Studying at York
Law, Commerce & Finance - LAW00036I
Module summary
How is the law used to practical effect in commercial and financial transactions? This module provides an introduction to the way in which core principles of law are applied to agree parties’ rights and obligations, and protect their interests, in their commercial and financial dealings. Students will analyse and apply elements of foundation subjects such as obligations and property “in action” in a range of common commercial and financial transactions. Concepts such as risk and security will be considered, and students will analyse how these are dealt with in transactions. Students will also be introduced to new areas, such as insolvency and tax which have a major influence on commercial and financial transactions. Student activity will be varied and practical, and centred around a number of realistic, practical case studies, based around commercial and financial scenarios, and the related transactional documentation. Activities will combine PBL, simulations, document analysis and drafting skills, negotiation, and research tasks. The practical context of the case will also enable students to develop their commercial awareness.
Professional requirements
N/A
Related modules
Pre-requisite modules
Co-requisite modules
- None
Prohibited combinations
- None
Module will run
| Occurrence | Teaching period |
|---|---|
| A | Semester 2 2023-24 |
Module aims
Students will develop a practical understanding of the way in which core principles of law are applied to agree parties’ rights and obligations, and protect their interests, in their commercial and financial dealings. Aligned to this knowledge will be the development of a number of practical legal skills, including document analysis and drafting. Knowledge, skills, and related commercial awareness, will all be developed in the context of realistic transactional scenarios and case studies, based on common commercial and financial transactions, using authentic transactional documentation.
The module also aims, as part of the overall LLB programme, to enable students to develop new and further critical perspectives on law, whilst progressively developing core academic and legal skills.
Module learning outcomes
- Explain, apply, discuss and critically evaluate well-established legal concepts, principles, theories and perspectives relevant to, and in the context of, commercial and financial transactions
- Explain the anatomy of commercial and financial transaction documentation
- Discuss and critique the development and purpose of law and its application to common commercial and financial transactions
- Identify commercial and financial interests, and areas of risk for parties to commercial and financial transactions, and evaluate mechanisms by which these can be achieved, protected and and managed
- Apply and evaluate critically problem-solving strategies to develop and propose solutions to practical legal problems
- Apply document analysis and legal drafting skills in the context of common commercial and financial transactions
- Develop individual opinions and arguments on commercial and financial legal issues and propositions, supported by appropriately critiqued academic evidence
- Plan, implement and evaluate research methodologies and strategies, and locate relevant and reliable sources and authorities
- Communicate the outputs of the above in a variety of written formats and contexts to specialist and non-specialist audiences
- Demonstrate understanding of norms of professional legal practice and academic scholarship
Module content
Students will consider aspects of foundational subjects of law such as obligations and property, and concepts such as risk and security. New, relevant areas of law, including aspects of insolvency and tax will be developed. Transactions will include sale of goods, lending, franchising, leasing property, and a public offer of shares. In studying the anatomy of commercial and financial transaction documentation, students will develop an understanding of commonalities in structure, content and purpose.
Indicative assessment
| Task | % of module mark |
|---|---|
| Essay/coursework | 100 |
Special assessment rules
None
Additional assessment information
The assessment will comprise two outputs based on instructions released to students at the end of the teaching period. These outputs will be designed to assess a range of the module learning outcomes and will differ in format. They will be:
- a critical analysis of a particular concept relevant to commercial and/or financial transactions, and the contractual and other legal mechanisms used by lawyers in dealing with that concept for clients
- a report to a client on the main obligations and risks arising from a draft contract that is intended to be the basis of a proposed transaction
Indicative reassessment
| Task | % of module mark |
|---|---|
| Essay/coursework | 100 |
Module feedback
Students will receive regular feedback based on their contributions to workshops, and through peer and tutor review of advice given in workshops, based on module scenarios. The advice to be developed in workshops will be similar in format and purpose to the summative assessment and will thus provide informal formative assessment opportunities. There will also be a short formative assessment which will provide insight into both the level and writing style required for the summative assessment. Students will receive written feedback on their summative assessment outputs, within the timescale set by the University's Feedback Turnaround Time policy. There will be a general "open-door" approach to further feedback and guidance during the module and following assessments should this be required by individual students.
Indicative reading
Due to the practical and transactional nature of this programme, there will be no key texts detailed. However, students will be expected to locate and use practitioner texts, databases and know-how services, together with standard legal primary and secondary sources relevant to the module content.