LLAW3234 Commercial Equity

2017

4.5

1 x 1-hour lecture weekly
1 x 1-hour seminar weekly
1 x 13-hour project work once-only

1 Admission into BLAWLP-Bachelor of Laws and Legal Practice
1a Admission into BLAWLPG-Bachelor of Laws and Legal Practice (Graduate Entry)
1b Admission into BLAWLPR-Bachelor of Laws and Legal Practice
1c Admission into BLAWLPRG-Bachelor of Laws and Legal Practice (Graduate Entry)
1d Admission into BLAWLPRH-Bachelor of Laws and Legal Practice (Honours)
1e Admission into BLAWLPRGH-Bachelor of Laws and Legal Practice (Graduate Entry) (Honours)
2 27 units of first year LLAW topics
Must Satisfy: ((1 or 1a or 1b or 1c or 1d or 1e) and 2)

LLAW3060 has been successfully completed

This topic is concerned with examining how equitable doctrine has made inroads into the fields of commercial and contract law. In particular it explores: the relationship between agency, partnership and fiduciary relationships with and within corporations and other entities such as joint ventures and the rights and obligations which result from the characterisation of a relationship as fiduciary; the role of statute and its influence on commercial equitable doctrines, in particular the operation of fiduciary norms in regulated environments; breach of confidence; commercial use of the trust; liability of third parties such as directors and auditors for breach of fiduciary duty or breach of trust; enforcement of rights and obligations.

The topic aims to:

• convey to students an awareness and understanding of the role of equitable principles in regulating and facilitating commercial relationships
• encourage students to consider the interaction of equity with contract theory, theories of negligence and with statutory regimes
• consolidate students' understanding of the place and importance of principles of equity in the Australian legal system
• consider comparative developments in this area of law in jurisdictions outside Australia
• further students' skills in legal research, argument, writing and analysis

Upon completion of this topic, students will be able to:

• identify the relationship between agency, partnership and fiduciary relationships within corporations and other entities such as joint ventures
• explain and critique the rights and obligations which result from the characterisation of a relationship as fiduciary
• explain the role of statute and its influence on commercial equitable doctrines, in particular the operation of fiduciary norms in regulated environments
• use equitable principles to determine the degree to which the law will impose higher standards of fair dealing and conscientious behaviour on the parties to specific commercial relationships such as joint ventures, partnerships and agency
• identify relevant issues that arise out of sets of hypothetical facts which relate to selected matters dealing with commercial relationships and equity under Australian law and articulate reasoned solutions to issues arising from such scenarios, using accepted forms of legal reasoning and analysis
• carry out independent research to find and effectively use the sources of law and the products of legal research and scholarship