Please note: there may be some adjustments to the teaching arrangements published in the course catalogue for 2020-21. Given current circumstances related to the Covid-19 pandemic it is anticipated that some usual arrangements for teaching on campus will be modified to ensure the safety and wellbeing of students and staff on campus; further adjustments may also be necessary, or beneficial, during the course of the academic year as national requirements relating to management of the pandemic are revised.

Commercial Law (Honours) LAW4004

  • Academic Session: 2022-23
  • School: School of Law
  • Credits: 30
  • Level: Level 4 (SCQF level 10)
  • Typically Offered: Runs Throughout Semesters 1 and 2
  • Available to Visiting Students: No
  • Available to Erasmus Students: No

Short Description

The primary focus of the course is amelioration of risk in relation to with debt, rights in security and trusts. The course is primarily concerned with the technical detail of Scots law in order that students who proceed into practice - whether in the UK or abroad - have a firm grasp of the basic principles of corporate finance as it is practiced in the UK. 


2 hour weekly seminars - Friday 1300-1500

Requirements of Entry

Property Law (level 2)

Commercial Law (level 2)

This course is only available to LL.B students

Excluded Courses





 Summative essay submitted at the end of semester 1 (in either December or January) worth 25% and Degree exam in May/June worth 75%

Main Assessment In: April/May

Course Aims

The aim of the course is to


■ Provide a critical understanding of the relationship between debt, insolvency and security

■ Equip students to analyse the principles of diligence, rights in security, trusts and insolvency law in commercial situations


And also to encourage and enable students to


■ take responsibility for effective individual and group discussion and problem solving exercises

■ develop research and problem solving skills

■ develop critical analysis and reasoning, both oral and written

Intended Learning Outcomes of Course

By the end of the course students should be able to:


■ demonstrate an understanding of how debt finance can be obtained, how debt is created and discharged and circulated

■ explain the general principles of the priority of secured and unsecured creditors on insolvency and to evaluate the various policy considerations that support preferences on insolvency

■ explain the effect of the law of security rights, conventional and legal, within and outwith insolvency and critically analyse the nature of the legal concepts involved

■ discuss in a critical manner the wider policy considerations involved in the use of functional securities

■ identify and explain the various rights in security available in Scots law in relation to different assets, debtors and creditors and to contrast the Scottish position with that in another legal system

■ analyse critically the primary legal materials on diligence, trusts, rights in security and insolvency and communicate the analysis to a range of audiences

■ evaluate and provide meaningful and informed comment on proposals for reform

Minimum Requirement for Award of Credits