Level 5 – Page 3 – Accountants Institute
Exam Unit: Business Law (2.2)

Learning Outcome

To demonstrate a sound understanding and knowledge of the core elements of Business Law together with a general appreciation of other related topics of importance to business organisations. To demonstrate an understanding of those aspects of the legal system which are directly relevant to the day to day running of any business.

English Legal System:
1. The system of courts and the administration of justice
2. Case law and legislation
3. Impact of EC legislation
4. Common law – Customs and precedents
5. Statutory interpretationLaw of Contract:
1. Formation, intention, consideration
2. Terms, standard form, exemption clauses
3. Discharge of contract
4. Remedies for breach
5. Mistake, misrepresentation, illegality and contracts contrary to public policy
6. Restraint of tradeSale of Goods:
1. Implied terms
2. Transfer of possess and property
3. Performance and remedies for failure to supplyLaw of Agency:
1. Principles of agency with special reference to the authority of persons to act on behalf of others, particularly companies and partnerships
Employment Contracts:
1. Contract of service and for services
2. Unfair and wrongful dismissal
3. Redundancy
4. Remedies of employeesCorporate Formation:
1. Legal persons
2. Company registration
3. Memorandum of Association
4. Articles of AssociationCorporate Administration:
1. Board meetings
2. Annual and Extraordinary General meetings
3. Company resolutionsCorporate Finance:
1. Raising share capital
2. Maintenance of share capital
3. Loan capitalCorporate Management:
1. The Board
2. Directors duties
3. Majority and minority shareholders
4. Company secretary