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Commercial Law

Module description

This is a crucial module if you are considering working in the area of commercial law broadly defined. It examines key aspects of commercial law both from a domestic (England and Wales) as well as from an international viewpoint. The focus will be on sale of goods and services, banking and agency. Stress will be laid on the practical implications of the rules of commercial law, together with more theoretical issues. The module aims (a) to give you an understanding of different aspects of commercial (and consumer) law; (b) to encourage you to think practically in this field, and apply the legal rules and principles you have learned to specific commercial situations; and (c) to enable you to identify and evaluate issues within commercial law. It will also put the rules of trade in the context of the changing nature of the way we trade, consume and the need for a more circular way of trading.

LAW1004 Law of Contract is a pre-requisite and no co-requisites are required. The module is not suitable for non-specialist students or those on interdisciplinary pathways.

Module aims - intentions of the module

The aim of this module is to develop your understanding of key aspects of commercial law broadly defined, including how sales and services contracts are created, what rights the parties enjoy and what kind of liabilities such contracts may give rise to domestically as well as under international law; how intermediaries are used to get the goods to the market and the relations that exist between manufacturers and customers. Consideration will be given to the aims of commercial law in the light of the changing manner that trade is conducted, the importance of finance and its efficacy in achieving its aims.

Intended Learning Outcomes (ILOs)

ILO: Module-specific skills

On successfully completing the module you will be able to...

• 1. Demonstrate a thorough understanding of the main areas of commercial law in England and Wales and internationally, and be able to discuss the practical and business context in which they operate;
• 2. Demonstrate a critical awareness of relevant issues, and identify and analyse critically legal problems in the commercial law context; and
• 3. Demonstrate an awareness of pragmatic, commercial, moral, policy and/or other issues in this field.

ILO: Discipline-specific skills

On successfully completing the module you will be able to...

• 4. Read legislation and case law, and apply it critically to specific commercial situations
• 5. Identify and evaluate critically legal data from more than one source or jurisdiction;
• 6. Analyse and apply legal data to specific facts and deduce likely outcomes where law is indeterminate;
• 7. Analyse and apply theoretical knowledge to specific situations;

ILO: Personal and key skills

On successfully completing the module you will be able to...

• 8. Demonstrate effective and persuasive communication skills in assessments and discussion;
• 9. Demonstrate sound research skills; and demonstrate effective team skills;
• 10. Work independently, within a limited time frame, to complete a specified task.

Syllabus plan

Whilst the precise content may vary from year to year, it is envisaged that the syllabus will cover all or some of the following topics:

Introduction to commercial law: concept and definition of goods and services contracts

Implied terms
Passing of risk and property
Remedies of the buyer
Remedies of the seller
Banking and payment systems
Agency: the external relationship

Sources of international commercial sales: English law and SOGA 1979, Incoterms, CIF and FOB contracts, 1980 Vienna Convention on International sale of goods

Creation of the contract: incorporation of standard terms and transport obligations
Transfer of risk and property
Seller’s duty re the goods and documents
Bills of lading
Letters of credit
Rejection and remedies for breach of contract

Learning activities and teaching methods (given in hours of study time)

Details of learning activities and teaching methods

Formative assessment

Summative assessment (% of credit)

Details of summative assessment

Details of re-assessment (where required by referral or deferral)

Indicative learning resources - Basic reading

Key Texts:
Atiyah Sale of Goods, 2020
Munday, Agency: Law and Principles (3rd edition, OUP, 2016)
Lista, international trade, 2019
Cranston et al Principles of Banking Law 3rd ed 2018
LS Sealy and RJA Hooley, Commercial Law: Text, Cases, and Materials (4th edition, OUP 2020)

Further reading might include:
Goode and McKendrick on commercial law, 2020

Indicative learning resources - Web based and electronic resources

ELE – http://vle.exeter.ac.uk/

Key words search

Commercial Law, agency, sale of goods and services, banking and payment system, domestic and international sales