The subject provides an introduction to the law regulating business in Australia today. It seeks to develop students' knowledge and understanding of the Australian legal system and sources of law in Australia, the commercial legal responsibilities and risks of doing business, key aspects of the law of torts, contracts and consumer protection, and the law associated with starting, managing, financing and closing companies and other business entities. By focusing on the legal responsibilities and risks that have a substantial impact on business, the subject highlights the important role that law plays in business decision-making.
|Academic unit:||Faculty of Law|
|Subject title:||Business Law|
Delivery & attendance
|Prescribed resources:|| |
|[email protected] & Email:||[email protected] is the online learning environment at Bond University and is used to provide access to subject materials, lecture recordings and detailed subject information regarding the subject curriculum, assessment and timing. Both iLearn and the Student Email facility are used to provide important subject notifications. Additionally, official correspondence from the University will be forwarded to students’ Bond email account and must be monitored by the student.|
To access these services, log on to the Student Portal from the Bond University website as www.bond.edu.au
|Restrictions: ?|| This subject is not available to|
This subject is not available as a general elective. To be eligible for enrolment, the subject must be specified in the students’ program structure.
Assurance of learning
Assurance of Learning means that universities take responsibility for creating, monitoring and updating curriculum, teaching and assessment so that students graduate with the knowledge, skills and attributes they need for employability and/or further study.
At Bond University, we carefully develop subject and program outcomes to ensure that student learning in each subject contributes to the whole student experience. Students are encouraged to carefully read and consider subject and program outcomes as combined elements.
Program Learning Outcomes (PLOs)
Program Learning Outcomes provide a broad and measurable set of standards that incorporate a range of knowledge and skills that will be achieved on completion of the program. If you are undertaking this subject as part of a degree program, you should refer to the relevant degree program outcomes and graduate attributes as they relate to this subject.
Subject Learning Outcomes (SLOs)
On successful completion of this subject the learner will be able to:
- Demonstrate coherent knowledge and understanding of Australian business law, including the Australian legal system and sources of law; the key features and purposes of the law of torts, contracts and consumer protection; and the identification of various business structures and the legal regulation of companies.
- Communicate knowledge and understanding of Australian business law clearly and effectively, whether orally or in writing.
- Use knowledge and understanding of Australian business law to solve commercial legal problems by identifying, analysing and explaining the legal responsibilities and risks of doing business.
- Navigate through legal information environments, including online legal resources, with independence and initiative.
- Appreciate their legal, social and professional responsibilities to their peers, their profession and their community.
|*Class Participation||Tutorial preparation and participation||15%||Ongoing||1, 2, 3, 4, 5.|
|*Presentation Plan||n/a||15%||Week 7||1, 2, 3, 4, 5.|
|Paper-based Examination (Open)||Final exam||50%||Final Examination Period||1, 2, 3.|
|Paper-based Examination (Closed)||Mid Semester Exam||20%||Week 7 (Mid-Semester Examination Period)||1, 2, 3.|
- * Assessment timing is indicative of the week that the assessment is due or begins (where conducted over multiple weeks), and is based on the standard University academic calendar
- C = Students must reach a level of competency to successfully complete this assessment.
|High Distinction||85-100||Outstanding or exemplary performance in the following areas: interpretative ability; intellectual initiative in response to questions; mastery of the skills required by the subject, general levels of knowledge and analytic ability or clear thinking.|
|Distinction||75-84||Usually awarded to students whose performance goes well beyond the minimum requirements set for tasks required in assessment, and who perform well in most of the above areas.|
|Credit||65-74||Usually awarded to students whose performance is considered to go beyond the minimum requirements for work set for assessment. Assessable work is typically characterised by a strong performance in some of the capacities listed above.|
|Pass||50-64||Usually awarded to students whose performance meets the requirements set for work provided for assessment.|
|Fail||0-49||Usually awarded to students whose performance is not considered to meet the minimum requirements set for particular tasks. The fail grade may be a result of insufficient preparation, of inattention to assignment guidelines or lack of academic ability. A frequent cause of failure is lack of attention to subject or assignment guidelines.|
For the purposes of quality assurance, Bond University conducts an evaluation process to measure and document student assessment as evidence of the extent to which program and subject learning outcomes are achieved. Some examples of student work will be retained for potential research and quality auditing purposes only. Any student work used will be treated confidentially and no student grades will be affected.
Students must check the [email protected] subject site for detailed assessment information and submission procedures.
Policy on late submission and extensions
A late penalty will be applied to all overdue assessment tasks unless an extension is granted by the subject coordinator. The standard penalty will be 10% of marks awarded to that assessment per day late with no assessment to be accepted seven days after the due date. Where a student is granted an extension, the penalty of 10% per day late starts from the new due date.
Policy on plagiarism
University’s Academic Integrity Policy defines plagiarism as the act of misrepresenting as one’s own original work: another’s ideas, interpretations, words, or creative works; and/or one’s own previous ideas, interpretations, words, or creative work without acknowledging that it was used previously (i.e., self-plagiarism). The University considers the act of plagiarising to be a breach of the Student Conduct Code and, therefore, subject to the Discipline Regulations which provide for a range of penalties including the reduction of marks or grades, fines and suspension from the University.
Feedback on assessment
Feedback on assessment will be provided to students within two weeks of the assessment submission due date, as per the Assessment Policy.
Accessibility and Inclusion Support
If you have a disability, illness, injury or health condition that impacts your capacity to complete studies, exams or assessment tasks, it is important you let us know your special requirements, early in the semester. Students will need to make an application for support and submit it with recent, comprehensive documentation at an appointment with a Disability Officer. Students with a disability are encouraged to contact the Disability Office at the earliest possible time, to meet staff and learn about the services available to meet your specific needs. Please note that late notification or failure to disclose your disability can be to your disadvantage as the University cannot guarantee support under such circumstances.
Subject overview, the Australian legal system and sources of law (case law, legislation etc), and discussion of the interplay between business and the legal system.
Potential tortious risks of doing business in Australia.
Key features and purpose of contract law, including contract formation rules and express terms.
Contract performance, breach and remedies. Discussion of the major consumer based laws in Australia, including the ACL and the state Sale of Goods Acts. The lecture will focus on the most significant aspects of the protections these laws provide.
Business structures other than corporations - sole traders, trusts, partnerships, joint ventures, franchise agreements etc. The lecture will discuss the advantages and disadvantages of the various structures and when they are used, as well as agency principles.
The history of corporations will be explored, together with the various types of corporations and fundamental concepts such as limited liability and the corporation as a separate legal entity. The lecture will also address how corporations are registered, and the powers which a company has and how these can be exercised.
In class exam
The first half of the lecture will focus on the role and duties of promoters (including pre-registration contracts). The second half of the lecture will discuss the rules relating to the company's constitution. This lecture will also address how a corporation interacts with third parties and certain assumptions that third parties can make when dealing with the company.
The lecture will explore the role and rights of members. It will also discuss the debt, equity and fundraising options available to corporations and the rules relating thereto.
This lecture will identify the role of directors, their powers and basic obligations. The lecture will then provide an introduction to directors' duties and a discussion of the duty of good faith and proper purpose and conflicts of interest (including sections 182 and 183).
Duty of care and diligence, section 588G and the consequences directors face for breaching their duties.
Discussion of shareholder remedies, including oppression under section 232 and derivative claims under sections 236 and 237. The lecture will also address the different kinds of external administration available in Australia (liquidators, voluntary administration and receivership).