Business Law for Accountants

Curriculum Guideline

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Course
BUSN 3720
Discontinued
Yes
Course Code
BUSN 3720
Descriptive
Business Law for Accountants
Department
Business
Faculty
Commerce & Business Administration
Credits
3.00
Start Date
End Term
202030
PLAR
No
Semester Length
15 weeks
Max Class Size
35
Contact Hours
Lecture: 3 Hours Seminar: 1 Hour Total: 4 Hours
Learning Activities

Lectures, videos, analysis of legal issues, discussion of legal cases, case assignments, and group activities

Course Description
This course will build upon the business law foundation provided in the prerequisite course, BUSN 1320 (Introductory Business Law). As well, together with BUSN 1320, this course is intended to satisfy the breadth of business law topics mandated for students to receive transfer credit for the relevant business law prerequisite required for admission to the CPA Professional Education Program.

NOTE THAT STUDENTS WHO HAVE TAKEN BUSN 2420 CANNOT TAKE BUSN 3720 FOR FURTHER CREDIT.
Course Content
  1. Business Organizations
    1. structure of business organizations – sole proprietorship, partnership, limited partnership, corporation
    2. features of the various types of business organizations including advantages and disadvantages of each
  2. Law of Agency
    1. creation of the agency relationship
    2. authority of the agent
    3. duties of the agent and the principal
    4. liability of the agent and the principal
    5. termination of the agency relationship
  3. Corporate Governance
    1. the role of officers, directors, and shareholders in the corporation
    2. the fiduciary duty and duty of care required by management
    3. situations of conflict of interest between directors/officers and the corporation
      1. competition with the corporation
      2. taking a corporate opportunity
      3. transactions with the corporation
    4. shareholders’ rights and remedies
    5. liability of directors and officers
  4. Regulation of mergers and acquisitions under the Competition Act
  5. Secured Transactions
    1. nature of a security interest
    2. creation of a security interest
    3. registration of a security interest and the British Columbia Personal Property Security Act
    4. determination of priority of a security interest
    5. enforcement of a security interest
  6. Bankruptcy Law
    1. the role of bankruptcy and insolvency in business
    2. the bankruptcy process under the federal Bankruptcy and Insolvency Act
    3. filing for bankruptcy
      1. bankruptcy by assignment
      2. bankruptcy by petition
    4. creditor rights in a bankruptcy proceeding
    5. proposals in bankruptcy
  7. Law of Personal Property
    1. acquisition and loss of rights
    2. bailment and licences
    3. property insurance
    4. business insurance
  8. Negotiable Instruments
    1. cheques
    2. bills of exchange
    3. promissory notes
  9. Consumer Protection
    1. British Columbia Sale of Goods Act
      1. contracts of sale of goods
      2. risk and passing of property
      3. implied conditions and warranties 
      4. special remedies under the Sale of Goods Act
    2. relevant provisions under the British Columbia Business Practices and Consumer Protection Act.
  10. Intellectual Property
    1. trade-marks law
    2. copyright
    3. patents, trade secrets and confidential information
Learning Outcomes

After completing this course, successful students will be able to:

  • distinguish between the main forms of business organizations
  • identify the important legal aspects pertaining to corporate governance including the powers, duties and liabilities of officers and directors and the rights and remedies of shareholders
  • describe the use of security interests to finance personal property and set out the rights available to creditors to enforce their rights
  • recognize the main requirements for a bankruptcy claim and outline the key aspects of a bankruptcy proceeding
  • summarize the different interests and legal mechanisms relating to personal property
  • identify the main legal principles relating to negotiable instruments, insurance and guarantees
  • explain the key elements of sale of goods legislation and related, relevant consumer protection legislation
  • demonstrate knowledge of relevant aspects of the Competition Act as it pertains to mergers and acquisitions
  • recount germane facets of the law of intellectual property, including the law of copyrights, trade marks, and patents
  • apply the legal principles that are contained in this course to real world situations and cases; and
  • state the more significant provincial and federal statutes pertaining to the foregoing areas of law. 
Means of Assessment
Term Tests (2-3) 55-65%*
Class participation and/or assignments and/or quizzes   5-10%
Final Examination 25-35%
  100%

*No one examination may be worth more than 40%

Textbook Materials

McInnes, Kerr, VanDuzer and Carmody, Managing the Law: The Legal Aspects of Doing Business

Latest Edition, (Toronto: Pearson Education Canada).

(or such other textbook as approved by the Business Law Department)

Additional cases and readings decided by the Instructor.

Prerequisites

BUSN 1320 (C or higher) or an approved substitute

Corequisites

Nil

Equivalencies

Nil

Which Prerequisite

Nil