semester typically comprising a mixture of scheduled learning activities and independent study. The unit requires on average three/four hours of scheduled activities per week. Scheduled activities may include a combination of teacher directed learning, peer directed learning and online engagement.
Learning resources
Required resources
See the Moodle unit page for prescribed and recommended resources. Prescribed texts are usually available for purchase through the University Bookstore and are sometimes available for short-term loan or as eBooks through the library.
Contacts
- Chief Examiners
- Dr George Raitt
Common questions
What are the prerequisites for LAW4701?
LAW4701 has no prerequisites, but enrolment rules apply.
When is LAW4701 offered?
In 2021, LAW4701 runs in Summer B at Clayton.
How much work is LAW4701?
The handbook expects about 144 hours of study across the semester. No students have rated its difficulty yet.
Does LAW4701 have an exam?
Yes. The exam is worth 50% of the final mark, alongside 1 other task.