CML2010S - Business Law II
18 credits at NQF level 6
Business Law I and no undergraduate student in his/her first year of study may register for Business Law II.
Business law II is designed to give students an understanding of commercial transactions, how they are financed and the risks involved. The course covers insolvency, credit agreements, the various forms of security that can be used to finance commercial transactions as well as insurance and methods of payment. We briefly discuss intellectual property, focussing on its value as an asset which can be used as security to finance transactions. By the end of the course, students should have an appreciation of the types of legal issues that commonly arise in financing transactions – how creditors can best secure themselves in the event of non-payment and ultimately the risk of insolvency; how debtors are protected under the National Credit Act and by the courts; as well as the benefits of insurance and the risks and possibility of the insurer rejecting a claim.