Module details for Business Law (Accountants)


This module develops and applies aspects of the law of contract and examines commonly encountered commercial and consumer transactions.


In this module students will study the legal framework within which business organisations operate, and other legal concepts such as contract, including employment, negligence and other delictual responsibilities, agency, partnership and companies, and the regulatory environment in which business must operate.

Learning Outcomes

By the end of this module the student should be able to:

1.  Demonstrate an understanding of the sources of law in Scotland and England, including the impact of the Human Rights Act 1998 and European law.

2.  Explain the fundamental principles which govern the law of contract and the law of delict.

3.  Demonstrate and understanding of employment law in relation to employment contracts, redundancy and dismissal.

4.  Explain the principles relating to the laws of agency, partnership and company incorporation, with a focus on the formation and management of companies.

5.  Explain the principles of the law of insolvency.

Indicative Content

1 Legal Systems

The nature of law; the distinction between civil and criminal law; the Scottish and English legal systems; the structure of the courts in Scotland and England; sources of law in the United Kingdom; European Union law and Institutions; Human Rights Act 1998; Scotland Act 1998

2 Law of Obligations – Contract, Employment and Delict

Nature and formation of contract; validity; contract terms; restrictive covenants; electronic contracts; breach of contract; remedies; employment contracts; dismissal from employment; redundancy; nature of delict; elements of negligence; causation; defences; professional negligence

3 Agency, Partnership and Incorporation

Creation of agency relationship and authority; relationship between agents and third parties; definition of partnership; relationship between partners and third parties; formation and constitution of companies; separate legal personality; lifting the corporate veil; minority protection

4 Management of companies

Directors and their duties; company officers and their responsibilities including auditors and secretaries; company meetings; resolutions; records; Bribery Act 2010; corporate criminal and fraudulent behaviour

5 Corporate Finance

Types, features and classes of share capital; issuing, allotting, paying and transferring shares, including to the general public; London Stock Exchange; dividends; loan capital; capital maintenance rules; debt finance;

6 Insolvency

Administration; receivership, including fixed and floating charges; liquidation.

Teaching and Learning Work Loads

Teaching and Learning Method Hours
Lecture 28
Tutorial/Seminar 14
Practical Activity 0
Assessment 40
Independent 118
Total 200

Guidance notes

SCQF Level - The Scottish Credit and Qualifications Framework provides an indication of the complexity of award qualifications and associated learning and operates on an ascending numeric scale from Levels 1-12 with SCQF Level 10 equating to a Scottish undergraduate Honours degree.

Credit Value – The total value of SCQF credits for the module. 20 credits are the equivalent of 10 ECTS credits. A full-time student should normally register for 60 SCQF credits per semester.


We make every effort to ensure that the information on our website is accurate but it is possible that some changes may occur prior to the academic year of entry. The modules listed in this catalogue are offered subject to availability during academic year 2021/22 , and may be subject to change for future years.