Overview

The module will allow students to study a range of issues on Business organisations, rules and procedures including but not limited to the law on the following:

• The law, rules and procedures relating to companies, partnerships and sole traders in order to advise on starting a new business.
• Procedures and documentation required to incorporate a company/form a partnership/LLP and other steps required under companies and partnerships legislation to enable the entity to commence operating.
• Partnership decision-making and authority of partners including procedures and authority under PA 1890 and common provisions in partnership agreements.
• Legal personality and limited liability.
• Finance a business including funding options, types of security, distribution of profits and gains, financial records, information and accounting requirements.
• Corporate governance and compliance including the rules and procedures relating to the management of a business and company decision making to ensure compliance with statutory and other legal requirements.
• Taxation of business organisations including the rules for the calculation, distribution and taxation of a business and its profits.
• Insolvency (corporate and personal) including the law, rules and procedures relating to the termination of a solvent business, corporate insolvency and personal bankruptcy.

Assessment Strategy

-excellent -Excellent: A- to A* (70+%) An outstanding answer containing all the material relevant to the question and no irrelevancy, all the material and references being accurate and correct, there being no inaccuracy or error, the whole presented in a clear, logical, critical argument with little room for improvement. An answer which demonstrates a complete mastery of the subject.

-good -Good: B- to B+ (60-69%) High Standard: A comprehensive answer, containing all the material relevant to the question and no irrelevancy, all the material and references being accurate and correct, there being no inaccuracy or error, the whole presented in an argument which, while clear, logical and critical, leaves room for improvement in its construction and presentation. An answer which shows complete competence in the subject.

-another level-C- to C+ (50-59%) An answer which, while always in the main accurate and correct, fails to distinguish between relevant and irrelevant material and is lacking in criticism. An answer which while reliable with regard to correctness is either not comprehensive or not entirely pertinent.

-threshold -Threshold: D- to D+ (40-49%) An answer which, while predominantly correct in its presentation of material, contains a significant level of error and is therefore not entirely reliable.

Learning Outcomes

• Appraise the broader contemporary contexts in which the legal regime on partnerships and companies operate.

• Compose arguments for legal reform of contentious aspects of the Companies Act 2006 in the light of contemporary developments.

• Formulate original interpretations and arguments on legal topics relating to various business organisations.

• Identify and critically evaluate the law relating to different types of business organisations and the similarities and differences between the various business structures.

• Synthesise and critically apply information from primary and secondary legal authorities to solve factual and hypothetical business problems.