This unit is designed to familiarise students with the law affecting the main types of commercial associations used for private enterprise. Partnerships and companies are examined, with most attention being given to the latter. The practical and theoretical aspects of the law relating to the internal structure and the external relations of these organisations will be studied. The unit will satisfy the requirements of accounting students seeking admission to professional accounting organisations.

Learning outcomes

After successful completion of this unit, students will be able to:
1. Demonstrate a thorough knowledge of the law relevant to the main topics covered in the unit;
2. Develop effective strategies in researching, identifying and applying the relevant law in legal problem solving;
3. Analyse material from a variety of sources to produce a coherent piece of advice for a hypothetical client, outlining the likely legal consequences of certain actions or inactions in areas including directors驴 duties, corporate financing and external administration; and
4. Identify and discuss selected ethical issues related to the application of the law in a business context.

Graduate attributes

1. UC graduates are professional - employ up-to-date and relevant knowledge and skills
1. UC graduates are professional - communicate effectively
1. UC graduates are professional - use creativity, critical thinking, analysis and research skills to solve theoretical and real-world problems
1. UC graduates are professional - work collaboratively as part of a team, negotiate, and resolve conflict
1. UC graduates are professional - display initiative and drive, and use their organisation skills to plan and manage their workload
1. UC graduates are professional - take pride in their professional and personal integrity
2. UC graduates are global citizens - think globally about issues in their profession
2. UC graduates are global citizens - adopt an informed and balanced approach across professional and international boundaries
2. UC graduates are global citizens - understand issues in their profession from the perspective of other cultures
2. UC graduates are global citizens - communicate effectively in diverse cultural and social settings
2. UC graduates are global citizens - behave ethically and sustainably in their professional and personal lives
3. UC graduates are lifelong learners - reflect on their own practice, updating and adapting their knowledge and skills for continual professional and academic development
3. UC graduates are lifelong learners - adapt to complexity, ambiguity and change by being flexible and keen to engage with new ideas

Prerequisites

11220 Business Law.

Corequisites

None.

Incompatible units

7024 Corporations Law.

Equivalent units

8508 Law of Business Associations.

Assumed knowledge

An understanding of the Australian legal system and of the law of contracts (including formation, termination and remedies), the law of agency and the law of torts.