LLB 846 Commercial & Property Practice (16cp)

The subject is currently delivered in eight core modules*. Some provide an overview of particular aspects of commercial and property transactions, and related matters which affect clients in planning their business and personal affairs. Others require students to integrate these aspects with new knowledge through conducting simulated transactions. The subject aims to provide an understanding of these concepts and transactions at a basic level, as an essential foundation for analysing more complex legal transactions.

Module 1: Commercial Planning
This module is a review of aspects of commercial practice including business structures, the means by which they are established, and the statutory and other obligations of business operators. It also includes consideration of some methods of protecting commercial interests.

Module 2: Revenue Implications
A review of the principal sources of taxation which affect commercial and property transactions, and their relevance in advising clients on their impact and thus on organising their business and personal affairs. Students will be required to complete a workbook of exercises on these issues, and will be expected to include general advice of relevant revenue implications affecting transactions arising in other modules of this subject, and in assessment tasks.

Module 3: Real Property Transactions
This module builds on knowledge and practical skills previously obtained in LLB210 Law of Contracts, LLB305 Property A, LLB306 Property B, and LLB393 Drafting Practice; or equivalents.

The focus of the module will be on other aspects of land transactions requiring students to conduct practical research, analysis of titles and other documents, and to identify, plan and carry out appropriate procedures to achieve a variety of client objectives in real estate transactions. The scope includes searching and examining various forms of title; land use and development; vendor-purchaser conveyancing practice; Land Titles Office practice. Learning is based on small group and individual problem-based activities, including completion of a workbook of exercises.

Module 4: Commercial Contracts
This topic will provide an overview to the drafting of commercial contracts generally, and in particular to aspects of commercial leases, and the practical aspects of acting for a lessor or lessee in drafting, entering into, assigning or surrendering a commercial lease, guarantees.

Module 5: Trusts, Wills and Estate Planning
This module covers two related areas of practice:

(1) Trusts: the types of trusts, the purpose of a trust, establishing a trust, the responsibilities of the trustees, trusts as an estate planning tool, varying a trust.
(2) Wills: planning and drafting effective wills.

Module 6: Probate and Estate Administration
An overview of the procedures for obtaining grants of probate or letters of administration of the estate of a deceased person; advising and assisting the personal representative of the deceased in the exercise of their responsibilities in administering the estate; and advising other persons in respect to their entitlements to the estate.

Module 7: Small Business Practice
Applying the learning obtained in Module 1-5, each student will act for a client in the purchase of a small business.