ALW380 - Business Law for Accounting

Subject Title
Business Law for Accounting

Subject Description
This course will provide an introduction to Canadian Business Law with an emphasis on legal issues relevant to accounting. Topics will include: the Canadian legal system, tort law and professional liability, contract law, specific commercial contracts (including sale, insurance and employment), negotiable instruments and security interests and partnerships and corporations. Students will develop an ability to recognize and respond appropriately to legal situations that occur in an accounting environment.

Credit Status
ALW 380 is a required subject in the three year Accounting and Finance Program. For a CGA credit, a student must obtain at least a "B" average or better in this course.

Learning Outcomes
Upon successful completion of this subject the student will be able to:

1. Outline the basic structure of the Canadian legal system.
a) Identify the sources of Canadian law.
b) Outline the structure of the Canadian court system.
c) Describe the basic steps in a civil trial possible appeals, and alternative dispute resolution.
d) Analyse the various damages and remedies a court can award.

2. Identify and analyse consistently, relevant business torts and the extent of professional liabilities in sample business problems.
a) Identify and evaluate specific business torts and liability issues such as: defamation, trespass,nuisance, occupiers liability and products liability.
b) Analyse the major considerations in a negligence action.
c) Discuss fiduciary duty, vicarious liability, professional negligence and professional ethics.
d) Analyse the potential professional liabilities of accountants and other business persons.
e) Evaluate sample business cases and discuss the tort liabilities that arise.

3. Recognize and analyse the essential requirements of a valid contract in given legal situations.
a) Identify a valid offer and valid acceptance and capacity.
b) Specify when the Statue of Frauds requires a contract to be in writing.
c) Apply the contract principles of part performance, quantum merit, parole evidence and privity to sample cases.
d) Explain the requirements of consideration and determine if it exists in a sample case.
e)Analyzing circumstances where a court may rule a contract valid ,void or voidable.

4. Assess various types of breach of contract and recommend appropriate remedies.
a) Recognize and analyse situations of justifiable and non-justifiable breach of contract. (i.e., mistake, misrepresentation, frustration, non est factum and competency)
b) Distinguish between a major breach of contract, a minor breach of contract and a fundamental breach.
c) Assess the various remedies that apply to different types of breach.
d) Analyse sample breach of contract cases and recommend appropriate resolutions.

5. Evaluate the major legal issues faced by business in certain specific areas by:
a) analyzing the rights of employers and employees in employment contracts.
b) discussing key legal issues involved in hiring, firing, trade secrets and unions.
c) discussing the legal rights of real property owners, landlords and tenants.
d) analyzing the rights of mortgagees and discussing the consequences of mortgage default.
e) recognizing and discussing the major legal considerations in copyright, trademark and patent law.
f) applying the intellectual property laws to computer/information technology situations.
g) applying these laws to sample cases and predicting appropriate outcomes.

6. Analyze important legal considerations that arise for a business organization by:
a) comparing and contrasting sole proprietorship, partnership and corporations.
b) discussing the legal rights and duties of shareholders and directors.
c) discussing the legal consequences of an agency relationship.
d) applying these legal principles to case studies.

7. Discuss major legislation affecting debtor and creditor relationships:
a) explaining the significance of imposed by The Sale of Goods Act and PIPEDA.
b) analyzing the key major features of security agreements and negotiable instruments .
c) analyzing the rights of debtors and creditors in bankruptcy.
d) solving sample cases based on these legal relationships.

8. Perform legal analysis on given case studies:
a) Identify the legal issues relating to a given fact situation.
b) Concisely state the legal principle that relates to each issue identified.
c) Extract and list the facts from the given situation that relate to each legal issue identified.
d) State the legal conclusion that logically follows from the legal issue identified together with the relevant legal principle and facts as stated.

Cheating and Plagiarism
Each student should be aware of the College's policy regarding Cheating and Plagiarism. Seneca's Academic Policy will be strictly enforced.

To support academic honesty at Seneca College, all work submitted by students may be reviewed for authenticity and originality, utilizing software tools and third party services. Please visit the Academic Honesty site on http://library.senecacollege.ca for further information regarding cheating and plagiarism policies and procedures.

Discrimination/Harassment
All students and employees have the right to study and work in an environment that is free from discrimination and/or harassment. Language or activities that defeat this objective violate the College Policy on Discrimination/Harassment and shall not be tolerated. Information and assistance are available from the Student Conduct Office at student.conduct@senecacollege.ca.

Accommodation for Students with Disabilities
The College will provide reasonable accommodation to students with disabilities in order to promote academic success. If you require accommodation, contact the Counselling and Disabilities Services Office at ext. 22900 to initiate the process for documenting, assessing and implementing your individual accommodation needs.