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 2023 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 OR 108 credit points of completed study in spk(s): STM90831 Juris Doctor 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 132 credit points of completed study in spk(s): C04320 Juris Doctor Graduate Certificate Professional Legal Practice)) 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 learning objectives (SLOs)
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 within a prescribed time period. |
|---|---|
| 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 in a professional and effective manner. |
| 4. | draft clear and concise legal documents in accordance with client instructions in various property and commercial transactions. |
| 5. | apply general accounting principles in a conveyancing transaction. |
Course intended learning outcomes (CILOs)
This subject also contributes specifically to the development of the following graduate attributes which reflect the course intended learning outcomes:
- Legal Knowledge
a. A specialised understanding of the application of a complex body of legal knowledge within the context of legal practice in the Australian legal system, the principles and values of ethical practice, and contemporary developments in law and its professional practice.
b. Demonstrate adherence with the PLT Competency Standards for Entry-level Lawyers as determined by the Law Admissions Consultative Committee (LACC). (1.1) - Critical Analysis and Evaluation
a. 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.
b. Identify, synthesise and articulate complex legal and technical issues and apply analytical skills to identify innovation and generate clear, succinct and novel responses. (3.1) - Communication
a. 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 respectfully.
b. Communicate accurately and appropriately with multidisciplinary audiences in a range of specialised formats, including productive collaboration with professional teams and clients. (5.1) - Collaboration
a. Specialised collaboration skills, including effective team work to achieve a common goal in a group learning environment or the workplace.
b. Take responsibility to give feedback and to respond to feedback in a professional context, to work effectively with colleagues and other stakeholders and to resolve challenges through effective negotiation. (6.1)
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 activity 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 Canvas) and the readings relating to each topic (set out in the Subject Outline on Canvas). The weekly recorded lectures are one hour long. 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 self-assessed activities posted on Canvas to prepare for Assessable Tasks.
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 clear and efficient manner.
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 workshops and on Canvas. Lectures are recorded and posted with the powerpoint slides on Canvas. They provide useful review materials, alongside the lecture preparation notes available for students.
Strategy 3: Simulated Professional Practice
Students are required to conduct a practice file in a residential conveyancing transaction. Completion of practice file steps allows students to learn at a time that suits them and implement self management of the required legal tasks. However, certain deadlines have to be imposed to ensure an effective learning strategy and to reflect professional practice. For example, as in legal practice, there are specific dates by which students must exchange and settle the conveyancing transaction. Accountability and professionalism are essential attributes in legal practice and students are encouraged, through the file management, to develop life-long strategies for meeting their ethical obligations, including compliance with due dates, completion times and clients’ instructions.
Students also undertake the drafting of 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 both an assessable assignment and collaborative problem solving groups. Students utilise knowledge gained from lectures and recommended reading. Feedback is provided in workshops and on the Canvas discussion board and when marked assignment tasks are returned.
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, in workshops and on the dedicated Canvas 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.
Students engage in a drafting activity with immediate feedback from clinical practitioners. This feedback is in preparation for the drafting component of Assessable Task 2.
Assessable Task 3 involves students actively contributing to the collaborative identification and resolution of specific problems posted on Canvas over a three week period. Students collaborate in allocated teams posted on Canvas 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
Transactional Practice is structured to be completed in one university session. There are weekly modules consisting of recorded lectures, readings, activities and recorded and printed information relating to those activities, discussion boards, workshops and zoom sessions, which collectively cover the competencies for the subject. All materials are posted on Canvas at least two weeks before each activity is scheduled to enable students to do the self-initiated reading and research required for them to contribute to discussion.
Content (topics)
-
Revenue Implications in Property and Commercial Transactions
-
Vendor’s Title and the Sale Contract
-
Acting for Vendors and Purchasers of Land - pre-exchange to post-exchange
-
Acting for Vendors and Purchasers of Land - pre-settlement to post-settlement
-
Mortgages and Securities
-
Commercial Leases - General
-
Commercial Leases - Common Provisions
-
Business Structures
-
Contract for sale of business – pre-exchange to exchange
-
Contract for sale of business – post-exchange to post-settlement
-
Strata Title
-
Powers of Attorney, Options, Residential Tenancies
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: 1.1, 3.1 and 5.1 |
|---|---|
| Weight: | 50% |
| Criteria: |
|
Assessment task 2: Commercial Advice and Drafting
| 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: 1.1, 3.1 and 5.1 |
|---|---|
| Weight: | 26% |
| Length: | 1,500 words |
| Criteria: |
|
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: 1.1, 3.1 and 6.1 |
|---|---|
| Weight: | 9% |
| Length: | 150 x 3 |
| Criteria: |
|
Assessment task 4: Client Advice
| Weight: | 15% |
|---|---|
| Length: | 1200 words |
| Criteria: |
|
Required texts
- Legislation referred to in Lectures
- Lexis Advance Pacific Practical Guidance (e-readings) as directed in this Subject Outline
- Websites and other material as directed.
Recommended texts
- Baalman and Wells Land Titles Office Practice, Westlaw AU
- Edgeworth B, Butt's Land Law, 7th ed. Thomson Reuters, 2017
- Gray J, Property Law in New South Wales, 4th ed, LexisNexis, 2017
- Tooher J & Dwyer B.M., Introduction to Property Law, 5th ed. 2008 LexisNexis Butterworths
- Young P, Annotated Conveyancing and Real Property Legislation New South Wales 2017-2018, LexisNexis Butterworths 2018
- Turner, C & Trone J & Gamble R, Concise Australian Commercial Law, 6th ed. Thomson Reuters, 2021
Other resources
- Other materials and information can be found on The Law Society website
- External Links on CANVAS for this subject.