Outline

Overview

This unit aims to provide students with: * An overview of the legal regulation and supervision of banks and other Authorised Deposit-taking Institutions (ADIs); * An understanding of the legal basis of the relationship between banks, ADIs and their customers, and an overview of the more common rights and duties that adhere to the banker/customer relationship; * An introduction to negotiable instruments (cheques and bills of exchange), letters of credit and performance bonds, and guarantees; * An introduction to the Personal Property Securities Act 2009 and its impact on secured lending, including taking security over ADI accounts, and accounts payable.

Unit details and rules

Academic unit	Law
Credit points	6
Prerequisites ?	LAWS1015 and LAWS2015
Corequisites ?	None
Prohibitions ?	LAWS5113
Assumed knowledge ?	None
Available to study abroad and exchange students	Yes

Teaching staff

Coordinator	Roger Magnusson, roger.magnusson@sydney.edu.au
Lecturer(s)	Roger Magnusson, roger.magnusson@sydney.edu.au

Type	Description	Weight	Due	Length
Supervised exam ?	Final exam 50% Optional exam, 1.5 hour (plus 30 minutes reading time)	0%	Formal exam period	2 hours
Outcomes assessed:
Assignment	Compulsory short-release assignment 50% Compulsory short-release assignment	0%	Week 08 Due date: 17 Apr 2023 at 17:00 Closing date: 08 May 2023	2500 words/ 6 business days
Outcomes assessed:
Assignment	Optional long-release assignment 50% Optional long-release assignment	0%	Week 12 Due date: 19 May 2023 at 17:00 Closing date: 19 May 2023	2750 words /19 business days
Outcomes assessed:
= hurdle task ?

Assessment summary

Assessment options:

Option 1: Short-release problem assignment (50%) + Final exam (1.5 hr plus 30 min reading time) (50%)
Option 2: Short-release problem assignment (50%) + Long-release assignment (50%)

Short-release assignment:

This compulsory assessment has a word limit of 2,500 words excluding footnotes/bibliography. It accounts for 50% of the final mark.

The purpose of the assignment is to test students’ ability to recognise legal issues, develop arguments, and to give an opinion about the legal issues that arise within a particular factual context. The focus of the assignment is demonstrating knowledge of the unit of study materials and the issues we have considered in class.

Release date & time: 6 April 2023, 9am (Sydney, Australia time)

Due date & time: 17 April 2023, 5pm (Sydney, Australia time)

The outcome of a grant of special consideration application may include an alternative task, at the discretion of the Unit Coordinator.

Long-release assignment: This optional assessment has a word limit of 2,750 words excluding footnotes/bibliography. If attempted, this assessment will account for 50% of the total grade (the short-release assignment will account for the remaining 50%).

Release date & time: 21 April 2023, 9am (Sydney, Australia time)

Due date & time: 19 May 2023, 5pm (Sydney, Australia time)

Students who fail to submit this optional assessment by the due date will be required to sit the 50% exam.

Word limit penalty: A piece of assessment which exceeds the prescribed word limit will attract a penalty of 10% of the total marks available for the piece of assessment for every 100 words, or part thereof. The total word count for essay and other written assessments will exclude all footnotes and any bibliography (if required).

Use of assistance: The use of assistance in preparing and editing assessment tasks in this unit of study is strictly prohibited. Assistance includes human and automated writing tools (not including spell checking).

Final exam: The exam will be 1.5 hours writing time plus 30 minutes reading time and will be scheduled during the examination period. It will be a supervised, pen and paper exam.

If attempted, this assessment will account for 50% of the total grade (the short-release assignment will account for the remaining 50%).

There is no maximum word limit for this exam. The usual rule of thumb is about 1,000-1,500 words per hour. A concise, clear and edited response is expected: more is not necessarily better.

The exam tests students’ knowledge of the content of the syllabus, including the issued materials, as covered in class. Students will be expected to apply primary legislative and common law sources in order to analyse legal problems and provide legal advice, demonstrating critical judgment, and the capacity to write and structure a clear, coherent answer.

A successful Special Consideration application will result in a replacement exam.

Assessment criteria

The University awards common result grades, set out in the Coursework Policy 2014 (Schedule 1).

As a general guide, a high distinction indicates work of an exceptional standard, a distinction a very high standard, a credit a good standard, and a pass an acceptable standard.

Result name	Mark range	Description
High distinction	85 - 100	Completely answers the question. Contains striking originality of approach or analysis. Demonstrates exhaustive or innovative research (where independent research required). Exceptionally well written, structured and expressed. Is otherwise exceptional in some way.
Distinction	75 - 84	Completely answers the question. Achieves a critical and evaluative approach to the issues. Content and structure is well organised in support of the argument. Demonstrates extensive research and analysis to support a well-documented argument. Generally well expressed and free from errors. Has a clear structure and is well articulated.
Credit	65 - 74	Covers main issues fairly well in answering the question. Contains no significant errors. Demonstrates an attempted critical approach to the issues. Demonstrates reasonably sound research and analysis in addressing the key issues. Has a clear structure and reasonably clear expression.
Pass	50 - 64	Identifies the key issues, but does not follow through with a reasoned argument. Contains some significant errors. Displays satisfactory engagement with the key issues. Offers a descriptive summary of material relevant to the question. Superficial use of material, and may display a tendency to paraphrase. Demonstrates little evidence of in-depth research or analysis. Adequate expression. Overall, demonstrates the minimum level of competence in the assessment and satisfies the requirements to proceed to higher-level studies in the degree or subject area.
Fail	0 - 49	Does not answer the question. Contains significant or numerous errors. Few or no identifiable arguments. Content that is inappropriate or irrelevant. Lack of research or analysis. Difficult or impossible to understand through poor grammar, expression or structure. Overall, does not demonstrate the minimum level of competence in the assessment.

For more information see guide to grades.

Late submission

In accordance with University policy, these penalties apply when written work is submitted after 11:59pm on the due date:

Deduction of 5% of the maximum mark for each calendar day after the due date.
After ten calendar days late, a mark of zero will be awarded.

This unit has an exception to the standard University policy or supplementary information has been provided by the unit coordinator. This information is displayed below:

The late submission of a piece of assessment, which has not been granted an extension, will attract a penalty of 10% of the total marks available for the piece of assessment per 24 hours or part thereof, after the due time on the due date. For example, a submission after 5pm but before the same time the following day will attract a 10% penalty. Late penalties will be strictly applied. The date and time of submission as recorded by Canvas is taken as the official and final record of a student’s submission. Late penalties do not apply to exams and any late submission will not be accepted.

Academic integrity

The Current Student website provides information on academic integrity and the resources available to all students. The University expects students and staff to act ethically and honestly and will treat all allegations of academic integrity breaches seriously.

We use similarity detection software to detect potential instances of plagiarism or other forms of academic integrity breach. If such matches indicate evidence of plagiarism or other forms of academic integrity breaches, your teacher is required to report your work for further investigation.

Use of generative artificial intelligence (AI) and automated writing tools

You may only use generative AI and automated writing tools in assessment tasks if you are permitted to by your unit coordinator. If you do use these tools, you must acknowledge this in your work, either in a footnote or an acknowledgement section. The assessment instructions or unit outline will give guidance of the types of tools that are permitted and how the tools should be used.

Your final submitted work must be your own, original work. You must acknowledge any use of generative AI tools that have been used in the assessment, and any material that forms part of your submission must be appropriately referenced. For guidance on how to acknowledge the use of AI, please refer to the AI in Education Canvas site.

The unapproved use of these tools or unacknowledged use will be considered a breach of the Academic Integrity Policy and penalties may apply.

Studiosity is permitted unless otherwise indicated by the unit coordinator. The use of this service must be acknowledged in your submission as detailed on the Learning Hub’s Canvas page.

Outside assessment tasks, generative AI tools may be used to support your learning. The AI in Education Canvas site contains a number of productive ways that students are using AI to improve their learning.

Learning support

Simple extensions

If you encounter a problem submitting your work on time, you may be able to apply for an extension of five calendar days through a simple extension.  The application process will be different depending on the type of assessment and extensions cannot be granted for some assessment types like exams.

Special consideration

If exceptional circumstances mean you can’t complete an assessment, you need consideration for a longer period of time, or if you have essential commitments which impact your performance in an assessment, you may be eligible for special consideration or special arrangements.

Special consideration applications will not be affected by a simple extension application.

Using AI responsibly

Co-created with students, AI in Education includes lots of helpful examples of how students use generative AI tools to support their learning. It explains how generative AI works, the different tools available and how to use them responsibly and productively.

Weekly schedule

WK	Topic	Learning activity
Week 01	Session 1: Module 1: Legal supervision of banks	Lecture (2 hr)
Week 01	Session 2: Module 2: Bills of exchange 1	Lecture (2 hr)
Week 02	Session 3: Module 2: Bills of exchange 2	Lecture (2 hr)
Week 02	Session 4: Module 3: Basic principles of bank lending & the ADI/customer relationship 1	Lecture (2 hr)
Week 03	Session 5: Module 3: Basic principles of bank lending & the ADI/customer relationship 2	Lecture (2 hr)
Week 03	Session 6: Module 3: Basic principles of bank lending & the ADI/customer relationship 3	Lecture (2 hr)
Week 04	Session 7: Module 3: Basic principles of bank lending & the ADI/customer relationship 4	Lecture (2 hr)
Week 04	Session 8: Module 4: Duties & liabilities of bankers & ADIs 1	Lecture (2 hr)
Week 05	Session 9: Module 4: Duties & liabilities of bankers & ADIs 2	Lecture (2 hr)
Week 05	Session 10: Module 4: Duties & liabilities of bankers & ADIs 3	Lecture (2 hr)
Week 06	Session 11: Module 4: Duties & liabilities of bankers & ADIs 4	Lecture (2 hr)
Week 06	Session 12: Module 4 – Duties & liabilities of bankers & ADIs 5; Module 5 – Introduction to guarantees 1	Lecture (2 hr)
Week 07	Session 13: Module 5: Introduction to guarantees & other documents imposing payment obligations 2	Lecture (2 hr)
Week 07	Session 14: Module 5: Introduction to Guarantees 3/Module 5: Security for debt 1	Lecture (2 hr)
Week 10	Session 15: Module 6: Security for debt 2	Lecture (2 hr)
Week 10	Session 16: Module 6: Security for debt 3	Lecture (2 hr)
Week 11	Session 17: Module 6: Security for debt 4	Lecture (2 hr)
Week 11	Session 18: Module 6: Security for debt 5	Lecture (2 hr)
Week 12	Session 19: Module 7: Cheques, payments & negotiability 1	Lecture (2 hr)
Week 12	Session 20: Module 7: Cheques, payments & negotiability 2 and/or revision	Lecture (2 hr)

Attendance and class requirements

Attendance: All students are required to attend 70% of classes to satisfy the pass requirements for each unit of study. Failure to meet this requirement may result in a student being precluded from sitting the final assessment and being discontinued from the unit of study, resulting in an Absent Fail or Discontinue – Fail grade. Exemptions may only be considered by the Unit Coordinator upon satisfactory evidence of compelling grounds ie sudden illness or serious misadventure which occur during class time.

Referencing guide: The Sydney Law School expects you to use the Australian Guide to Legal Citation (4th edition, 2018) for your footnoting style, although you should confirm this with your lecturer, and a link to the library website where this is set out comprehensively is available at https://libguides.library.usyd.edu.au/c.php?g=508212&p=3476376

Study commitment

Typically, there is a minimum expectation of 1.5-2 hours of student effort per week per credit point for units of study offered over a full semester. For a 6 credit point unit, this equates to roughly 120-150 hours of student effort in total.

Required readings

Students should refer to the Reading Guide which will be posted on Canvas.

This unit will be taught from issued materials which will be available for purchase in hard copy (3 volumes), and will be available in pdf form on Canvas.

Students may wish to refer to: McCracken, Bird, Stumbles, Tolhurst, Everett & McCracken’s Banking and Financial Institutions Law, 9th ed., 2017, LexisNexis Butterworths; Murray & Harris, Keay’s Insolvency, 11th ed., 2022, Law Book Co.

Learning outcomes

Learning outcomes are what students know, understand and are able to do on completion of a unit of study. They are aligned with the University's graduate qualities and are assessed as part of the curriculum.

Outcomes
Graduate qualities

At the completion of this unit, you should be able to:

LO1. demonstrate an understanding of the substantive content and operation of banking and financial instruments law in Australia through a detailed examination of selected topics
LO2. demonstrate recognition of key legislative sources and common law and equitable doctrines impacting regulation of banking and financial instruments law in Australia
LO3. demonstrate recognition, definition and resolution of legal problems that arise in the context of Australian banking and finance law
LO4. demonstrate an understanding of the application of Australian legislative and common law sources to legal scenarios and problems arising with respect to bank lending
LO5. demonstrate analytical skills, critical judgment and thinking in a legal context
LO6. demonstrate the development of legal writing skills through the articulation and resolution of legal problems and documentation of legal advice

Graduate qualities

The graduate qualities are the qualities and skills that all University of Sydney graduates must demonstrate on successful completion of an award course. As a future Sydney graduate, the set of qualities have been designed to equip you for the contemporary world.

GQ1	Depth of disciplinary expertise Deep disciplinary expertise is the ability to integrate and rigorously apply knowledge, understanding and skills of a recognised discipline defined by scholarly activity, as well as familiarity with evolving practice of the discipline.
GQ2	Critical thinking and problem solving Critical thinking and problem solving are the questioning of ideas, evidence and assumptions in order to propose and evaluate hypotheses or alternative arguments before formulating a conclusion or a solution to an identified problem.
GQ3	Oral and written communication Effective communication, in both oral and written form, is the clear exchange of meaning in a manner that is appropriate to audience and context.
GQ4	Information and digital literacy Information and digital literacy is the ability to locate, interpret, evaluate, manage, adapt, integrate, create and convey information using appropriate resources, tools and strategies.
GQ5	Inventiveness Generating novel ideas and solutions.
GQ6	Cultural competence Cultural Competence is the ability to actively, ethically, respectfully, and successfully engage across and between cultures. In the Australian context, this includes and celebrates Aboriginal and Torres Strait Islander cultures, knowledge systems, and a mature understanding of contemporary issues.
GQ7	Interdisciplinary effectiveness Interdisciplinary effectiveness is the integration and synthesis of multiple viewpoints and practices, working effectively across disciplinary boundaries.
GQ8	Integrated professional, ethical, and personal identity An integrated professional, ethical and personal identity is understanding the interaction between one’s personal and professional selves in an ethical context.
GQ9	Influence Engaging others in a process, idea or vision.

Outcome map

Learning outcomes	Graduate qualities
Learning outcomes

Responding to student feedback

This section outlines changes made to this unit following staff and student reviews.

Two minor changes since the unit was last offered. First, the essay option hasn't worked very well in the past (not many students took up this option and some of those who did submitted sub-standard essays (severe ESL problems), probably in order to avoid doing the assignment. In order to offer choice in assessment, while making it possible to provide feedback to all students prior to the final assessment, in S 1, 2023 I am offering a compulsory short-release assignment due Week 8. All students will then choose between the longer-release assignment (due Week 13, if they wish to avoid the exam), and a 1.5hr exam during the exam period. Students who fail to submit the short-release assignment by the closing date would ordinarily be required to submit the longer-release assignment. Secondly, I have revised the order of the Modules, adjusting slightly the content that students will have covered by the date of the in-semester test.

Additional information

Lecture dates and times
This unit will be taught by face to face lecture on Tues & Thurs, 2-4pm

Resources - Sydney Law Students

Disclaimer

The University reserves the right to amend units of study or no longer offer certain units, including where there are low enrolment numbers.

To help you understand common terms that we use at the University, we offer an online glossary.

Current students

Overview

Overview

Unit details and rules

Teaching staff

Assessment

Assessment

Assessment summary

Assessment criteria

Late submission

Academic integrity

Learning support

Learning support

Simple extensions

Special consideration

Using AI responsibly

Weekly schedule

Weekly schedule

Attendance and class requirements

Study commitment

Required readings

Learning outcomes

Learning outcomes

Graduate qualities

Outcome map

Responding to student feedback

Responding to student feedback

Additional information

Additional information

Disclaimer

On this page

Useful links

Media

Student links

About us

Connect

Current students

LAWS3413: Banking and Financial Instruments

Semester 1, 2023 [Normal day] - Camperdown/Darlington, Sydney

Overview

Overview

Unit details and rules

Teaching staff

Assessment

Assessment

Assessment summary

Assessment criteria

Late submission

Academic integrity

Learning support

Learning support

Simple extensions

Special consideration

Using AI responsibly

Weekly schedule

Weekly schedule

Attendance and class requirements

Study commitment

Required readings

Learning outcomes

Learning outcomes

Graduate qualities

Outcome map

Responding to student feedback

Responding to student feedback

Additional information

Additional information

Disclaimer

On this page

Useful links

Media

Student links

About us

Connect