Business Law Fundamentals for Accountants

Curriculum guideline

Effective Date:
Return to Course
Print Guideline
Course
BUSN 1005
Discontinued
No
Course code
BUSN 1005
Descriptive
Business Law Fundamentals for Accountants
Department
Business
Faculty
Commerce & Business Administration
Credits
3.00
Start date
End term
201920
PLAR
No
Semester length
15 Weeks
Max class size
35
Contact hours

Weekly Distribution:

  • Lecture: 3 Hours Seminar: 1 Hour Total: 4 Hours
Method(s) of instruction
Lecture
Seminar
Learning activities

Lectures, assignments, anaylsis of legal issues, discussion of legal cases, and group activities.

Course description
This course is specifically intended for Accounting students, and is meant to provide a basic level of understanding regarding certain business law topics. More particularly, the course will expose students to rudimentary concepts regarding the Canadian legal system, as well as the law of contracts, torts, corporations, partnerships, sole proprietorships, and intellectual property. Accounting students who wish to obtain greater understanding of business law topics covered in this course - as well as other legal concepts relevant to business activities - are advised to enrol in BUSN 1320 (Introductory Business Law) and BUSN 3720 (Business Law for Accountants). BUSN 1320 and 3720 can be counted towards the Concentration in Business Law.
Course content
  1. Introduction to the field of law and the administration of justice
  2. Sources of Canadian and British Columbia law
    1. distinction between private and public law
    2. Acts of Canadian Parliament and the provincial legislatures (emphasis on British Columbia)
    3. Canadian Constitution and the Charter of Rights and Freedoms
    4. subordinate legislation including by-laws and government regulations
    5. the court process, case law, and judicial precedent
  3. Law of Torts
    1. general principles including liability insurance and vicarious liability
    2. intentional torts including assault, battery, false imprisonment, trespass, and invasion of privacy
    3. business torts including malicious prosecution, nuisance, defamation, injurious falsehood, deceit, unlawful interference with economic relations, and conspiracy
    4. the tort of negligence
  4. Law of Contracts
    1. nature of a contract
    2. elements of a contract
      1. mutual agreement (offer, acceptance, and invitation to treat)
      2. capacity of the parties
      3. legal consideration and its exceptions
      4. the concept of privity of contract and its exceptions including assignment
    3. terms of a contract
      1. express and implied terms
      2. conditions and warranties
    4. factors affecting the contractual relationship
      1. misrepresentation
      2. incapacity
      3. illegality
      4. mistake
      5. duress, undue influence, and unconscionable transactions
    5. discharge and breach of contract
      1. discharge by performance
      2. discharge by agreement
      3. discharge by frustration
      4. discharge by breach
    6. contractual remedies
      1. damages
      2. specific performance
      3. injunctions
      4. accounting for profits
      5. quantum meruit
  5. 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
  6. Business Organizations
    1. structure of business organizations - sole proprietorsihp, partnership, limited partnership, corporation
    2. rights and obligations of partners
    3. dissolution of partnerships
    4. the role of officers, directors, and shareholders in the corporation
    5. the fiduciary duty and duty of care required by management
    6. shareholders' rights and remedies
    7. shareholder agreements
    8. dissolution of the corporation
  7. Intellectual Property
    1. trade-marks
    2. copyright
    3. patents, trade secrets and confidential information
Learning outcomes

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

  • describe the structure of the Canadian legal system;
  • know the basic principles of common law that apply to typical business situations;
  • recognize the main aspects of the Canadian judicial system including the sources of law, and the levels and roles of courts in the judicial system;
  • set out the difference between common law, statute law, administrative law, and criminal law;
  • explain the methods by which legal precedents are established and applied;
  • demonstrate a basic understanding of key elements of the law of contracts;
  • describe fundamental principles of tort law and identify many of the important common law torts, especially torts that arise in the business context;
  • summarize the different interests and legal mechanisms relating to the law of trade-marks, copyright, patent, and confidential information;
  • distinguish between the main forms of business organizations; and
  • 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.
Means of assessment
Term examinations (2-3) 55-60%*
Final examination 30-35%
Participation and assignments                           5-10%
  100%

 *No one examination may be worth more than 40%

 

Textbook materials

Yates, Richard, T. Bereznicki-Korol, and T. Clarke, Business Law in Canada. (Latest editon)

Additional cases and readings decided upon by the Instructor.

Prerequisites

Courses listed here must be completed prior to this course:

  • No prerequisite courses
Corequisites

Courses listed here must be completed either prior to or simultaneously with this course:

  • No corequisite courses
Equivalencies

Courses listed here are equivalent to this course and cannot be taken for further credit:

  • No equivalency courses