LAW4701 - Commercial transactions - 2017

6 points, SCA Band 3, 0.125 EFTSL

Undergraduate - Unit

Refer to the specific census and withdrawal dates for the semester(s) in which this unit is offered.



Not offered in 2017


This unit was previously coded LAW4198


The unit provides an overview of legal structures and mechanisms available for the establishment and operation of businesses. It compares the available business structures: sole trader, incorporation and partnership, with a focus on partnership law. Measures for obtaining finance and ensuring payment are examined in the context of the use of negotiable instruments, and securitisation under the Personal Property Security Act 2009 (Cth). Measures for risk mitigation are examined in the context of the essential principles of insurance law. Other topics examines are the operation of the Goods Act, the Sale of Goods (Vienna Convention) Act and the law applying to intermediaries such as agents.


At the successful completion of this Unit students will be able to:

  1. identify, research, evaluate and synthesise relevant legal and policy issues regarding the formation and operation of businesses and the regulation of business structures and transactions;
  2. critically assess policies and principles, including regulatory strategies, to promote a fair and efficient marketplace and community;
  3. demonstrate legal research and reasoning skills and professional judgement to generate appropriate responses to complex legal problems;
  4. apply intellectual and practical skills to interpret, synthesise and apply legislative provisions and case law;
  5. collaborate and communicate in ways that are effective, appropriate and persuasive;
  6. make use of feedback to assess their own capabilities and performance and to support personal and professional development;
  7. evaluate the role of law in regulating and facilitating commercial transactions.


  1. Collaborative group research paper (25%)
  2. Examination (2 hours plus 30 minutes reading and noting time): (75%)

Workload requirements

Minimum total expected workload to achieve the learning outcomes for this unit is 144 hours per semester typically comprising a mixture of scheduled learning activities and independent study. The unit requires on average three/four hours of scheduled activities per week. Scheduled activities may include a combination of teacher directed learning, peer directed learning and online engagement.

See also Unit timetable information

Chief examiner(s)


For students who commenced their LLB (Hons) course in 2015 or later: LAW1111;

LAW1114; LAW2101;

LAW2112; LAW1112;

LAW1113; LAW2102; LAW2111 and LAW3112

For students who commenced their LLB course prior to 2015: LAW1100 or LAW1101 and LAW1102 or LAW1104; LAW3100 or LAW2101 and LAW2102


For students who commenced their LLB (Hons) course in 2015 or later: LAW4331


For students who commenced their LLB course prior to 2015: LAW4198