2010/2011, Semester 2
Modular Credits: LL4005 ( 4 ) / LL5005 ( 4 ) / LL6005 ( 4 )
The focus of the course is on the documentation used by banks in a variety of common banking transactions. This involves an application of general contractual principles, as well as specific principles relating to the bank-customer relationship and lending and secured transactions. A number of standard term bank contracts will be examined with an emphasis on the object of the clauses, their legal background and the issues (legal and practical) that may arise. Drafting techniques and document analysis feature prominently. The aim of the course is to familiarise students with the terms likely to be included in a range of bank documents, promote an understanding of their effect, and consider the challenges arising in the drafting of commercial contracts. Students who successfully complete the course should be able to navigate their way around many standard form agreements (banking as well as other standard forms) and recognize and understand the operation of the usual clauses.
Seminar format - students are expected to particpate in class discussion.
The detailed synopsis can be found in the Workbin.
OUTLINE OF TOPICS
Topic 1 Introduction, general contractual principles
Topic 2 Boilerplate clauses
Topic 3 Current/Deposit Accounts
Topic 4 Overdrafts and Term Loans
Topic 5 Security over Receivables
Topic 6 Margin Trading Agreements, including Charges over Bank Deposits
Topic 7 Wealth Management
Topic 8 Letters of Credit and Trust Receipts – time permitting
Class participation – 25% of final mark
Research assignment – 25% of final mark
End of semester examination – 50% of final mark
Subject not offered to Graduate Diploma in Singapore Law students.