70327 Introduction to Property and Commercial Law6cp
Requisite(s): 70211 Contracts AND 70311c Torts
The lower case 'c' after the subject code indicates that the subject is a corequisite. See definitions for details.
Anti-requisite(s): 70318 Personal Property
In this subject students develop an understanding of commercial law. In broad terms, this is the body of law that deals with the rights and obligations of persons and entities engaged in merchandising and sale of goods, and other transactions such as leases and securitization of a wide variety of forms of property including land and personal property. Commercial law also encompasses the regulation of the conduct of parties in engaging with each other in these transactions.
Through the lens of commercial law, this subject introduces foundational concepts in relation to what is “property” and the creation and disposition of rights in property that are the subject of commercial transactions or which are negotiated as security interests to finance borrowing or other dealings in commercial life. It examines how the body of law known as Equity recognizes different rights in property and affords particular remedies in disputes arising in relation to commercial transactions. These introductory concepts also provide the essential conceptual foundations for the two specialized and more detailed subjects that follow this subject: Real Property and Equity and Trusts.
The field of commercial law is greatly impacted by the operation of statute. In this subject students gain an understanding of some of the principles of statutory interpretation and apply these in the context of relevant statutory regimes, the Sale of Goods Act, the Australian Consumer Law and the Personal Property Securities Act that regulate the conduct between parties and define their rights and remedies.
Detailed subject description.