London School of Economics and Political Science (LSE)

Modules

Commercial Law [204]

Agency, sale of goods, international trade and finance and principles of secured financing

1. Agency. The nature and creation of the principal and agent relationship and the scope of the agent's authority. The position of the principal and agent vis-a-vis third parties; contracts and torts; passing of property by agents and the Factors Act, 1889. Rights and duties of principal and agent inter se. Termination of agency.

2. Sale of goods. The nature of goods, property and title, possession and delivery, risk and frustration. Contents of the contract, performance and remedies. The Sale of Goods Act, 1979.

3. International Trade and Finance. C.I.F., F.O.B. and other special forms of international sales. Vienna Convention on International Sales. The financing of international sales. Carriage of goods by sea and the rights and duties of the sea carrier.

4. Principles of Secured Financing. The classification and characteristics of credit and security. Creation, perfection and priorities. The floating charge. Specific Forms of Secured Business Finance: conditional sale, hire purchase and the finance lease (excluding the Consumer Credit Act 1974).

5. The emergence of a new international commercial law? The codification of commercial law. The emergence of a new lex mercatoria.

[Note: Students will be expected to be familiar with the principles of bailment so far as is necessary for a complete understanding of the topics within the syllabus.]

[Note: Students are permitted to bring into the examination hall the following specified documents:One Queen's Printer copy (or one photocopy of a Queen's Printer copy) of each of the following: Factors Act 1889; Misrepresentation Act 1967; Supply of Goods (Implied Terms) Act 1973; Unfair Contract Terms Act 1977; Sale of Goods Act 1979; Supply of Goods and Services Act 1982; Consumer Protection Act 1987; Sale and Supply of Goods Act 1994; Sale of Goods (Amendment) Act 1995 and one of the following: one copy of Blackstone's Statutes on Commercial & Consumer Law, or one copy of Butterworth’s Commercial and Consumer Law Handbook or one copy of Sweet and Maxwell’s Consumer Law Statutes.]