Unit Code: LAW603

Unit Name: Law of Association

Description: This course provides students with an excellent grounding in the key aspects of partnerships and corporations law, including formation, operation and dissolution of partnerships, formation and management of companies, legal rules affecting the financing of companies, and how the law regulates the relationship between companies and their directors, shareholders and creditors.The course starts by considering reasons for choosing different forms of organizational structures for conducting business ? in particular why people might choose a company over other forms of business organization, as well as the implications for liability of the company existing as a separate entity that can only operate through human agents. It then considers how a company determines its internal rules ? the corporate constitution. A central part of the course is the role and function of the board of directors and responsibilities the directors have for running the company ethically and with proper care. The course then looks at the remedies available to shareholders in the event of improper management by its directors. We also consider the basic legal principles applicable to company financing (share and debt capital), before studying how the law addresses the problems of companies in financial difficulties through the processes of receivership, external administration and winding up. The course concludes by examining laws relating to trusts and succession.

Learning Target Outcomes:

Prerequisite: LAW501

Prerequisite Sentence: N/A

Credit Point: 15

Offered In: Semester 2