75422 Transactional Practice
Warning: The information on this page is indicative. The subject outline for a
particular session, location and mode of offering is the authoritative source
of all information about the subject for that offering. Required texts, recommended texts and references in particular are likely to change. Students will be provided with a subject outline once they enrol in the subject.
Subject handbook information prior to 2016 is available in the Archives.
Credit points: 6 cp
Result type: Grade and marks
Requisite(s): ((75424c Legal and Professional Skills AND (102 credit points of completed study in spk(s): STM90688 102cp Core subjects LLB OR 108 credit points of completed study in spk(s): STM90832 LLB Core Subjects) AND (114 credit points of completed study in spk(s): C04236 Juris Doctor OR 162 credit points of completed study in spk(s): C10124 Bachelor of Laws OR 114 credit points of completed study in spk(s): STM90691 144cp Law Stream OR 114 credit points of completed study in spk(s): STM90401 Law Stream Combined Degree BA Communication Bachelor of Laws)) OR 75424c Legal and Professional Skills)
The lower case 'c' after the subject code indicates that the subject is a corequisite. See definitions for details.
These requisites may not apply to students in certain courses. See access conditions.
Description
This subject covers the skills, practice areas and values required of a law student to be admitted to practise law as prescribed by the 'competency standards' set out in the Second Schedule to the Legal Profession Uniform Admission Rules 2015. The subject assumes an understanding of disciplinary knowledge taught in core law subjects in a relevant degree. Students learn and practise the application of this knowledge through the development of skills and reflection in preparation for professional practice as an entry-level lawyer. This subject is one of four subjects that constitute the Practical Legal Training (PLT) program. It is complemented by the three other PLT subjects – 75424 Legal and Professional Skills, 75423 Litigation and Estate Practice and 75411 Practical Experience.
This subject covers the law, practice, procedure and skills to enable students to: conduct and advise on property transactions such as conveying torrens title and strata title residential property; advise on, create and release securities; advise on, create and transfer leases; identify revenue issues of property transactions; and advise on land use, powers of attorneys, residential tenancies and options. Students also apply their knowledge and skills to advise clients on, and conduct client matters in, commercial transactions such as: the sale and purchase of a business; set up and advise on business structures and the continuing obligations in relation to those structures; identify revenue implications of commercial transactions and refer clients to appropriate expert advisers; and advise on loans, securities and financing arrangements for commercial transactions. Students draft relevant documents and analyse clients' problems in these areas of the law, as well as offering options and solutions.
Subject objectives
Upon successful completion of this subject students should be able to:
| 1. | apply an understanding of the law, its principles and procedures to conduct a conveyance of real property and a sale of business. |
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| 2. | advise and competently act for clients in respect of the sale and purchase of a residential property and a business, including the evaluation of relevant business structures. |
| 3. | analyse practical legal and non-legal issues arising in property and commercial transactions and to evaluate and communicate options and solutions to clients. |
| 4. | draft clear and concise legal documents in accordance with client instructions in various property and commercial transactions. |
| 5. | apply trust and general accounting principles in a conveyancing transaction. |
This subject also contributes specifically to the development of the following graduate attributes:
- Legal Knowledge
An advanced and integrated understanding of a complex body of legal knowledge including the Australian legal system, social justice, cultural and international contexts, the principles and values of ethical practice, and contemporary developments in law and its professional practice (1.0) - Critical Analysis and Evaluation
A capacity to think critically, strategically and creatively including an ability to identify and articulate complex legal issues, apply reasoning and research to generate appropriate theoretical and practical responses, and, demonstrate sophisticated cognitive and creative skills in approaching complex legal issues and generating appropriate responses. (3.0) - Communication and Collaboration
Effective and appropriate professional communication skills including highly effective use of the English language, an ability to inform, analyse, report and persuade using an appropriate medium and message and an ability to respond appropriately. (5.0)
Teaching and learning strategies
Strategy 1: Students’ Preparation and Reflection
Students are required to plan their time so they can prepare for each lecture and workshop as well as reflect upon what they have learnt. Prior to each lecture students are expected to have read the lecture notes (in the Subject Documents/Lectures folder on UTSOnline) and the readings relating to each topic (set out in the Subject Outline on UTSOnline). Reading and understanding the lecture notes should take approximately one hour per week. Reading the essential weekly readings and research to prepare for activities should take approximately two hours per week, although some students may wish to allocate more time to research, depending on their level of knowledge.
Students are also encouraged to read beyond the essential reading list. Readings are available as e-readings via the UTS Library or websites as indicated. There are also specific preparation activities posted on UTSOnline to enable students to prepare for collaborative discussion in workshops or on the Discussion Board.
Good time management skills are essential for lawyers and students alike. Students should plan their timetable carefully in order to achieve the learning objectives in a structured and efficient manner within a practice of work/life balance.
Strategy 2: Exploring the Principles for Practice
Lectures and readings provide students with access to the law, practice and procedure related to the topics and link legal knowledge to its application in practice. These resources enable students to build on the legal knowledge acquired in their prior law subjects by developing their capacity to identify relevant legal principles in a professional scenario. Students can also explore their understanding of applying the law by asking questions in lectures, workshops (including the optional on-campus workshop for off-campus students) and on UTSOnline. Lectures are recorded and posted with the powerpoint slides on UTSOnline after each lecture. They provide useful review materials, alongside the lecture preparation notes available for students prior to each lecture.
Strategy 3: Simulated Professional Practice
Students are required to conduct a practice file for a residential conveyancing transaction. Independent completion of the practice file steps allows students to learn at a time that suits them, however, some deadlines are imposed to ensure effective completion. Dates are specified for exchanging and settling the conveyancing transaction as they are in legal practice. Students draft a commercial lease and consider issues relating to the sale and purchase of a business, including the appropriate business structure and revenue and leasing issues, in collaborative problem solving groups. Students apply what they have learnt from lectures and their reading. Feedback is provided on practice-based activities during workshops, on the UTSOnline Discussion Board as well as in written feedback on marked assignments. An optional evening workshop also provides opportunities for questions and feedback on the practice file for off campus students.
Strategy 4: Learning through Discussion and Collaboration
Each week students engage in collaborative discussions on aspects of the Practice File and other activities relating to skills required in practice, either during on campus workshops or on the dedicated UTSOnline Discussion Board. These discussions provide practice at analysing factual material, identifying legal issues, collaborating with other practitioners to seek resolutions and communicating with clients in a clear and concise manner. Feedback is immediately provided by clinical practitioners and peers. Discussions also provide an opportunity for students to obtain clarification about ongoing learning and assessments and prepare students for the collaborative problem solving in Assessable Task 3 and the analysis, explanations and drafting required in Assessable Task 4.
Students engage in a collaborative drafting activity in on campus workshops or on the UTSOnline Discussion Board with immediate feedback from clinical practitioners. This feedback is in preparation for the drafting component of Assessment Task 2 and Assessable Task 4.
Assessable Task 3 involves students actively contributing to the collaborative identification and resolution of specific problems posted on UTSOnline over a three week period. On campus students collaborate in teams in workshops and off campus students collaborate in allocated teams posted on UTSOnline using threads on the Discussion Board. Immediate feedback is provided by peers and clinical practitioners, and clinical practitioners provide written feedback at the conclusion of the three week period.
Students are encouraged to post questions, contributions and helpful information for their colleagues throughout the session.
Subject Delivery and Expectation of Student Participation
Each week there is a 1 hour lecture commencing in week 1. Weekly modules consist of lectures, readings and activities, which collectively cover the Competencies for this subject.
On campus students also attend a 2 hour workshop each week from week 1. Students allocate themselves into a workshop group.
Off campus students engage in activities and discussions on UTSOnline Discussion Board and may choose to attend an optional 2.5 hour workshop about the practice file. Activities will be posted on UTSOnline at least two weeks before each workshop.
Content
- Introduction and Revenue Implications in Property and Commercial Transactions
- Contract for Sale of Land – The Contract and Pre-exchange
- Contract for Sale of Land – Exchange to Settlement
- Mortgages and Securities
- Commercial Leases
- Business Structures
- Contract for Sale of Business – Pre-exchange and Exchange
- Contract for Sale of Business – Post-exchange to Settlement
- Strata Title
- Powers of Attorney, Options, Residential Tenancies
- Exam Briefing
Assessment
Assessment task 1: Practice File
| Objective(s): | This task addresses the following subject learning objectives: 1, 2, 3, 4 and 5 This task contributes specifically to the development of the following graduate attributes: 1.0, 3.0 and 5.0 |
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| Weight: | 35% |
| Criteria: |
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Assessment task 2: Commercial Advice
| Objective(s): | This task addresses the following subject learning objectives: 1, 2, 3 and 4 This task contributes specifically to the development of the following graduate attributes: 1.0, 3.0 and 5.0 |
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| Weight: | 20% |
| Length: | 1,500 words |
| Criteria: |
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Assessment task 3: Collaborative Problem Solving
| Objective(s): | This task addresses the following subject learning objectives: 3 This task contributes specifically to the development of the following graduate attributes: 1.0 and 3.0 |
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| Weight: | 5% |
| Length: | 100 words each week |
| Criteria: |
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Assessment task 4: Exam
| Objective(s): | This task addresses the following subject learning objectives: 1, 2, 3, 4 and 5 This task contributes specifically to the development of the following graduate attributes: 1.0, 3.0 and 5.0 |
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| Weight: | 40% |
| Length: | Two (2) hours |
| Criteria: |
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Required texts
- Legislation referred to in Lectures
- College of Law Practice Papers (e-readings) as directed in this Subject Outline
- Websites and other material as directed.
Recommended texts
- Baalman J, Wells T and Nettle K, Baalman and Wells’ Land Titles Office Practice NSW’, LawBook Company
- Butt, P, Land Law, 6th ed. Thomson Reuters, 2010
- Gray J, Edgeworth B, Foster N and Grattan S, Property Law in New South Wales, 3rd ed, LexisNexis, 2012
- Tooher, J and Dwyer, B Introduction to Property Law, 5th ed. 2008 LexisNexisButterworths
- Young PW, Cahill A and Newton G, Annotated Conveyancing and Real Property Legislation New South Wales 2014-2015, LexisNexis, 2014
- Turner, C and Trone J, Australian Commercial Law, 30th ed. Thomson Reuters, 2014
Other resources
- Other materials and information can be found on The Law Society website
- External Links on UTSOnline for this subject.
