78220 Commercial Equity
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Credit points: 6 cp
Result type: Grade and marks
Requisite(s): ((94 credit points of completed study in spk(s): C04236 Juris Doctor OR 142 credit points of completed study in spk(s): C04250 Juris Doctor Master of Business Administration OR 94 credit points of completed study in spk(s): C04363 Juris Doctor Master of Intellectual Property OR 94 credit points of completed study in spk(s): C04364 Juris Doctor Graduate Certificate Trade Mark Law and Practice) AND 70106c Principles of Public International Law AND 70107c Principles of Company Law AND 70517 Equity and Trusts AND 70327 Introduction to Property and Commercial Law) OR (70517 Equity and Trusts AND 70327 Introduction to Property and Commercial Law AND 94 credit points of completed study in spk(s): C04320 Juris Doctor Graduate Certificate Professional Legal Practice AND 70106 Principles of Public International Law) OR (70108c Public International Law AND 70417c Corporate Law AND 70517 Equity and Trusts AND 70327 Introduction to Property and Commercial Law)
The lower case 'c' after the subject code indicates that the subject is a corequisite. See definitions for details.
These requisites may not apply to students in certain courses.
There are course requisites for this subject. See access conditions.
Anti-requisite(s): 78221 Commercial Equity
Description
This subject examines the role that equitable doctrines, particularly fiduciary obligations, and equitable remedies, play in commerce. Students consider their relationship with contractual, tortious and statutory duties within a series of complex commercial scenarios. They also examine the important role of trusts as vehicles for trading and investment in Australia as an alternative to the corporation, and the issues that arise with insolvent trusts.
Students collaborate with other students in discussion and problem-solving activities. They also research and write an essay on a choice of topics in commercial equity.
Subject learning objectives (SLOs)
Upon successful completion of this subject students should be able to:
| 1. | Identify and explain the complexities of case law, legislation and scholarly literature dealing with equity in commercial law, at an advanced and integrated level that is informed by professional practice; |
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| 2. | Distinguish and evaluate the legal and commercial factors that influence the resolution of disputes in different jurisdictions; |
| 3. | Articulate professionally and persuasively legal arguments that reflect the unsettled nature of equitable principles and their relationship with statute. |
| 4. | Critically, strategically, and creatively analyse how equitable doctrine relates to other areas of legal study and practice, including use of trusts and recognition of commercial fiduciary obligations |
| 5. | Critically, strategically, and creatively analyse issues that emerge from the relationship of equitable doctrine and the use of smart contracts in financial transactions and digital currencies. |
Course intended learning outcomes (CILOs)
This subject also contributes specifically to the development of the following graduate attributes which reflect the course intended learning outcomes:
- Legal Knowledge
An advanced and integrated understanding of a complex body of legal knowledge including:
a. The Australian colonial and post-colonial legal system, international and comparative contexts, theoretical and technical knowledge;
b. The broader contexts within which legal issues arise and the law operates including cultural awareness, social justice and policy;
c. The principles and values of justice and ethical practices in lawyers' roles;
d. The impact of Anglo-Australian laws on Indigenous peoples, including their historical origins in the process of colonisation and ongoing impact; and
e. Contemporary developments in law and its professional practice. (1.1) - Critical Analysis and Evaluation
A capacity to think critically, strategically and creatively, including an ability to:
a. Identify and articulate complex legal issues in context, including the skill of critical reading and writing;
b. Apply reasoning and research to generate appropriate theoretical and practical responses; and
c. Demonstrate sophisticated cognitive and creative skills in approaching complex legal issues and generating appropriate responses. (3.1) - Research Skills
Specialist cognitive and practical skills necessary to identify, research, evaluate and synthesise relevant factual, legal and policy issues including an ability to:
a. Demonstrate intellectual and practical skills necessary to justify and interpret theoretical propositions, legal methodologies, conclusions and professional decisions; and
b. Apply ethical research practices. (4.1) - Communication
Well-developed professional and appropriate communication skills including:
a. Highly effective use of the English language to convey legal ideas and views to different and diverse audiences and environments;
b. An ability to inform, analyse, report and persuade;
c. An ability to strategically select an appropriate medium and message;
d. A cognisance of advanced communication technologies and willingness to adopt where appropriate; and
e. An ability to respond respectfully. (5.1)
Teaching and learning strategies
Strategy 1: Students’ Preparation for Learning
Students read cases and articles and other online resources before attending seminars to prepare for collaborative discussion and analysis of issues in commercial equity.
Preparation for each seminar is approximately 20 minutes plus selected reading or viewing of online content.
Strategy 2: Research Skills
Specialist legal research skills are necessary to equip lawyers with the skills to locate, evaluate and apply relevant legal principles to resolving commercial problems or justifying the commencement or defence of legal proceedings.
In this subject, students engage in individual legal research for the purposes of (i) answering questions in the weekly seminar program to contribute to seminar discussions and (ii) developing a researched argument in a 1500 word research essay on a topic related to a legal issue in contemporary commercial equity which forms the final assessment.
Strategy 3: Online learning
Canvas is where students access material for self-directed learning and engage in student-led discussion on key topics. Throughout the session, students can share their questions and ideas on this open discussion forum, with prompt guidance and contributions from the Subject Coordinator.
Strategy 4: Ongoing Feedback
Informal feedback is provided during the seminars in response to student contributions to the weekly questions for preparation for seminar discussion. group. There will be formative assessment tasks, self-assessment tasks and oral contributions in class and on the discussion board where students will receive feedback from the lecturer and their peers, as well as formal assessments. Detailed guidance as to the assessment criteria and the provision of timely feedback will form an important part of the learning process.
Subject Delivery:
Commercial Equity is delivered by way of preparatory activities, seminars held online and on campus throughout the session, and discussion via Canvas. Seminars are held weekly throughout the session.
Content (topics)
Module A: Introduction
1. Overview of Equitable Intervention in Commercial Life
Module B: Advanced Equitable Remedies in Commercial Practice
2. Contribution
3. Subrogation
4. Marshalling
5. Advanced Equitable Compensation: causation and calculation
Module C: Complex Commercial Equity Cases
6. Fiduciary Duties
7. Third Party Liability
Module D: Commercial Use of Trusts
8. Introduction to Commercial Use of Trusts
9. Trading Trusts and Superannuation Trusts
10. Trustee’s Indemnity and Lien
11. Issues in Insolvency
12. Guest Lecture on Commercial Trusts
Assessment
Assessment task 1: Seminar Preparation and Participation
| Objective(s): | This task addresses the following subject learning objectives: 1 and 4 This task contributes specifically to the development of the following graduate attributes: 1.1, 3.1 and 5.1 |
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| Weight: | 20% |
| Length: | 1,000 words (nominal) |
| Criteria: | Preparation, Attendance and Participation:
The total possible mark for attendance, preparation, and participation is 20% of the final mark in this subject. Students will receive feedback during each tutorial, particularly in relation to the way that activities were undertaken and the outcomes achieved by discussion groups and the class as a whole. |
Assessment task 2: Mid-session Essay
| Objective(s): | This task addresses the following subject learning objectives: 1 and 3 This task contributes specifically to the development of the following graduate attributes: 3.1, 4.1 and 5.1 |
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| Weight: | 40% |
| Length: | 1,500 words |
| Criteria: | The assessment criteria feedback sheet will be provided in the Learning Guide. The criteria are as follows:
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Assessment task 3: Take home exam. Mix of quiz-style and problem questions
| Objective(s): | This task addresses the following subject learning objectives: 1, 2, 3 and 4 This task contributes specifically to the development of the following graduate attributes: 1.1, 3.1 and 5.1 |
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| Weight: | 40% |
| Length: | 2,000 words |
| Criteria: | The exam will be assessed on:
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