Note: This is an archived Handbook entry from 2012.
|Dates & Locations:|| |
This subject has the following teaching availabilities in 2012:Semester 2, Parkville - Taught on campus.
Timetable can be viewed here. For information about these dates, click here.
|Time Commitment:||Contact Hours: Two 2-hour seminars per week. |
Total Time Commitment: 144 hours.
Legal Method and Reasoning; Principles of Public Law; Obligations; Contracts; Property or in each case their equivalents.
|Recommended Background Knowledge:||None.|
|Non Allowed Subjects:||None.|
|Core Participation Requirements:||
For the purposes of considering requests for Reasonable Adjustments under the Disability Standards for Education (Cwth 2005), and Students Experiencing Academic Disadvantage Policy, academic requirements for this subject are articulated in the Subject Description, Subject Objectives, Generic Skills, and Assessment Requirements of this entry.
The University is dedicated to providing support to those with special requirements. Further details on the disability support scheme can be found at the Disability Liaison Unit website: http://www.services.unimelb.edu.au/disability/.
Melbourne Law School Student Centre
Tel: +61 3 8344 4475
This subject introduces students to corporations law and provides a brief comparison with other forms of association such as partnerships. The subject undertakes a functional analysis of basic concepts of corporations law. Particular emphasis is given to the governance of companies, including the relationship between directors and shareholders. None of these topics requires for its study a background in accounting, commerce or business law. Necessary terms and concepts will be introduced in the subject itself.
Topics covered in the subject fall into five parts.
Part 2: The Process And Incidents Of Incorporation
Part 3: Corporate Finance
Part 4: Corporate Structure
Part 5: Corporate Mortality
There are at least three broad objectives that could underlie a course in corporations law in a university law school context. They are by no means mutually exclusive, though individual lecturers will have different views on the extent to which the various aims ought to be pursued.
One objective is to develop a working familiarity with a critical understanding of the law by examining existing bodies of principle and regulation and criticising the law from the points of view of logic and policy. As this is the first subject to deal with corporations law and is of limited duration this aim will inevitably be the dominant one.
A second objective is to evaluate the impact on society of corporate and other associations and of the law regulating them, with a view to formulating new policies and programmes of reform. The emphasis in the past in much legal scholarship in the fields of company law, partnership law and the law of unincorporated associations has been on the intricate legal questions arising in private relationships between those who manage or control, those who have supplied capital and those who deal with companies or associations. In recent times, however, the role of companies and associations in the economic and social fabric and the responsibilities of those who control them are being widely re-examined by legal scholars, as well as by economists, sociologists and political scientists. The impact which the large corporation or the non-profit social club has on the economy and our social life is being taken into consideration by reformers of the law. These developments will to some extent affect this basic subject although they are more closely analysed in graduate law subjects offered by the Faculty of Law and in the undergraduate subject Corporate Governance in the Modern Company.
A third objective is to cultivate business planning skills. Practising lawyers assist their clients in the setting up of corporate and other forms of association and in planning particular courses of action in the light, inter alia, of business associations law. It is important that students begin to think about these planning implications of the law. It is important to grasp the significance for the practising lawyer of the difference between, for example, partnerships, trusts, various contractual forms of association falling short of partnership and the various private and public company forms. Some attention will be paid, for example, to the advantage and disadvantage of partnerships compared to proprietary and public company forms. But there are limits to the degree of sophistication which can be attained on the business planning side in a first course in corporations law. Many business planning exercises require attention to a wide range of relevant law, including tax law, as well as to non-legal considerations. The integration of basic knowledge which this involves must be left, for the most part, to later subjects.
The skills students may expect to develop include the following:
Final examination: open book; 3 hours writing time, plus 30 minutes reading time (100%).
|Breadth Options:|| |
This subject is not available as a breadth subject.
|Fees Information:||Subject EFTSL, Level, Discipline & Census Date|
On completion of the subject, students should have developed the following generic skills:
In addition, on completion of the subject, students should have developed the following skills specific to the discipline of law:
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