2014 Unit of Study
The session(s) below are for 2014. For Summer School 2014 unit of study availability please visit the Summer School website (main Summer session January/February 2014).
The University of Sydney session calendar shows exact dates for sessions.
|Offered||Semester 1 and Semester 2|
|Prerequisites||Any four full semester first year units of study including CLAW1001.|
|Assumed Knowledge||It is assumed that students have a general understanding of: (i) the Australian legal system; (ii) the nature of the general law and statute; and (iii) introductory contract law and negligence.|
|Lectures||Two hours of lectures and a one hour tutorial per week|
|Assessment||mid semester tests (40%), tutorial work and participation (10%), and final exam (50%)|
Companies are an integral part of our business environment. All participants in the world of business have dealings with companies - whether as employees, clients, customers, directors, shareholders, creditors, debtors, suppliers, vendors, consultants or professional advisers. This makes it essential to have an understanding of the legal nature and characteristics of companies and the manner in which their activities and management are regulated. In this unit, the legal "life cycle" of a company is examined along with a comparison of companies to other business entities. The ways in which important activities undertaken by companies are regulated are explored including: entering contracts, raising funds, issuing shares, paying dividends. Consideration is given to the duties and obligations the law places upon those who manage companies, and the consequences which may result from any breach of those duties and obligations. The position of companies in financial difficulty and the final stages in the life cycle of an insolvent company are also addressed.