LAW 3542 - Secured Transactions Law

North Terrace Campus - Semester 1 - 2014

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
    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 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
    1. 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
    2. To have an awareness of the incompleteness of law and the continuous state of development of legal principles
    3. To be able to apply those principles to problem-solving exercises
    4. To develop critical thinking and problem solving skills
    5. To further enhance written and oral skills in the explanation of, analysis and synthesis of legal principle
    6. To develop an ability to critically analyse and apply legislation, rules and cases in context
    7. To apply good inter-personal and communication skilss in both written and oral communication and independently and as a member of a team
    8. To apply excellent research skills
    9. To understand legal citation conventions in the course of legal writing
    10. 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
  • Learning Resources
    Required Resources
    Duggan 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 Resources
    Essential 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 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 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.
    Workload

    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

    No seminars

    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

    Security Interests

    Week 5 w/c 31 March

    Registration

     

    Attachmnt/Enforce/Perfctn

    Week 6 w/c 7 April

    Priority Rules

    Registration

    Semester Break (14th-25th April)
    Week 7 w/c 28 April

    Proceeds, Accessions, Commingling

     

    Priority Rules

     

    Week 8 w/c 5 May

     

    Transfers, Taking Free rules

     

    Proceeds etc

     

    Week 9 w/c 12 May

    Enforcement, Insolvency

    Transfers, Taking Free

    Week 10 w/c 19 May

     

    Conflict of Laws

    Enforcement/Insolvency

    Week 11 w/c 26 May

     

    International Aspects

    Conflict/International

    Week 12 w/c 2 June

    Revision

    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
    10% 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
    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 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.


    Research Opinion

    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).

    Final Exam

    This exam 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 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.  
    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.

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

  • 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.

    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/

  • 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

    Plagiarism and other forms of cheating

    Plagiarism is a serious act of academic misconduct. All students must be familiar with the Adelaide Law School Enrolment Guide 2014, and should note in particular the sections relating to plagiarism, grievance procedures and academic conduct within the Law School and the University.

    Plagiarism is a serious matter and is treated as such by the Law School and the University. Please be aware that “academic dishonesty” (which goes beyond plagiarism) can be a ground for a refusal by the Supreme Court of South Australia to refuse 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.

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