Business Associations is a compulsory subject in the Bachelor of Laws program offered by the Faculty of Law. This subject introduces students to the law regulating commercial associations. It examines the law of principal and agent, partnerships, franchising, joint ventures, and incorporated and unincorporated associations. It also introduces students to the incorporation process and the concept of corporate personality, share capital, promoters, pre-registration contracts, corporate capacity, the authority of corporate organs and agents and the use of trusts in commercial enterprises.
|Academic unit:||Faculty of Law|
|Subject title:||Business Associations|
Delivery & attendance
|Attendance and learning activities:||You should attend all classes. Most classes build on the work of the previous one, and it may be difficult for you to recover if you miss a class. Attendance in tutorials will be monitored, and missing tutorials may have an impact upon your final mark in this subject. If you miss a class you are also responsible for obtaining any information or materials provided during the class. Though lectures may be streamed, no guarantee is given that the technology will deliver each lecture and streaming should be used ONLY as a backup in case of illness or as a tool for revision.|
|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
There are no co-requisites.
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:
- Understand the importance of agency and the integration of the law of agency in different business associations.
- Understand the legal differences between various business structures and their advantages and disadvantages.
- Participate in solving problem based questions in a group environment.
|*Class Participation||Tutorial participation||20%||Ongoing||2, 3.|
|*Competency Test §||Client interviewing and briefing of principal exercise||20%||Week 6||1, 2, 3.|
|Paper-based Examination (Limited Open)||End of semester examination||60%||Final Examination Period||1, 2.|
- § Indicates group/teamwork-based assessment
- * 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.
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.
Overview - Choosing a Business Entity
The Law of Agency; Creation, Categories, Authority of Agent; Duties of Agent.
Creation at Common Law; Partnership Act 1891; Essential Elements of a Partnership; Relationship with 3rd Parties; Liability of Partners; Partnership Property; Dissolution.
Distinction between Joint Venture and Partnership; Unincorporated and Incorporated Associations; Associations Incorporations Act 1981.
What is a Trust; Essential elements; Types of Trusts; Advantages and Disadvantages; Family Discretionary Trusts; Unit Trust.
History; Legislative Framework; Origins and development of Corporations Law in Australia; Promoters and Pre-Incorporation contracts.
Consequences of Registration; Limited Liability; Corporate Veil; Procedural Steps involved in registration.
Corporate v Non-corporate Entities; Classification of Corporations; Public and Private Corporations; Trustee Companies; Constitution; Replaceable Rules.
Dealings with Third Parties; Statutory Assumptions.
General Nature; Issuing Shares; Classes of Shares; Shareholders Protection.
Definition; Code of Conduct; Franchise Agreement; Disclosure Documents.
Supplementary Materials and Revision