LAW 3542 - Secured Transactions Law

North Terrace Campus - Semester 1 - 2019

This course will introduce students to secured transactions in personal property in the context of commercial and consumer credit and finance transactions, and in light of the important Personal Property Securities Act 2009 (Cth), introduced in January 2012, which has been said to be the most significant commercial legislation for decades. Students will obtain an understanding of the role and policy of secured finance and credit law in the context of the common law of security interests, the international landscape on which the new Australian law (adopted from New Zealand and Canada) has drawn, and will obtain a detailed understanding of the working and impact of the new system under the PPSA. This will provide students with applicable knowledge and understanding of a crucial area of commercial finance, banking and insolvency practice, and with skills of applying complex legislation to practical registration and priority issues, through problem-solving and case studies.

  • General Course Information
    Course Details
    Course Code LAW 3542
    Course Secured Transactions Law
    Coordinating Unit Adelaide Law School
    Term Semester 1
    Level Undergraduate Law (LLB)
    Location/s North Terrace Campus
    Units 3
    Contact Up to 3 hours per week
    Available for Study Abroad and Exchange Y
    Prerequisites LAW 2505 or LAW 2598
    Restrictions Available to LLB students only
    Course Description This course will introduce students to secured transactions in personal property in the context of commercial and consumer credit and finance transactions, and in light of the important Personal Property Securities Act 2009 (Cth), introduced in January 2012, which has been said to be the most significant commercial legislation for decades. Students will obtain an understanding of the role and policy of secured finance and credit law in the context of the common law of security interests, the international landscape on which the new Australian law (adopted from New Zealand and Canada) has drawn, and will obtain a detailed understanding of the working and impact of the new system under the PPSA. This will provide students with applicable knowledge and understanding of a crucial area of commercial finance, banking and insolvency practice, and with skills of applying complex legislation to practical registration and priority issues, through problem-solving and case studies.
    Course Staff

    Course Coordinator: Associate Professor David Brown

    Room 2.20, Ligertwood Building 08 8313 4442
    Course Timetable

    The full timetable of all activities for this course can be accessed from Course Planner.

  • Learning Outcomes
    Course Learning Outcomes
    On successful completion of this course students should be able to:
    1. To apply and extend knowledge from previous core courses  to complex and novel situations
    2. To employ a sound understanding of the history, policy, provisions and principles of secured transactions law and its international context
    3. To sustain legal argumentation in novel and complex contexts
    4. To apply written and oral skills to evaluate and synthesise legal principles from both  practical and policy perspectives
    5. To develop an ability to critically analyse and apply legislation, rules and cases in a professional and practical context
    6. To apply excellent research skills to practical problem-solving and analysis of law and policy of secured transactions
    University Graduate Attributes

    This course will provide students with an opportunity to develop the Graduate Attribute(s) specified below:

    University Graduate Attribute Course Learning Outcome(s)
    Deep discipline knowledge
    • informed and infused by cutting edge research, scaffolded throughout their program of studies
    • acquired from personal interaction with research active educators, from year 1
    • accredited or validated against national or international standards (for relevant programs)
    1-6
    Critical thinking and problem solving
    • steeped in research methods and rigor
    • based on empirical evidence and the scientific approach to knowledge development
    • demonstrated through appropriate and relevant assessment
    1-6
    Teamwork and communication skills
    • developed from, with, and via the SGDE
    • honed through assessment and practice throughout the program of studies
    • encouraged and valued in all aspects of learning
    1-5
    Career and leadership readiness
    • technology savvy
    • professional and, where relevant, fully accredited
    • forward thinking and well informed
    • tested and validated by work based experiences
    1,2,4,5,6
    Intercultural and ethical competency
    • adept at operating in other cultures
    • comfortable with different nationalities and social contexts
    • Able to determine and contribute to desirable social outcomes
    • demonstrated by study abroad or with an understanding of indigenous knowledges
    1,2
    Self-awareness and emotional intelligence
    • a capacity for self-reflection and a willingness to engage in self-appraisal
    • open to objective and constructive feedback from supervisors and peers
    • able to negotiate difficult social situations, defuse conflict and engage positively in purposeful debate
    3-6
  • Learning Resources
    Required Resources
    Duggan and Brown, Australian Personal Property Securities Law (LexisNexis, 2nd ed. 2015)

    A copy of, or access to, the Personal Property Securities Act 2009(Cth), Personal Property Securities Regulations 2010(Cth), and Corporations Act 2001 (Cth).
    Recommended Resources
    Essential Personal Property Securities in Australia, Wappett et al, LexisNexis,3rd ed, 2015- note that this is a reprint of the PPSA  but with an introduction/overview, and explanatory material.

    Alternative annotated statute is Harris and Mirzai, Annotated PPSA, CCH ( 3rd edition 2018)
    Online Learning
    MyUni will be used for Announcements, Course Materials, Slides, Lecture Recordings, WebLinks
  • Learning & Teaching Activities
    Learning & Teaching Modes
    Each week there will be a three-hour class. This time will be used to give a traditional lecture for one hour (maximum), followed by problem and conceptual discussion. The lecture component will be recorded but attendance is strongly encouraged as the rest of the three hour class is interactive and materials covered and problem questions attempted in groups and explained will be formative, to develop and improve your understanding and skills for the assessment.

    MyUni will enhance class contact time, including by Quizzes, Discussion Board and Links.
    Workload

    The information below is provided as a guide to assist students in engaging appropriately with the course requirements.

    Contact time: attend a 3 hour class each week. This amounts to 36 hours of formal class time across the semester.  Preparation time: In addition to attending formal classes it is anticipated that students will do substantial independent work to prepare for classes and to complete the course assignments. The University expects full time students (those undertaking 12 units per semester) to devote a total of 48 hours per week to their studies.”
    Learning Activities Summary
    Week
    Week 1

    Introduction; Context; Security at Common Law

    Week 2

    Classification of Collateral

    Week 3 PPSA Security Interests

    Week 4

    Attachment, Enforceability and Perfection

    Week 5


    Registration

     

    Week 6


    Priority Rules

    Semester Break (10 April-21 April)
    Week 7


    Proceeds, Accessions, Commingling

     

     Week 8


    Transfers, Taking Free Rules

     

    Week 9

    Enforcement, Insolvency

    Week 10

     

    Conflict of Laws

    Week 11

     

    International Aspects

    l

    Week 12

    Revision

  • Assessment

    The University's policy on Assessment for Coursework Programs is based on the following four principles:

    1. Assessment must encourage and reinforce learning.
    2. Assessment must enable robust and fair judgements about student performance.
    3. Assessment practices must be fair and equitable to students and give them the opportunity to demonstrate what they have learned.
    4. Assessment must maintain academic standards.

    Assessment Summary
    Assessment Task Task Type Due Weighting Length Redeemable? Learning Outcome
    Quiz on MyUni (there will be one practice quiz for no marks) Individual Wednesday 27th March, 2 pm 15% No 1,2
    Research Opinion Individual Friday 26th April, 2 pm 30% 3000 words max No 1-6
    Final Examination Individual Examination Period 55% 2 hours open book No 1-5
    All three assessments are compulsory.
    Assessment Detail
    Quiz

    The quiz will be made available on MyUni along with a Practice Quiz. Both will be opened two weeks before the deadline, but once you start the quiz, there is a time limit of 45 minutes to complete it. The Practice Quiz is formative only and worth no marks. The Practice Quiz may be attempted multiple times.

    The actual quiz will consist of fifteen questions and will be given a mark out of 15. The actual quiz may only be attempted once, so please ensure you try the practice quiz first and familiarise yourself with the instructions on MyUni before attempting the actual quiz.

    Research Opinion

    This will be a problem scenario based largely on materials studied in class up to 7 Aprill. It counts for 30% of your total grade for the course. However, whilst applying knowledge acquired in class, the research element (worth a quarter of the marks for this opinion) will require you to state how, if at all, the answer would differ, and what provisions would apply, in New Zealand, or any province of Canada you choose. The maximum word limit is 3000 words.

    Final Exam

    This exam (55%) will cover materials from the whole of the course and will be 2 hours open book during the Examination Period.
    Submission
    The Research Opinion should be submitted  through Turnitin on the course MyUni page, Assignments, Research Opinion.

    Exceeding word limit- Once the word limit is exceeded, additional sentences commencing after the word limit is reached will be ignored and not marked.

    Lateness- When an assessment is submitted after the due date, without an extension, 5% of the total mark possible will be deducted for every 24 hours or part thereof that it is late, including each day on a weekend and public holidays. For example, an essay that is submitted after the due date and time but within the first 24 hour period, and that has been graded at 63%, will have 5% deducted, for a final grade of 58%. An essay that is more than 24 hours late will lose 10%, etc.
    Course Grading

    Grades for your performance in this course will be awarded in accordance with the following scheme:

    M10 (Coursework Mark Scheme)
    Grade Mark Description
    FNS   Fail No Submission
    F 1-49 Fail
    P 50-64 Pass
    C 65-74 Credit
    D 75-84 Distinction
    HD 85-100 High Distinction
    CN   Continuing
    NFE   No Formal Examination
    RP   Result Pending

    Further details of the grades/results can be obtained from Examinations.

    Grade Descriptors are available which provide a general guide to the standard of work that is expected at each grade level. More information at Assessment for Coursework Programs.

    Courses for which a result of conceded pass has been obtained may not be presented towards the degree requirements for the Bachelor of Laws or the Honours Degree of Bachelor of Laws programs, or any postgraduate law program, nor to satisfy prerequisite requirements within any law course.


    Approval of Results by Board of Examiners
    Students are reminded that all assessment results are subject to approval (and possible  moderation/change) by the Law School’s Board of Examiners. Assessment  results at the University are not scaled. Under the Assessment for Coursework Programs Policy, students are assessed ‘by reference to their performance against pre-determined criteria and standards … and not by ranking against the performance of the student cohort in the course’. However, under that same policy, the Board of Examiners (as the relevant Assessment Review Committee for courses at Adelaide Law School) is  required to ‘ensure comparability of standards and consistency’ in assessment. On occasions, the Board of Examiners will form the view that some moderation is required to ensure the comparability of standards and consistency across courses and years, and accordingly provide fairness to all law students. All assessment results are therefore subject to approval (and possible change) until confirmed by the Board of Examiners and posted on Acess Adelaide at the end of each semester.

    Finality of Assessment Grades

    Students are advised that Course Coordinators will not enter into negotiations of any kind with any student regarding changes to their grades. It is irrelevant, in any given circumstance, that only a minimal number of additional marks are required to inflate a student’s grade for any individual assessment item or course as a whole. Pursuant to the University’s Assessment for Coursework
    Programs Policyand the Adelaide Law School Assessment Policies and Procedures, grades may only be varied through the  appropriate channels for academic review (such as an official re-mark).

     
    Moderation

    In accordance with the University’s Assessment for Coursework Programs Policy, course coordinators ‘ensure that appropriate marking guidelines and cross-marking moderation processes across markers are in place’ in each course. Procedures adopted by Adelaide Law School to ensure consistency of marking in courses with multiple markers include:

     
    *assurance of the qualifications of markers, and their knowledge of the content covered in each course;
    *detailed marking guidelines and assessment rubrics to assist in the marking of items of assessment;
    *sharing of example marked assessments at various grade bands across markers;
    *reviewing of selected marked assessments from each marker by the course coordinator;
    *comparison of the marks and their distribution across markers;
    *automatic double-marking of all interim assessment receiving a fail grade, and of final assessments where a student’s overall result is a fail grade;
    *the availability of re-marking of assessments in accordance with Adelaide Law School’s Assessment Policies and Procedures.


    Final results for this course will be made available through Access Adelaide.

    Approval of Results by Board of Examiners
    Students are reminded that all assessment results are subject to approval (and possible  moderation/change) by the Law School’s Board of Examiners. Assessment  results at the University are not scaled. Under the Assessment for Coursework Programs Policy, students are assessed ‘by reference to their performance against pre-determined criteria and standards … and not by ranking against the performance of the student cohort in the course’. However, under that same policy, the Board of Examiners (as the relevant Assessment Review Committee for courses at Adelaide Law School) is  required to ‘ensure comparability of standards and consistency’ in assessment. On occasions, the Board of Examiners will form the view that some moderation is required to ensure the comparability of standards and consistency across courses and years, and accordingly provide fairness to all law students. All assessment results are therefore subject to approval (and possible change) until confirmed by the Board of Examiners and posted on Acess Adelaide at the end of each semester.
  • Student Feedback

    The University places a high priority on approaches to learning and teaching that enhance the student experience. Feedback is sought from students in a variety of ways including on-going engagement with staff, the use of online discussion boards and the use of Student Experience of Learning and Teaching (SELT) surveys as well as GOS surveys and Program reviews.

    SELTs are an important source of information to inform individual teaching practice, decisions about teaching duties, and course and program curriculum design. They enable the University to assess how effectively its learning environments and teaching practices facilitate student engagement and learning outcomes. Under the current SELT Policy (http://www.adelaide.edu.au/policies/101/) course SELTs are mandated and must be conducted at the conclusion of each term/semester/trimester for every course offering. Feedback on issues raised through course SELT surveys is made available to enrolled students through various resources (e.g. MyUni). In addition aggregated course SELT data is available.

  • Student Support

    The University Writing Centre provides academic learning and language development services and resources for local, international, undergraduate and postgraduate coursework students enrolled at the University of Adelaide.

    The centre offers practical advice and strategies for students to master reading, writing, note-taking, time management, oral presentation skills, referencing techniques and exam preparation for success at university through seminars, workshops and individual consultations.

    For more information please check out the Writing Centre website at http://www.adelaide.edu.au/writingcentre/  

    Lex Salus Program

    Lex Salus (law and wellbeing) is an initiative of the Adelaide Law School aimed at destigmatising mental health issues; promoting physical, mental and emotional wellness; building a strong community of staff and students; and celebrating diversity within the school. It also seeks to promote wellness within the legal profession, through the involvement of the Chief Justice of the Supreme Court of South Australia, the Honourable Chris Kourakis, as the official Patron of the program. Students can participate in the Lex Salus program by attending barbecue lunches, pancake breakfasts, knitting and crochet circles, seminars, guest speakers, conferences and other activities. Our FaceBook page at https://www.facebook.com/LexSalusALS/ , our website at https://law.adelaide.edu.au/lex-salus/  and regular allstudent emails promote upcoming events, and have tips and information on wellness. Our Lex Salus Youtube channel at https://www.youtube.com/channel/UCN5jQ44r8SmVn0txjaNcj3w  also includes videos on topics like managing stress, and interviews with LGBTQ lawyers and their supporters which celebrate diversity and individuality. Students who commit to 10 hours of volunteering with Lex Salus in one year can have their service recognised on their academic transcript and through a thank you morning tea with the Chief Justice and law school staff.

     
    Counselling Service

    The University Counselling Service provides a free and confidential service to all enrolled students. We encourage you to contact the Counselling service on 8313 5663 to make an appointment to deal with any issues that may be affecting your study and life. More information is available at https://www.adelaide.edu.au/counselling_centre/

  • Policies & Guidelines

    This section contains links to relevant assessment-related policies and guidelines - all university policies.

    Further information regarding the Law School Policies and Procedures in relation to Supplementary Assessment, Extensions, and Remarks etc can be found at:

    https://unified.adelaide.edu.au/group/law-school/policies-and-procedures


    Academic Honesty

    Academic dishonesty is a serious act of academic misconduct. All students must be familiar with the University’s Academic Honesty Policy.

    Academic dishonesty is a serious matter and is treated as such by the Law School and the University. Academic dishonesty (which goes beyond plagiarism) can be a ground for a refusal by the Supreme Court of South Australia to admit a person to practice as a legal practitioner in South Australia.

    Academic honesty is an essential aspect of ethical and honest behaviour, which is central to the practice of the law and an understanding of what it is to be a lawyer.

     

     

     

  • Fraud Awareness

    Students are reminded that in order to maintain the academic integrity of all programs and courses, the university has a zero-tolerance approach to students offering money or significant value goods or services to any staff member who is involved in their teaching or assessment. Students offering lecturers or tutors or professional staff anything more than a small token of appreciation is totally unacceptable, in any circumstances. Staff members are obliged to report all such incidents to their supervisor/manager, who will refer them for action under the university's student’s disciplinary procedures.

The University of Adelaide is committed to regular reviews of the courses and programs it offers to students. The University of Adelaide therefore reserves the right to discontinue or vary programs and courses without notice. Please read the important information contained in the disclaimer.