IB2C1-15 Fundamentals of Business Law
Introductory description
N/A
Module aims
To develop an understanding of the main sources of law, the procedures involved in creating law and limitations place on the legislature and judiciary.
To develop an understanding of the hierarchy of the court system and the importance of the doctrine of stare decisions in common law systems.
To understand the basic concepts and principles of contract law and the importance of contract formation in the business world.
To understand the potential consequences which may flow from a breach of contract.
To understand the different legal forms of business and the legal formalities required to set up as a sole trader, in partnership and as a limited company.
To develop legal skills including analysis of legal problems, and problem-solving techniques which can be applied to analyse a range of hypothetical problems.
To be able to conduct research using official sources of legislation and case-law.To gain experience in preparing and presenting legal arguments.To develop an ability to evaluate and criticise legal principles
Outline syllabus
This is an indicative module outline only to give an indication of the sort of topics that may be covered. Actual sessions held may differ.
The Legal System: An introduction to the English legal system, with particular reference to how the law is made and how legal disputes are resolved. Civil and criminal law distinctions. The creation of law through judicial precedent, statute law and European law. Interpretation of statutes. The court system and procedures for commencing and responding to a legal dispute. The role and qualifications of solicitors and barristers.
Business Transactions: An introduction to the law of obligations. Formation of contracts, with particular reference to the importance of contract formation in the world of business. Offer and acceptance, consideration, intention to create legal relations, capacity to contract, the purpose of contracts. Contracts in restraint of trade. The postal rules and the relevance of modern methods of communication. Rights of Third Parties Act. Remedies available for breach of contract.
Business Organisations: The legal formalities involved in setting up in business as a sole trader, in partnership and as a limited liability company. The Partnership Act and Companies Acts, forming partnership agreements. Limited liability partnerships. Agency and the role of the partner. Memorandum and Articles of Association. Effects of incorporation. Lifting the corporate veil.
Learning outcomes
By the end of the module, students should be able to:
- Understand the essential features, institutions and principles of legal systems with particular reference to the English legal system
- Recognise the major sources of law.
- Recognise the hierarchy of English courts and to be able to understand the doctrine of stare decisis.
- Understand the basic principles and theories underlying the law of contract and remedies for breach of contract.
- Analyse texts and oral presentations
- Communicate complex ideas effectively.
- Test and refine hypotheses.
Indicative reading list
Core text: James Marson & Katy Ferris, Business Law, 5th edition, 2018 Oxford University Press
Illustrative Reading:
Alix Adams Law for Business Students, 11th edition, 2020, Pearson
Ewan Macintyre, Essentials of Business Law, 6th edition, 2018, Pearson
Card and James, Business Law, 4th edition, 2016, Oxford University Press
Subject specific skills
- Analyse legal problems. Conduct research using official sources of legislation, case law and secondary sources.
- Prepare and present legal arguments for both sides of a legal dispute.
- Evaluate and criticise current law and reform proposals
Transferable skills
- Conduct independent research of set issues using library and electronic sources.
- Present reasoned arguments orally and on paper.
- Support arguments by reference to appropriate sources.
Study time
| Type | Required |
|---|---|
| Lectures | 10 sessions of 1 hour (7%) |
| Seminars | 9 sessions of 1 hour (6%) |
| Online learning (independent) | 10 sessions of 1 hour (7%) |
| Private study | 48 hours (32%) |
| Assessment | 73 hours (49%) |
| Total | 150 hours |
Private study description
preparation
Costs
No further costs have been identified for this module.
You do not need to pass all assessment components to pass the module.
Assessment group B2
| Weighting | Study time | Eligible for self-certification | |
|---|---|---|---|
| In-person Examination | 100% | 73 hours | No |
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Feedback on assessment
my.wbs
Post-requisite modules
If you pass this module, you can take:
- IB3G4-15 Law for Entrepreneurs
- IB237-15 Business Law 2
Courses
This module is Optional for:
- Year 2 of UECA-3 Undergraduate Economics 3 Year Variants
- Year 2 of UECA-LM1D Undergraduate Economics, Politics and International Studies
This module is Unusual option for:
-
UPHA-L1CA Undergraduate Economics, Psychology and Philosophy
- Year 2 of L1CA Economics, Psychology and Philosophy
- Year 3 of L1CA Economics, Psychology and Philosophy
This module is Option list A for:
- Year 3 of UESA-HN15 BEng Engineering Business Management
- Year 4 of UESA-HN13 BEng Engineering Business Management with Intercalated Year