LAW 3542 - Secured Transactions Law

North Terrace Campus - Semester 1 - 2017

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 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 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 ( 2nd edition 2014)
    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 class will be recorded but attendance  is strongly encouraged as the class is interactive and 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 Quizzes, 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
    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 Item % of final mark Due Date    Course Learning Outcome          
    Quiz on MyUni (there will be one pratice quiz for no marks) 20% Wednesday 29th March, 2 pm 1,2
    Research Opinion 30% Wednesday 26th April, 2 pm 1-6
    Final Examination 50% Examination Period (2 hours open book) 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 1 hour 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 twenty questions and will be given a mark out of 20. 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 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. 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.

    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 was founded in 2013 by Adelaide Law School Wellbeing officers Ms Corinne Walding, Ms Kellie Toole and Dr Mark Giancaspro. Lex Salus is an initiative of the Adelaide Law School aimed at raising law student awareness of the importance of mental, physical and nutritional health across all year levels of the degree, and of the various counselling, disability and equity services both within and outside the University that can provide help. Research shows that law students, both in Australia and in many jurisdictions around the world, experience the highest levels of stress, anxiety and depression out of any other discipline. Many do not get enough sleep, maintain a healthy diet or achieve a realistic work/life balance. Making matters worse, they are unwilling or afraid to speak up for fear of feeling 'weak' or because of the negative stigma that attaches to seeking help. Lex Salus is dedicated to tackling these problems head-on.

    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

    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, 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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