Corporate and Financial Planning Law

Overview

Course description

This course will build upon the business law foundation provided in the pre-requisite course, BUSN 1320 (Introductory Business Law). The areas of law that will be covered in this course include business organizations (sole proprietorships, partnerships, corporations), agency, corporate governance, real property mortgages, secured transactions, bankruptcy and insolvency, personal property, insurance, guarantees, trusts, wills and estates, and family law.
NOTE THAT STUDENTS WHO HAVE TAKEN BUSN 2420 CANNOT TAKE BUSN 3730 FOR FURTHER CREDIT.

Course content

Business Organizations

structure of business organizations – sole proprietorship, partnership, limited partnership, corporation
features of the various types of business organizations including advantages and disadvantages of each

Law of Agency

creation of the agency relationship
authority of the agent
duties of the agent and the principal
liability of the agent and the principal
termination of the agency relationship
general nature of a franchise relationship including its advantages and disadvantages

Corporate Governance

the role of officers, directors, and shareholders in the corporation
the fiduciary duty and duty of care required by management
situations of conflict of interest between directors/officers and the corporation

competition with the corporation
taking a corporate opportunity
transactions with the corporation

shareholders’ rights and remedies
liability of directors and officers

Real Property Mortgages

nature of real property mortgages
remedies for default

Secured Transactions

nature of a security interest
creation of a security interest
registration of a security interest and the British Columbia Personal Property Security Act
determination of priority of a security interest
enforcement of a security interest

Bankruptcy Law

the role of bankruptcy and insolvency in business
the bankruptcy process under the federal Bankruptcy and Insolvency Act
filing for bankruptcy

bankruptcy by assignment
bankruptcy by petition

creditor rights in a bankruptcy proceeding
proposals in bankruptcy

Law of Personal Property

acquisition and loss of rights
property insurance
business insurance

Law of Trusts

general nature of a trust
relationship of trustee and beneficiary
inter vivos trusts
testamentary trusts

Family Law

marriage
common-law relationships
separation and divorce
child support
spousal/common-law/partner support

Wills and Estates

purpose of a will
types of wills
duties of executor
probate
intestacy

Power of Attorney

purpose of a POA
obligations of the Attorney
risks associated with POAs
attributes
alternatives to POAs
living wills

Learning activities

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

Means of assessment

Term tests (2-3)	55-65%*
Class participation and/or assignments and/or quizzes	5-10%
Final examination	25-35%
Total	100%

*No one examination may be worth more than 40%

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;
explain the basic features of the law of real estate mortgages, including the remedies available to a mortgagee in the context of default by the mortgagor;
describe the use of security interests to finance personal property and set out the legal mechanisms available to creditors to enforce their rights;
recognize the main requirements for a bankruptcy claim and outline the key aspects of a bankruptcy proceeding;
identify the main legal principles relating to insurance and guarantees;
recount the key features of the law of wills and estates;
identify fundamental aspects of family law that are relevant to providing professional financial planning advice, including the economic rights and potential liabilities of parties in the context of marital breakdown;
demonstrate a strong understanding of the law of trusts;
recognize the primary legal concepts applicable to powers of attorney;
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.

Textbook materials

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

Latest Edition, (Toronto: Pearson Education Canada).

(or any alternative textbook approved by the Business Department)

Additional cases and readings decided by the Instructor.

Requisites

Prerequisites

BUSN 1320 (C or higher) or an approved substitute OR currently active in the:
PDD Financial Planning.

Corequisites

Nil

Equivalencies

Nil

Course Guidelines

Course Guidelines for previous years are viewable by selecting the version desired. If you took this course and do not see a listing for the starting semester / year of the course, consider the previous version as the applicable version.

September 2018 (Current)