Course Outline
BULAW1503
Commercial Law
School/Division:
Business
Course Title:
Commercial Law
Course Code:
BULAW1503
Level:
Introductory or Advanced
Pre-requisites:
BULAW1502 Fundamentals of Law with a minimum MF grade.
Co-requisites:
Nil
Exclusions:
Nil
Progress Points:
15
ASCED Code:
080399
Objectives:
Knowledge – so you can understand
•
•
•
•
•
•
understand the role of law in society, in particular, statute
law;
appreciate the effects of law on commercial life;
understand the extension of the contractual relationship to
commercial transactions;
know legal principles in the areas of insurance, sale of
goods, bankruptcy and negotiable instruments and
negligence;
appreciate the relevance of these areas to business
transactions and the operation of business;
understand measures to employ in the management of legal
risk;
Skills – to;
•
•
•
further develop your written and oral skills;
develop your ability to undertake independent research;
enhance your ability to work cooperatively with others in
Approved – Programs Committee – 3/09 [22/4/2009]
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CRICOS Provider Number 00103D
Course Outline – BULAW1503
Commercial Law
•
•
groups;
reflect on your learning;
evaluate the work of your peers;
Attitudes and Values – so you can;
•
•
develop an attitude to learning that views reading, reflection
and group discussion as essential;
appreciate creative and innovative ways of thinking and
working;
Content:
This subject covers the following topic areas:
Topic 1
Agency: ( 5-6 class contact hours)
• Introduction to Agency
• Creation of Agency
• Duties of the Agent and Principle
• Contractual relationships and the Agent
Topic 2
Insurance: (9-10 class contact hours)
This topic may cover some or all of the following:
•
•
•
•
•
the significance of insurance to business;
contracts and insurance
an explanation of an insurance contract and of the difference
between general insurance and life assurance policies;
the range of regulatory bodies and mechanisms that impact
on insurance;
the applicability to insurance contracts of:
o general contractual principles;
o the common law; and
o the Insurance Contracts Act 1984 (Cth) and s 985B of
the Corporations Act 2001 (Cth) [which replaced the
Insurance (Agents and Brokers) Act 1984 (Cth)];
•
an explanation of the concepts fundamental to
insurance law, as well as the relationship between
those principles and, in particular, the effect of case law
and the ICA on:
o utmost good faith;
o duty of disclosure;
o misrepresentation;
o indemnity;
o remedies;
o insurable interest; and
o subrogation;
•
how claims might be proved and an explanation and
Approved – Programs Committee – 3/09 [22/4/2009]
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CRICOS Provider Number 00103D
Course Outline – BULAW1503
Commercial Law
•
•
interpretation of the terms of a policy;
the relationship between insurer, insured, agents/brokers;
and
the impact of legislative reforms on insurance and the
effectiveness of these changes.
Topic 3
Bankruptcy: ( 6 - 7 class contact hours)
This topic may cover some or all of the following:
• the relevance of ‘credit management’ to business;
• the options available to people in business in dealing
with financial distress;
• the rationale for legal remedies in such situations;
• the purpose and apparatus of the Bankruptcy Act 1966
(Cth) and, in particular:
o the administrative functions;
o
•
•
•
•
•
•
the methods of making a debtor bankrupt and the
procedures involved including debtor’s petitions,
creditors’ petitions, and sequestration orders; and
o possible arrangements with creditors outside
bankruptcy (Part 9 and Part 10 arrangements);
Part 9 and Part 10 arrangements with bankruptcy;
how to identify the key issues involved when
considering the administration of a bankrupt’s property
and, in particular:
o the steps required from creditors;
o the range of property available to the trustee, and
those items/transactions that would not be
available or could be retained by third parties
who had dealt with the bankrupt;
the order of priority in which the trustee would be
required to pay creditors;
how to identify the methods by which a bankrupt
becomes discharged and the effect thereof; and
the rights, duties and powers of trustees in bankruptcy.
bailment
Topic 4
Sale of goods: (8 - 9 class contact hours)
This topic may cover some or all of the following:
•
the relevance of Sale of Goods legislation to business,
including the Fair Trading Act 1999 (Vic), Goods Act 1958
(Vic) and Trade Practices Act 1974 (Cth);
•
the historical background and current role of these three
pieces of legislation in commercial transactions;
the statutory modifications made to common law
contract and the extended protection given to
•
Approved – Programs Committee – 3/09 [22/4/2009]
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CRICOS Provider Number 00103D
Course Outline – BULAW1503
Commercial Law
•
•
•
•
•
•
consumers;
how to identify a contract for sale of goods;
the requisite components under these three pieces of
legislation to establish due performance of a contract for
sale of goods;
the terms implied into contracts for sale of goods by
virtue of these three pieces of legislation;
how to identify when ownership in goods passes
according to these three pieces of legislation and
appreciate the relevance of needing to do so;
the nemo dat rule and its exceptions; and
the sections of these three pieces of legislation that
provide remedies available to both buyers and sellers in
goods transactions.
Topic 5
The financial system and negotiable instruments: (4 – 6
class contact hours)
This topic may cover some or all of the following:
• the financial system operating in Australia;
• the nature of the banker–customer relationship;
• negotiable instruments, and their attributes and use in
commerce;
• how to identify a bill of exchange under the Bills of
Exchange Act 1909 (Cth);
• an explanation of how a bill of exchange is negotiated
and the roles of the parties involved in the process;
• the liability of parties to the bill;
• how to identify a cheque under the Cheques Act 1986
(Cth);
• how to distinguish between cheques and bills of
exchange; and
• an explanation of the role of parties to a cheque and the
legal consequences of various forms of dating, crossing
and indorsing cheques.
Topical issues and reforms may also be discussed.
Approved – Programs Committee – 3/09 [22/4/2009]
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CRICOS Provider Number 00103D
Course Outline – BULAW1503
Commercial Law
Learning Tasks & Assessment:
Learning Task
Assessment
• Discussion in class
Test
• Comprehending
prescribed texts and
undertaking further
research
• Critical thinking and
analysis
• Consolidation of
understanding of basic
concepts, cases,
legislation and
communicating that orally
or in writing
•
•
•
•
reading
revising readings
researching law
analysis and critical
thinking
writing
• study and revision
• interpreting and analysing
statutes
• problem solving
summarising and analysing
cases
Weighting
15%
Written assignment
35%
Examination*
50%
Note on Assessment
The School has adopted a policy that a minimum of 50% of assessment tasks will be required
to be Verifiable Assessment. Verifiable Assessment refers to assessment which is conducted
under the supervision of an academic staff member, e.g. an exam, presentation, in class tests
etc.
The assessment tasks deemed as verifiable are denoted with an asterisk. In order to pass
this course students must:
1
2
Achieve at least 50% of the total marks available for the verifiable tasks
Achieve a minimum 50% overall for the course
Students are strongly advised to attempt ALL assessment tasks. Students who do not submit
a task(s) or a fail task(s) in the teaching period will be identified as a ‘student at risk’ of
unsatisfactory academic progress (outlined in 1.20 in the Course Description and in more
details in the School’s website) and will be directed to the School’s Intervention Program.
Approved – Programs Committee – 3/09 [22/4/2009]
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CRICOS Provider Number 00103D
Course Outline – BULAW1503
Commercial Law
Adopted Reference Style
APA
Australian
MLA
Chicago
Other (please specify)
APA, preferred. Australian, and Chicago referencing styles are acceptable. The style must be
consistent.
The link to the library website for more information is: UB Library - Citation guides
Approved – Programs Committee – 3/09 [22/4/2009]
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CRICOS Provider Number 00103D
Course Handbook Entry:
BULAW1503
Commercial Law
Course Title & Code:
Commercial Law BULAW1503
Credit Points:
15
Offered:
Semester 1 & 2
Prerequisite(s):
BULAW1502 Fundamentals of Law with a minimum MF grade
Corequisite(s):
Nil
Exclusions(s):
Nil
Content:
This subject covers the following topic areas:
Topic 1
Agency: (5-6 class contact hours)
• Introduction to Agency
• Creation of Agency
• Duties of the Agent and Principle
• Contractual relationships and the Agent
Topic 2
Insurance: (9-10 class contact hours)
This topic may cover some or all of the following:
•
•
•
•
•
•
the significance of insurance to business;
contracts and insurance
an explanation of an insurance contract and of the difference between general
insurance and life assurance policies;
the range of regulatory bodies and mechanisms that impact on insurance;
the applicability to insurance contracts of:
o general contractual principles;
o the common law; and
o the Insurance Contracts Act 1984 (Cth) and s 985B of the Corporations
Act 2001 (Cth) [which replaced the Insurance (Agents and Brokers) Act
1984 (Cth)];
an explanation of the concepts fundamental to insurance law, as well as the
relationship between those principles and, in particular, the effect of case law and
the ICA on:
Approved – Programs Committee – 3/09 [22/4/2009]
Page 7 of 9
CRICOS Provider Number 00103D
Higher Education
Course Handbook Entry: BULAW 1503
o
o
o
o
o
o
o
•
•
•
utmost good faith;
duty of disclosure;
misrepresentation;
indemnity;
remedies;
insurable interest; and
subrogation;
how claims might be proved and an explanation and interpretation of the terms of
a policy;
the relationship between insurer, insured, agents/brokers; and
the impact of legislative reforms on insurance and the effectiveness of these
changes.
Topic 3
Bankruptcy: ( 6 - 7 class contact hours)
This topic may cover some or all of the following:
• the relevance of ‘credit management’ to business;
• the options available to people in business in dealing with financial distress;
• the rationale for legal remedies in such situations;
• the purpose and apparatus of the Bankruptcy Act 1966 (Cth) and, in
particular:
o the administrative functions;
o
•
•
•
•
•
•
the methods of making a debtor bankrupt and the procedures involved
including debtor’s petitions, creditors’ petitions, and sequestration orders;
and
o possible arrangements with creditors outside bankruptcy (Part 9 and
Part 10 arrangements);
Part 9 and Part 10 arrangements with bankruptcy;
how to identify the key issues involved when considering the administration
of a bankrupt’s property and, in particular:
o the steps required from creditors;
o the range of property available to the trustee, and those
items/transactions that would not be available or could be retained
by third parties who had dealt with the bankrupt;
the order of priority in which the trustee would be required to pay creditors;
how to identify the methods by which a bankrupt becomes discharged and
the effect thereof; and
the rights, duties and powers of trustees in bankruptcy.
bailment
Topic 4
Sale of goods: (8 - 9 class contact hours)
This topic may cover some or all of the following:
•
the relevance of Sale of Goods legislation to business, including the Fair Trading
Act 1999 (Vic), Goods Act 1958 (Vic) and Trade Practices Act 1974 (Cth);
•
the historical background and current role of these three pieces of
legislation in commercial transactions;
Approved – Programs Committee – 3/09 [22/4/2009]
Page 8 of 9
CRICOS Provider Number 00103D
Higher Education
Course Handbook Entry: BULAW 1503
•
•
•
•
•
•
•
the statutory modifications made to common law contract and the extended
protection given to consumers;
how to identify a contract for sale of goods;
the requisite components under these three pieces of legislation to
establish due performance of a contract for sale of goods;
the terms implied into contracts for sale of goods by virtue of these three
pieces of legislation;
how to identify when ownership in goods passes according to these three
pieces of legislation and appreciate the relevance of needing to do so;
the nemo dat rule and its exceptions; and
the sections of these three pieces of legislation that provide remedies
available to both buyers and sellers in goods transactions.
Topic 5
The financial system and negotiable instruments: (4 – 6 class contact hours)
This topic may cover some or all of the following:
• the financial system operating in Australia;
• the nature of the banker–customer relationship;
• negotiable instruments, and their attributes and use in commerce;
• how to identify a bill of exchange under the Bills of Exchange Act 1909
(Cth);
• an explanation of how a bill of exchange is negotiated and the roles of the
parties involved in the process;
• the liability of parties to the bill;
• how to identify a cheque under the Cheques Act 1986 (Cth);
• how to distinguish between cheques and bills of exchange; and
• an explanation of the role of parties to a cheque and the legal
consequences of various forms of dating, crossing and indorsing cheques.
Topical issues and reforms may also be discussed.
Approved – Programs Committee – 3/09 [22/4/2009]
Page 9 of 9
CRICOS Provider Number 00103D