Course Title: Take instructions in relation to a transaction
Part B: Course Detail
Teaching Period: Term1 2008
Course Code: LAW5138C
Course Title: Take instructions in relation to a transaction
School: 650T TAFE Business
Campus: City Campus
Program: C5180 - Diploma of Financial Services (Conveyancing)
Course Contact : Joanne Mackay
Course Contact Phone: +61 3 9925-5540
Course Contact Email:Joanne.Mackay@rmit.edu.au
Name and Contact Details of All Other Relevant Staff
Nominal Hours: 120
Regardless of the mode of delivery, represent a guide to the relative teaching time and student effort required to successfully achieve a particular competency/module. This may include not only scheduled classes or workplace visits but also the amount of effort required to undertake, evaluate and complete all assessment requirements, including any non-classroom activities.
Pre-requisites and Co-requisites
None
Course Description
This unit describes the function associated with taking instructions from clients in regard to dealings with real or personal property.
National Codes, Titles, Elements and Performance Criteria
National Element Code & Title: |
FNSCONV501A Take instructions in relation to a transaction |
Element: |
Establish the client’s needs |
Performance Criteria: |
Consultation to assess and verify expectations |
Element: |
Determine contingency strategies |
Performance Criteria: |
2.1. Identify and assess any conflict of interest |
Element: |
Determine terms of engagement |
Performance Criteria: |
3.1. Identification of parties properties and interests relevant to the transaction, including differences between common law and Torrens systems |
Element: |
Identify any conflict of interest between conveyancer and client |
Performance Criteria: |
4.1 Compliance with legislation |
Element: |
Identify parties, properties and other interests |
Performance Criteria: |
5.1. Assess and articulate contingency plans |
Element: |
Initiate the transaction |
Performance Criteria: |
6.1. Discuss procedures |
Learning Outcomes
On completion of the course students should be able to:
- recognise and analyse the principle concepts of property law and contract law as relevant underpinning knowledge in a conveyancing transaction.
- Property law concepts include estates and interests, co ownership, fixtures and chattels, Transfer of Land Act, leases, mortgages, easements and covenants.
- The law of contract examines all elements of the valid simple contract, misrepresentation and mistake, terms, capacity, discharge.
Details of Learning Activities
Students will study property law skills required to take instructions in relation to a transaction, and theory in class sessions and through prescribed exercises and assessment work. These concepts will also be explored through the investigation of appropriate real world and simulated environments.
Teaching Schedule
Easements and covenants Easements and covenants Easements and covenants
WEEK AND DATE | WEEKLY SCHEDULE | ASSESSMENT |
Week 1 – 13th Feb | Introduction to conveyancing program | |
Week 2 – 20th Feb | Interests in land, fixtures and chattels | |
Week 3 – 27th Feb | Fixtures and chattels | |
Week 4 – 5th Mar | Co - ownership | |
Week 5 – 12th Mar | Co-ownership, old law system | Case study test 20% |
Week 6 – 19th Mar | Torrens system | |
20th – 26th Mar | Mid Semester Break (Student Vacation) | |
Week 7 – 2nd Apr | Torrens system | |
Week 8 – 9th April | Adverse possession | |
Week 9 - 16th April | Adverse possession | Mid semester test 30% |
Week 10 – 23rd April | Mortgages | |
Week 11 – 30th April |
Mortgages | |
Week 12 – 7th May | Leases and Tenancies | |
Week 13 – 14th May | Leases and Tenancies | |
Week 14 – 21st May | Easements and covenants | |
Week 15 – 28th May | Easements and covenants | |
Week 16 - 4th June | revision | |
Week 17 – 11th June | Final assessment | Open book test 40% |
Week 18 – 18th June | review |
Learning Resources
Prescribed Texts
Property Law Learner’s Resource Australian Training Products TF/205/GEN/393/LP |
References
Texts |
Other Resources
Overview of Assessment
Assessments may include: short in class exercises, class tests, question and answer activities, assignments and open book exams.
Students will be provided with formative feedback to establish their progress in the course and identify areas which need more work.
Assessment Tasks
Assessment will be by means of:
Case study test 20%
Mid semester test 30%
Final Test (2 hours – open book) 50%
100%
Class Activities. Students are expected to actively participate in class discussion with relevant questions and answers to tutorial and revision questions.
Case study test will be conducted under open book conditions. This means students can bring into the test in any written materials they wish. It will be for one hour in week 5. There will be multiple choice, true and false and short questions requiring answers not exceeding 10 lines. Maximum mark 20%. The case will be set in week 2.
Mid semester test will be held under open book conditions on the material covered in the first half of the semester to the end of the Torrens title topic
Final test: In week 17 under open book conditions covering the whole semester. You will be asked to give written advice on problems you are given. The maximum mark is 50% and the time allowed for the test 2 hours plus 5 minutes reading time.
Assessment Matrix
Learning Outcomes | Case study | test | final test |
1. Establish the clients needs | X | X | X |
2. Identify any conflict of interest | X | X | X |
3. Identify parties, properties and other interests | X | X | X |
4. Determine terms of engagement | X | X | |
5. Determine contingency strategies | X | ||
6. Initiate the transaction | X |
Other Information
The teaching and assessment schedule is draft only at time of writing and subject to occasional variation
Course Overview: Access Course Overview