Undergraduate Module Descriptor

LAW3194C: The Law of Corporate Finance

This module descriptor refers to the 2021/2 academic year.

Module Aims

The module provides a solid foundation in the complexities of corporate finance and its regulation, enabling you to both understand both the nature and strategic role of different financing options, as well as understanding some of the key laws and rules governing how finance is managed within a company and the financial liability of different stakeholders and agents in the event of corporate insolvency. In addition to an end of module exam, the course also continually assesses students through frequent mini-exams testing them on their reading, to truly ensure that students completing this module have a stronger command of the breadth of the law, practice and rules in this field.

This module is designed to students with a clinical and practice-oriented understanding of corporate finance law, in order to prepare them for a career in the commercial, legal or financial sector.

Intended Learning Outcomes (ILOs)
This module's assessment will evaluate your achievement of the ILOs listed here – you will see reference to these ILO numbers in the details of the assessment for this module.
On successfully completing the programme you will be able to:
Module-Specific Skills	1. Evidence detailed knowledge and understanding of the principal features and key rules of corporate finance law; 2. Identify, critically appraise and explain issues and legal rules arising in the key areas of corporate finance law; 3. Provide accurate, detailed and reasoned advice in relation to different issues and challenges in corporate finance law.
Discipline-Specific Skills	4. Understand and access a range of different sources of law and learning materials, using them appropriately to explain issues, critique arguments or provide answers; 5. Select, integrate and present coherently and reflectively, relevant law and legal/theoretical arguments from various sources;
Personal and Key Skills	6. Manage relevant learning resources or learning strategies to develop own arguments and opinions with minimum guidance; 7. Communicate and engage in written arguments effectively and accurately in a manner appropriate to the discipline or in different contexts.

Module Content

Syllabus Plan

Whilst the module’s precise content may vary from year to year, it is envisaged that the syllabus will cover some or all of the following topics:

Equity and Loan Capital
Share Types and Shareholdings
Raising Equity and Issuing Debentures
Capital Maintenance & Reduction
Share Buy-Backs
Rules Against Financial Assistance
Loan Security (Registration and Priority of Charges)
Insolvency and Mechanisms of Corporate Rescue
Swelling Assets for Distribution on a Winding Up
Priority of Distribution on a Winding Up
Director Liability on Insolvency
Liability, Procedural Safeguards and Remedies

Learning and Teaching

This table provides an overview of how your hours of study for this module are allocated:

Scheduled Learning and Teaching Activities	Guided independent study	Placement / study abroad
30	120	0

...and this table provides a more detailed breakdown of the hours allocated to various study activities:

Category	Hours of study time	Description
Scheduled Learning and Teaching Activities	10	10 x 1-hour lectures
Scheduled Learning and Teaching Activities	20	10 x 2-hour seminars
Guided Independent study	33	Individual reading and lecture preparation
Guided Independent study	44	Seminar preparation
Guided Independent study	13	Formative written work preparation
Guided Independent study	30	Summative written assessment preparation

Online Resources

This module has online resources available via ELE (the Exeter Learning Environment).