Corporation Law

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Reading Guide

Lecture 1

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Revision Question Answers: (d), (a)

➢ Some tips on studying this course

Corporations Law is a difficult course. The phenomena giving rise to disputes in the company law context are complex. The corporate law is a mix of statute, common law, and equity. The typical failure rate of the equivalent course in the Griffith Law School (while I was teaching there) is 30%. The failure rate of the undergraduate Company Law course at Nathan in semester 2, 2010 was close to this figure. To pass this course well, you might find the following tips useful.

I will use power point slides for most of my lectures. The reading guides, as well as the tutorial questions, will also be posted on a weekly basis. The function of the reading guide is to tell you the topics to be covered in the relevant lecture and the readings you are expected to do before coming to the lectures. The abbreviation “TB” means the Lipton, et al textbook. The numbers in the square brackets, which will appear in the reading guides, denote the paragraphs in the TB you are required to read.

The reading guides do not serve as the textbook, or a summary thereof. It is impossible to survive the course just by reading the reading guides. It is therefore imperative for all of the students to have a copy of the textbook. As Corporations Act 2001 is an important source of company law rules that we are going to study, it is equally imperative for you to acquire a copy of the Act. You must form the habit of reading the Corporations Act and not just rely on approximations provided in the text, cases, or lectures.

Attending lectures regularly and prepared can make a big difference in terms of learning outcomes.

Likewise, you should go to your tute sessions prepared. The final exam will have pretty heavy weighting on problem solving and your tute classes teach you how to resolve hypothetical problems.

Summarise the legal rules that you have studied every week and clarify issues that you do not understand with me or your fellow students. Try and complete the multiple choice exercises contained in each week’s reading guide.

I will not have enough time to provide detailed comments or clarification on every topic in my lectures. Certain topics, especially those which I believe you would be able to master through your own reading, will be covered in the lectures in a more cursory manner.

Learning objectives

By the end of the week, you should understand:

The nature of a company

The relevance of company law

The core features of company law

The regulatory framework in Australia

The separate legal personality (or ‘entity’) doctrine

The nature of a Companies

Reading: Textbook (TB) [1.05] - [1.20]

1 What is a Company?

A company is an artificial entity which the law recognises as a separate...
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