LAW 3542 - Secured Transactions Law
North Terrace Campus - Semester 1 - 2014
General Course Information
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 Prerequisites LAW 1503, LAW 1506, LAW 2505 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 Coordinator: Associate Professor David BrownRoom 2.20, Ligertwood Building 08 8313 4442
The full timetable of all activities for this course can be accessed from Course Planner.
Course Learning Outcomes
- To build on knowledge in relevant core courses studied to date in order to obtain a sound understanding of the history, policy, provisions and principles of secured transactions law and its international context
- To have an awareness of the incompleteness of law and the continuous state of development of legal principles
- To be able to apply those principles to problem-solving exercises
- To develop critical thinking and problem solving skills
- To further enhance written and oral skills in the explanation of, analysis and synthesis of legal principle
- To develop an ability to critically analyse and apply legislation, rules and cases in context
- To apply good inter-personal and communication skilss in both written and oral communication and independently and as a member of a team
- To apply excellent research skills
- To understand legal citation conventions in the course of legal writing
- To develop the capacity to analyse, evaluate and synthesise information from a wide variety of sources and experiences
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) Knowledge and understanding of the content and techniques of a chosen discipline at advanced levels that are internationally recognised. 1,2,4,7,8,9,10 The ability to locate, analyse, evaluate and synthesise information from a wide variety of sources in a planned and timely manner. 2,3,4,5,7,8,9,10 An ability to apply effective, creative and innovative solutions, both independently and cooperatively, to current and future problems. 2,3,4,5,7,8,10 Skills of a high order in interpersonal understanding, teamwork and communication. 6 A proficiency in the appropriate use of contemporary technologies. 6,8 A commitment to continuous learning and the capacity to maintain intellectual curiosity throughout life. 1 A commitment to the highest standards of professional endeavour and the ability to take a leadership role in the community. 1, 6 An awareness of ethical, social and cultural issues within a global context and their importance in the exercise of professional skills and responsibilities. 1,3,5
Required ResourcesDuggan and Brown, Australian Personal Property Securities Law (LexisNexis, 2013)
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 ResourcesEssential Personal Property Securities in Australia, Wappett et al, LexisNexis, 2012- note that this is a reprint of the PPSA but with an introduction/overview, and explanatory material. A 'shrinkwrapped' discount package is available for this combined with Duggan and Brown, at Unibooks.
Alternative annotated statute is Harris and Mirzai, Annotated PPSA, CCH (new 2nd edition pending)
Online LearningMyUni will be used for Announcements, Course Materials, Slides, Lecture Recordings, WebLinks
Learning & Teaching Activities
Learning & Teaching ModesEach week there will be a one-hour lecture and from weeks 2-12, a two-hour seminar. Lectures will be recorded but attendance at lectures is strongly encouraged. Attendance at seminars is vital as the materials covered and problem questions attempted and explained will be formative, to develop and improve your understanding and skills for the assessment.
MyUni will enhance class contact time, including by Discussion Board and Links.
The information below is provided as a guide to assist students in engaging appropriately with the course requirements.This is a 3-unit course and requires 156 student workload hours including contact hours
Learning Activities Summary
Week Lecture Seminar Week 1 w/c 3 March
Introduction; Security at Common Law
Week 2 w/c 10 March
Classification of Collateral
Common law; history/policy
Week 3 w/c 17 March PPSA Security Interests
Classification of collateral
Week 4 w/c 24 March
Attachment, Enforceability and Perfection
Week 5 w/c 31 March
Week 6 w/c 7 April
Semester Break (14th-25th April) Week 7 w/c 28 April
Proceeds, Accessions, Commingling
Week 8 w/c 5 May
Transfers, Taking Free rules
Week 9 w/c 12 May
Transfers, Taking Free
Week 10 w/c 19 May
Conflict of Laws
Week 11 w/c 26 May
Week 12 w/c 2 June
The University's policy on Assessment for Coursework Programs is based on the following four principles:
- Assessment must encourage and reinforce learning.
- Assessment must enable robust and fair judgements about student performance.
- Assessment practices must be fair and equitable to students and give them the opportunity to demonstrate what they have learned.
- Assessment must maintain academic standards.
Assessment Summary10% Quiz on MyUni (there will be one practice quiz for no marks)- Deadline 31 March 2014
30% Research Opinion - Deadline 28th April
60% Final Examination in Examination Period- 2-hours open book
The quiz will be made available on MyUni along with a Practice Quiz. Both will be opened two weeks before the deadline of 31 March. The Practice Quiz is formative only and worth no marks. The Practice Quiz may be attempted multiple times.
The actual quiz will consist of ten questions and will be given a mark out of 10. 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.
This will be a problem scenario based largely on materials studied in class up to 10th April. It counds for 30% of your grade. However, whilst applying knowledge acquired in class, the research element (worth 25% of the 30%) 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. The maximum word limit is 4500 words. The deadline for submission is 28th April (the first Monday after the April break).
This exam will cover materials from the whole of the course and will be 2 hours open book during the Examination Period.
SubmissionThe Research Opinion should be submitted by 2 p.m on Monday 28th April . Submission should be through ICC and Turnitin. Once the word limit is exceeded, additional words will be ignored and not marked. Lateness penalty (unless authorised extension sought under Law School extension process) is 3% of the available marks if handed in after due time, then 2% for each subsequent day of lateness.
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
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