LAW585
Commercial Transactions
(Wood)
Prerequisite courses:
Prerequisite for:
Instructor(s): Professor Roderick Wood
Course credit: 3
Method of presentation: Lecture
Teamwork:
METHOD OF EVALUATION
Forty percent (40%) the marks in this course will be based on an assignment that involves the review of an existing sales agreement, a redrafting of the agreement so as to satisfy the objectives communicated to you by your client, and the preparation of a client letter. and the drafting of a commercial contract. A ten percent mark will be given for class participation. The remaining marks will be allocated on the basis of a 2 hour open book exam composed primarily of short answer questions.
COURSE DESCRIPTION
Commercial law is the body of law that governs transactions between commercial entities. The course explores four areas of commercial law: (1) the law of guarantees; (2) sale of goods law; (3) negotiable instruments law; and (4) securities transfer law. The law of guarantees governs contractual undertakings to answer for another person’s default. Sales law deals with the implied terms, passage of property and other related issues under a contract for the sale of goods. Negotiable instruments law examines the legal issues involved in the use of bills of exchange and cheques. Securities transfer law examines both the direct and indirect holding systems involved in holding and transferring securities.
An additional feature of this course is that its focus is on transactional lawyering and it will allow students to develop important skills employed by commercial lawyers, namely: (1) contract review; (2) legal drafting; and (3) effective communication with clients. This course is highly transportable as for students intending to practice outside of Alberta since this body of law is substantially the same in all the common law provinces and territories.
SPECIAL COMMENTS
Description updated 2025-26. Please contact the instructor for any specific questions you may have related to this particular course section.
REQUIRED TEXTS (IF ANY)
This is a Zero Textbook Cost Course. All required materials are electronically available on TWEN.