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LEGL601 Commercial and Corporations Law

10 cp
Prerequisites Nil
Teaching Organisation 3 hours per week for twelve weeks or equivalent.

The purpose of this unit is to examine the main principles of company law and commercial law as they affect accountants. The vast majority of businesses, of any size, are companies. Therefore, to function in the business environment it is important to understand the basic principles of company law. Apart from lawyers, accountants are the largest professional group that interacts with corporate structures and it is important that they understand the workings of, administration and limitations of company structures under the Corporations Act. Companies conduct the majority of their activities through contract law. Accountants need a working knowledge of the law of contract.

Emphasis in this unit will be placed on understanding the legal effects of incorporation, the liability of companies, the laws relating to the raising and maintenance of capital, the responsibility for management of companies, the proper conduct of companies, protection of shareholders and options for companies in financial distress, common law and statutory rules applicable to contract, offer, acceptance, intention to establish legal relations, performance of contracts, remedies for breach of contract.

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