Unit Outline

This unit is organised into three parts of commercial Law practice – Foundations, Transactions and Interactions, with the substantive competency modules spread across the full course timetable. The unit will also cover a range of other common commercial law matters including transaction and file management, commercial document construction, entity structuring, GST and tax, due diligence, costs, bespoke commercial documents, companies, trusts, not-for-profits, corporate governance, managing client relationships, and working with other professionals. Assessment will be both formative and summative, with general and individual feedback provided. Opportunity will be provided for an activity, task or assignment to be resubmitted if you do not meet the requisite standard on first submission.

Intended Learning Outcomes

As per the Assessment and Results Policy 1.3, your results will reflect your achievement against specified learning outcomes.

On completion of this unit, you will be able to:


1.	Apply legal, commercial and practical concepts and frameworks for transactions and advice applicable to the practice of commercial and corporate law
2.	Formulate simple business entity structures including companies, trusts and partnerships, and communicate the obligations of their officers to achieve client objectives
3.	Undertake standard commercial transactions, including a commercial lease and the sale and purchase of a small business, and evaluate and communicate relevant risks
4.	Advise on finance and securities transactions and clarify possible revenue and tax implications of standard commercial transactions

Requisites


REQUISITE TYPE	REQUISITES
Pre-requisite	Admission into L6B - Graduate Diploma of Legal Practice

Alterations as a result of student feedback

We have provided more guidance on how your final result is determined.

How will I be Assessed?

For more detailed assessment information please see MyLO.

Assessment schedule


ASSESSMENT TASK #	ASSESSMENT TASK NAME	DATE DUE	WEIGHT	LINKS TO INTENDED LEARNING OUTCOMES
Assessment Task 1:	Assessment Task: Foundations of Commercial Practice	Refer to Assessment Description	10 %	LO1, LO2, LO4
Assessment Task 2:	Assessment Task: Mid-course Practical Task	Refer to Assessment Description	20 %	LO1, LO2
Assessment Task 3:	Assessment Task: End-of-course Practical Task	Refer to Assessment Description	20 %	LO1, LO3, LO4
Assessment Task 4:	Assessment Task: Interactive Files – Transactional Tasks	Refer to Assessment Description	50 %	LO1, LO2, LO3, LO4

Assessment details

Assessment Task 1: Assessment Task: Foundations of Commercial Practice

Task Description:

In response to learning and content delivered via weekly workshop activities, you will undertake several short tasks to demonstrate competency in the application of the skills learned in Part 1 - Foundations of Commercial Law Practice. Tasks set are a combination of individual or group-based tasks and opportunity for completion will be provided within the workshop structure in addition to outside the formal curriculum structure.

Assessment of the tasks is formative.

Due Date: Week 23

Task Length:

Varies

Due Date:

Refer to Assessment Description

Weight:

10 %

CRITERION #

CRITERION

MEASURES INTENDED

LEARNING OUTCOME(S)


1	Understand general legal, commercial and practical concepts and frameworks for transactions and advice applicable to the practice of commercial and corporate law	LO1, LO4
2	Create applicable simple business entity structures including companies, trusts and partnerships, and the obligations of their officers	LO2

Assessment Task 2: Assessment Task: Mid-course Practical Task

Task Description:

This mid-course practical assessment task covers aspects of learnings in both Part 1 & 2 of the unit.

You will be summatively assessed though will be given opportunity to resubmit any aspect of the task if you do not meet the expected standard.

Due Date: week 15

Task Length:

Completion within a 4-hour timeframe in conjunction with other unit assessment tasks under examination-style conditions

Due Date:

Refer to Assessment Description

Weight:

20 %

CRITERION #

CRITERION

MEASURES INTENDED

LEARNING OUTCOME(S)


1	Understand general legal, commercial and practical concepts and frameworks for transactions and advice applicable to the practice of commercial and corporate law	LO1
2	Identify and create applicable simple business entity structures including companies, trusts and partnerships and communicate the obligations of their officers	LO2

Assessment Task 3: Assessment Task: End-of-course Practical Task

Task Description:

A formal assessment task will be set at the conclusion of the Unit and will cover content delivered in Part 3.

The end-of-course practical task will be summatively assessed and must be undertaken for satisfactory completion of the unit. You are provided with an opportunity to resubmit any aspect of the task if you do not meet the expected standard.

Due date: Week 23

Task Length:

Completion within a 4-hour timeframe in addition to other Unit Practical Assessment Tasks under examination- style conditions

Due Date:

Refer to Assessment Description

Weight:

20 %

CRITERION #

CRITERION

MEASURES INTENDED

LEARNING OUTCOME(S)


1	Undertake standard commercial transactions, including a commercial lease and the sale and purchase of a small business, and evaluate and communicate relevant risks	LO1, LO3
2	Provide advice on finance and securities transactions, and evaluate and communicate revenue implications of standard commercial transactions	LO3, LO4

Assessment Task 4: Assessment Task: Interactive Files – Transactional Tasks

Task Description:

In response to learning and content delivered via weekly lectorial and workshop activities, you will create an “interactive” client file to facilitate completion of three common commercial transaction tasks and submit the file for formal audit on three separate occasions:

1. Commercial Code Lease – acting as either landlord or tenant
2. Leasehold Business Transfer – acting as either vendor or purchaser
3. Mortgage Security Transaction – acting as individual vendor.

During this task you will participate in drafting exercises and interview role plays, as well as prepare appropriate transactional documentation, correspondence, settlement statements and other steps required to finalise the file.

The transactional tasks are hurdle tasks and you must demonstrate your competency in each activity to the required standard. Each transactional task will be assessed for compliance with good commercial practice and skills. You are provided with an opportunity to resubmit an activity if you do not meet the expected standard.

Key elements of the transactional tasks will be assessed on a summative basis and must be undertaken for satisfactory completion of the Unit. The remainder of the tasks will be assessed on a formative basis by the instructor and your peers.

Due Date: Week 23

Task Length:

Interactive File 1 – Week 10 to Week 12 Interactive File 2 – Week 13 to Week 15 Interactive File 3 – Week 19 to Week 21

Due Date:

Refer to Assessment Description

Weight:

50 %

CRITERION #

CRITERION

MEASURES INTENDED

LEARNING OUTCOME(S)


1	Apply general legal, commercial and practical concepts and frameworks for transactions and advice applicable to the practice of commercial and corporate law	LO1, LO2, LO3, LO4
2	Identify and create applicable simple business entity structures including companies, trusts and partnerships, and communicate obligations of their officers to achieve client objectives	LO2
3	Undertake standard commercial transactions, including a commercial lease and the sale and purchase of a small business, and evaluate and communicate relevant risks	LO1, LO3
4	Advise on finance and securities transactions, and evaluate and communicate revenue implications of standard commercial transactions	LO4

How your final result is determined

No assessment process in this Unit or across the GDLP will involve the awarding of “marks”, in percentage terms, or otherwise. That is because, in legal practice, service to clients is not measured in percentage terms, but in being efficient and effective.

Your work in this Unit will be assessed against the standard required of an entry level lawyer and if it meets that standard it will be awarded a “pass”.

To pass this Unit, you need to demonstrate your attainment of the competency standards outlined above, to a “satisfactory” standard. As assessment for each Unit is both formative and summative, in the event you do not initially attain competency to a “satisfactory” standard regarding a task or assignment, you may be requested and provided with an opportunity to resubmit that task or assignment.

Any discussion regarding resubmission requirements will be communicated to you by the Unit Co-ordinator or Course Director on behalf of the Unit Co-ordinator.

Subject to attendance requirements being met, you may expect to satisfactorily complete this Unit if you demonstrate you have met the required competency standard.

Submission of assignments

Where practicable, assignments should be submitted to an assignment submission folder in MYLO. You must submit assignments by the due date or receive a penalty (unless an extension of time has been approved by the Unit Coordinator). Students submitting any assignment in hard copy, or because of a practicum finalisation, must attach a student cover sheet and signed declaration for the submission to be accepted for marking.

Requests for extensions

If you are unable to submit an assessment task by the due date, you should apply for an extension.

A request for an extension should first be discussed with your Unit Coordinator or teaching support team where possible. A request for an extension must be submitted by the assessment due date, except where you can provide evidence it was not possible to do so. Typically, an application for an extension will be supported by documentary evidence: however, where it is not possible for you to provide evidence please contact your Unit Coordinator.

The Unit Coordinator must notify you of the outcome of an extension request within 3 working days of receiving the request.

Late penalties

Assignments submitted after the deadline will receive a late penalty of 5% of the original available mark for each calendar day (or part day) that the assignment is late. Late submissions will not be accepted more than 10 calendar days after the due date, or after assignments have been returned to other students on a scheduled date, whichever occurs first. Further information on Late Penalties can be found on the Assessments and Results Procedure.

Review of results and appeals

You are entitled to ask for a review of the marking and grading of your assessment task if there is an irregularity in the marking standards or an error in the process for determining the outcome of an assessment. Details on how to request a review of a mark for an assignment are outlined in the Review and Appeal of Academic Decisions Procedure.