ALW381 - Business Law for Accounting

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Last revision date May 25, 2020 12:07:51 AM
Last review date Aug 3, 2020 12:15:02 AM

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.

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.
b) Specify when a contract to be in writing and analyze issues of legality and capacity.
c) Apply the contract principles of relating to contract interpretation and contract cdefects 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 duress)
b) Distinguish between a major breach of contract and a minor breach of contract.
c) Assess the various remedies that apply to different types of breach.
d) Discuss significant sections of comsumer protection legislationt.
e) 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) Recognizing and discussing the major legal considerations in copyright, trademark and patent law.
d) Applying the intellectual property laws to computer/information technology situations.
e) 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 issues of white collar crime in Canada.
d) Applying these legal principles to case studies.

7. Discuss major legislation affecting debtor and creditor relationships:
a) Analyzing the key major features of security agreements, liens and negotiable instruments .
b) Analyzing the rights of debtors and creditors in bankruptcy.
c)  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.

Academic Integrity
Seneca upholds a learning community that values academic integrity, honesty, fairness, trust, respect, responsibility and courage. These values enhance Seneca's commitment to deliver high-quality education and teaching excellence, while supporting a positive learning environment. Ensure that you are aware of Seneca's Academic Integrity Policy which can be found at: http://www.senecacollege.ca/about/policies/academic-integrity-policy.html Review section 2 of the policy for details regarding approaches to supporting integrity. Section 2.3 and Appendix B of the policy describe various sanctions that can be applied, if there is suspected academic misconduct (e.g., contract cheating, cheating, falsification, impersonation or plagiarism).

Please visit the Academic Integrity website http://open2.senecac.on.ca/sites/academic-integrity/for-students to understand and learn more about how to prepare and submit work so that it supports academic integrity, and to avoid academic misconduct.

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 Accessibility Services Office at ext. 22900 to initiate the process for documenting, assessing and implementing your individual accommodation needs.