Module Identifier
LPM0140
Module Title
BUSINESS LAW AND PRACTICE
Academic Year
2008/2009
Co-ordinator
Professor John R Williams
Semester
Semester 2
Co-Requisite
LPM0215
Co-Requisite
LPM0325
Co-Requisite
LPM0405
Co-Requisite
LPM0505
Co-Requisite
LPM0610
Co-Requisite
LPM1310
Co-Requisite
LPM0810
Co-Requisite
LPM0910
Co-Requisite
LPM1010
Co-Requisite
LPM1110
Co-Requisite
LPM1210
Co-Requisite
LPM0710

Course Delivery

Delivery Type Delivery length / details
Lecture Large Group Session
Seminars / Tutorials Small Group Sessions
 

Assessment

Assessment Type Assessment length / details Proportion
Semester Exam 4 Hours   Examination  Timetabled outside normal exam period  100%
Supplementary Assessment 4 Hours   Supplementary Resit  100%

Learning Outcomes

On successful completion of this module students should be able to:

1. Be aware of how businesses are structured and the legal consequences and obligations arising be from the establishment of a business media;

2. Identify the client's goals and to advise clients on the means available for achieving those goals and on how to devise a strategy for obtaining an objective;

3. Advise and represent the different parties involved in a business operation or transaction;

4. Identify legal issues arising in a business law context and be able to communicate those issues to a business client;

5. Have obtained the skills necessary to carry out relevant and focused legal research on legal issues arising from business decisions and business transactions;

6. Demonstrate an understanding of the status and purpose of primary source material as appropriate;

7. Appreciate the distinct needs of business clients as a group;

8. Be able to act effectively on client's instructions to carry out business transactions;

9. Have obtained the skills necessary to draft relevant documentation with clarity;

10. Recognise conflicts of interest and act within the rules of professional conduct and be aware of client care issues;

11. Demonstrate an understanding of, and be able to advise on, business finance;

12. Demonstrate an understanding of EC Competition Law and its impact on businesses operating in the United Kingdom;

13. Have an understanding of the role of national agencies advising and assisting businesses in Wales and of the opportunities available for economic development in Wales.

Brief description

The module ensures that students understand the nature and structure of the different business media (sole traders, partnerships and companies), select an appropriate medium and structure to meet the client's commercial requirements and advise on the legal, taxation implications of and the procedures required in common form transactions and developments arising during the life and development of the business.

Aims

To fulfil the University'r academic aims and strategic objectives and in particular to broaden and enhance its portfolio of legal programmes and to teach, train and educate its students in such a way that they are fully equipped to enter the world of work as solicitors. The Department through a Centre for Legal Practice aims to stimulate enterprise and improve training and offer a rigorous and practical outcome to academic law.
The Law Department has at present no postgraduate provision in legal professional education. The Department recognised the need to establish a unit which will deliver the Legal Practice Course and which will fulfil the aims of cooperation and collaboration as a part of Legal Wales.
The module of Business Law and Practice delivers this requirement in the context of Business transactions using the knowledge element of business law and the practical element of its application. It is the largest module and has more formal teaching time.

Content

1. Starting a Business
Introduction to the different types of business media: sole trader, company, partnership and mere contractual relationship. Focusing on the legal implications of business structures and the issues facing all businesses when setting up such as: accounting; VAT; NI; and insurance. The implications of employing staff will also be dealt with.

2. Running a Business as a Company
Considering the formation and constitution of a company limited by shares, the role and rights of members, the appointment, role, obligations and status of directors. The dealings in and with company shares and debentures and on the documentation required in the formation of a company limited by shares.

3. Running a Business as a Partnership
The nature of partnership and setting up a partnership by agreement together with the content and form of agreement. Consideration will be given to partner's responsibilities and to potential liabilities. Dissolution will also be dealt with.

4. Choosing the Medium
Building on the learning in parts 2 and 3. The focus will be on finance and debt, taxation considerations, profit sharing and organisational control.

5. Insolvency
Corporate and personal insolvency. The focus will be on insolvency procedures and the effect of insolvency on companies and individuals. Company Voluntary Arrangements and Individual Voluntary Arrangements will also be dealt with.

6. Taxation
The taxation of companies, partnerships and sole traders, the obligations to account, and VAT. Consideration will also be given to the taxation of employees and directors.

7. Trading Considerations
The practical aspects of running a business such as: the obligations of the seller and buyer in a contract for the sale of goods; marketing agreements and distribution agreements. EC competition law.

Module Skills

Skills Type Skills details
Application of Number Students are expected to be numerate and will have to understand, explain and be assessed on Double entry Trial balances Final accounts Adjustments Company accounts Partnership accounts
Communication Students will act in groups and be expected to communicate to the session as a whole. Oral communication skills will be mainly developed in the SGS and questions, answers and tasks will be encouraged in Lectures (LGS) as all the sessions will be interactive. Written communication skills are developed in drafting exercises.
Improving own Learning and Performance Students will learn in an interactive environment and be expected to develop their understanding and skills in independent learning. The module demands reading, preparation for LGS and SGS, relevant research and reflection on the problems and case studies.
Information Technology Modern legal work relies on electronic sources and drafting. Students will be expected to draft business documents, accounts and contracts using electronic precedents. All materials will be placed on the Blackboard site Most of the legal research will require use of the electronic or online legal documents and cases
Personal Development and Career planning The subject area of Business Law and Practice is required for their future career as are the practice of the pervasive subject skills below which are embedded in the teaching.
Problem solving The subject is based on solving client problems and identifying the correct practical and legal steps. Students will be expected to choose between different approaches, different forms of business arrangements and be faced with having to choose between alternative solutions.
Research skills All sessions require independent legal research; the ability to use Library resources, electronic precedents and locate and act on the correct material will be developed in Small Group Sessions (SGS).
Subject Specific Skills Writing/drafting/ Practical legal research/solicitors and business accounts/Interviewing
Team work All SGS are tutor facilitated with students working in groups of two, three or four. Future solicitors are required to demonstrate team work and this skill is developed by the format of the seminars (SGS).

Notes

This module is at CQFW Level 7