Welcome to the Australian National Institute of Management and Commerce (IMC) and TLAW607 Business and Corporations Law. This document provides you with information relevant to the successful completion of this unit including learning outcomes, schedule of lecture topics, prescribed texts and recommended readings, assessment tasks and policies, examinations and learning support facilities. Academic Administration Office The Academic Administration Office will be located in Bay 3, Locomotive St. when renovations are complete. The administration office is your point of contact for advice, enrolment and access to student support facilities. IMC’s staff is available to assist you personally during office hours. Unit Description This unit is for business students studying combined business and company law. The unit is divided into two parts – Part A [Business Law] and Part B [Corporations Law]. Part A introduces you to the foundation, operation and administration of the Australian legal system and to the operation of contract law. Contracts play a large role in the daily lives of both business people and consumers. Understanding contracts is essential to understanding business. It forms the basis of business law and relationships. There would be little or no business without contracts and the legal enforcement of promises. By the end of Part A, students will have gained a good understanding of the rights and duties of people involved in business transactions under the law of contract. Part B introduces you to the legal regulation of business structures and factors to consider when going into business, with emphasis on risk management, asset protection and limited liability under Australian corporations law. The unit focuses on the regulatory framework of companies, the separate legal nature of a company, the manner in which it operates, the duties and liabilities of company directors (corporate governance), the rights and remedies of members, the manner in which companies raises finance (equity and debt financing) and the legal options available for a company in financial difficulty. This part of the unit involves a critical analysis of decided cases and important sections in the legislation (Corporations Act 2001 (Cth)). By the end of Part B, students will have gained a good understanding of the life cycle of a company, from birth (registration) to death (dissolution) and an appreciation as to why companies are an essential feature and integral part of the business environment. The unit aims to facilitate the development of students’ contextual understanding of contract and corporations law, as well as enhancing critical thinking and analytical skills in relation to legal materials.
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