Outline

Overview

The process of creating effective security interests in personal property to secure performance of contractual obligations is a critical component of commercial dealings and financings. This unit examines how security may be taken over common forms of personal property through a detailed analysis of the legislative regime established by the Personal Property Securities Act 2009 (Cth). The unit explores the rationale for the comprehensive legislation as well as its underlying general principles and assesses the policy choices reflected in its balancing of a range of interests. An international and comparative perspective is offered through references to the Canadian and New Zealand experience in applying equivalent statutory frameworks, with part of the course materials drawn from these jurisdictions.

Unit details and rules

Unit code	LAWS3484
Academic unit	Law
Credit points	6
Prohibitions ?	LAWS5184
Prerequisites ?	LAWS2012
Corequisites ?	None
Assumed knowledge ?	None
Available to study abroad and exchange students	Yes

Teaching staff

Coordinator	Sheelagh McCracken, sheelagh.mccracken@sydney.edu.au

Type	Description	Weight	Due	Length
Supervised exam ?	Final exam (60%) Problem based discussion question	60%	Formal exam period	2 hours
Outcomes assessed:
Assignment	Assignment (long release) (40%) Problem based discussion question	40%	Week 09 Due date: 26 Apr 2024 at 14:00 Closing date: 10 May 2024	3,000 words / 18 days
Outcomes assessed:

Assessment summary

Assignment (40%)

This problem-based task will assess each student’s ability to: (i) correctly identify the legal issues that arise from the given facts; (ii) correctly identify the legal rules that are relevant to those issues (noting any areas of legal uncertainty); (iii) correctly apply the relevant rules to the issues so as to reach appropriate conclusions; (iv) develop arguments in a logical manner and by reference to statutory provisions and case law; and (v) employ a succinct and grammatically correct writing style.

The assignment will require a reasoned response of a maximum of 3,000 words to a problem question addressing issues covered up to (and including) the topic of perfection, thereby providing you with the opportunity to demonstrate your knowledge of the unit’s content and develop and practise the skills identified in the unit’s learning outcomes. The assignment provides practice for the final exam, which in turn provides a further opportunity for demonstration of knowledge and for development and practice of skills.

Assignment is due for release on Monday 8 April 2024 at 11am and due for submission on Friday 26 April 2024 at 2pm (Sydney Australia time).

Final Exam (60%)

The exam will be held during the formal exam period. Its duration is 2 hours, plus 30 minutes reading time.

It is a supervised exam, consisting of 1 problem based discussion question testing same ability as the assignment.

Word count penalty: A piece of assessment which exceeds the prescribed word limit will be read and marked only up to the specified word count. The total word count will exclude bibliography; footnote numbers; footnote citation; cover page and include body text; headings and sub-headings; quotations; anything other than numbers and citations in footnotes.

Use of editors or proof-readers: The use of assistance in preparing and editing assessment tasks in this unit of study is strictly prohibited. Assistance includes human and automated writing tools (not including spell checking).

Special consideration: Successful grants of Special Consideration may involve alternative tasks, as appropriate.

IMPORTANT NOTE: A student must make a genuine attempt at all assessment tasks set out in this Unit of Study in order to obtain a Pass mark and grade (or above); otherwise an Absent Fail grade will be recorded as the student’s result for this Unit of Study.

Assessment criteria

The University awards common result grades, set out in the Coursework Policy 2021 (Schedule 1).

As a general guide, a high distinction indicates work of an exceptional standard, a distinction a very high standard, a credit a good standard, and a pass an acceptable standard.

Result name	Mark range	Description
High distinction	85 - 100	• Completely answers the question. • Contains striking originality of approach or analysis. • Demonstrates exhaustive or innovative research (where independent research required). • Exceptionally well written, structured and expressed. • Is otherwise exceptional in some way.
Distinction	75 - 84	• Completely answers the question. • Achieves a critical and evaluative approach to the issues. • Content and structure is well organised in support of the argument. • Demonstrates extensive research and analysis to support a well-documented argument. • Generally well expressed and free from errors. • Has a clear structure and is well articulated.
Credit	65 - 74	• Covers main issues fairly well in answering the question. • Contains no significant errors • Demonstrates an attempted critical approach to the issues. • Demonstrates reasonably sound research and analysis in addressing the key issues. • Has a clear structure and reasonably clear expression.
Pass	50 - 64	• Identifies the key issues, but does not follow through with a reasoned argument. • Contains some significant errors. • Displays satisfactory engagement with the key issues. • Offers descriptive summary of material relevant to the question. • Superficial use of material, and may display a tendency to paraphrase. • Demonstrates little evidence of in-depth research or analysis. • Adequate expression. • Overall, demonstrates the minimum level of competence in the assessment and satisfies the requirements to proceed to higher-level studies in the degree or subject area.
Fail	0 - 49	• Does not answer the question. • Contains significant or numerous errors. • Few or no identifiable arguments. • Content that is inappropriate or irrelevant. • Lack of research or analysis. • Difficult or impossible to understand through poor grammar, expression or structure. • Overall, does not demonstrate the minimum level of competence in the assessment.

For more information see sydney.edu.au/students/guide-to-grades

For more information see guide to grades.

Late submission

In accordance with University policy, these penalties apply when written work is submitted after 11:59pm on the due date:

Deduction of 5% of the maximum mark for each calendar day after the due date.
After ten calendar days late, a mark of zero will be awarded.

This unit has an exception to the standard University policy or supplementary information has been provided by the unit coordinator. This information is displayed below:

The late submission of a piece of assessment, which has not been granted an extension, will attract a penalty of 10% of the total marks available for the piece of assessment per 24 hours or part thereof, after the due time on the due date. For example: A submission after 2pm but before the same time the following day will attract a 10% penalty. Late penalties will be strictly applied. The date and time of submission as recorded by Canvas is taken as the official and final record of a student's submission. Late penalties do not apply to exams and any late submission will not be accepted.

Academic integrity

The Current Student website provides information on academic integrity and the resources available to all students. The University expects students and staff to act ethically and honestly and will treat all allegations of academic integrity breaches seriously.

We use similarity detection software to detect potential instances of plagiarism or other forms of academic integrity breach. If such matches indicate evidence of plagiarism or other forms of academic integrity breaches, your teacher is required to report your work for further investigation.

You may only use artificial intelligence and writing assistance tools in assessment tasks if you are permitted to by your unit coordinator, and if you do use them, you must also acknowledge this in your work, either in a footnote or an acknowledgement section.

Studiosity is permitted for postgraduate units unless otherwise indicated by the unit coordinator. The use of this service must be acknowledged in your submission.

Learning support

Simple extensions

If you encounter a problem submitting your work on time, you may be able to apply for an extension of five calendar days through a simple extension.  The application process will be different depending on the type of assessment and extensions cannot be granted for some assessment types like exams.

Special consideration

If exceptional circumstances mean you can’t complete an assessment, you need consideration for a longer period of time, or if you have essential commitments which impact your performance in an assessment, you may be eligible for special consideration or special arrangements.

Special consideration applications will not be affected by a simple extension application.

Using AI responsibly

Co-created with students, AI in Education includes lots of helpful examples of how students use generative AI tools to support their learning. It explains how generative AI works, the different tools available and how to use them responsibly and productively.

Support for students

The Support for Students Policy 2023 reflects the University’s commitment to supporting students in their academic journey and making the University safe for students. It is important that you read and understand this policy so that you are familiar with the range of support services available to you and understand how to engage with them.

The University uses email as its primary source of communication with students who need support under the Support for Students Policy 2023. Make sure you check your University email regularly and respond to any communications received from the University.

Learning resources and detailed information about weekly assessment and learning activities can be accessed via Canvas. It is essential that you visit your unit of study Canvas site to ensure you are up to date with all of your tasks.

If you are having difficulties completing your studies, or are feeling unsure about your progress, we are here to help. You can access the support services offered by the University at any time:

Support and Services (including health and wellbeing services, financial support and learning support)
Course planning and administration
Meet with an Academic Adviser

Weekly schedule

WK	Topic	Learning activity
Week 01	Overview of personal property security regimes	Seminar (2 hr)
Week 01	Relationship of personal property security regimes with the general law	Seminar (2 hr)
Week 02	The concept of property under the PPSA	Seminar (2 hr)
Week 02	Identifying in substance security interests	Seminar (2 hr)
Week 03	Identifying in substance security interests (continued)	Seminar (2 hr)
Week 03	Identifying deemed security interests	Seminar (2 hr)
Week 04	Attachment	Seminar (2 hr)
Week 04	Enforceability against 3rd parties	Seminar (2 hr)
Week 05	Perfection	Seminar (2 hr)
Week 05	Review	Seminar (2 hr)
Week 07	Priority rules - default priority rules	Seminar (2 hr)
Week 07	Priority rules- special priority rules	Seminar (2 hr)
Week 08	Priority rules - scenarios	Seminar (2 hr)
Week 08	Accessions and commingling	Seminar (2 hr)
Week 10	Taking free rules	Seminar (2 hr)
Week 10	Proceeds	Seminar (2 hr)
Week 11	Enforcement and impact of insolvency	Seminar (2 hr)
Week 11	Registration issues	Seminar (2 hr)
Week 12	Economic importance of security rights	Seminar (2 hr)
Week 12	Review	Seminar (2 hr)

Attendance and class requirements

Attendance: All students are required to attend at least 70% of classes to satisfy the pass requirements for each unit of study. Failure to meet this requirement may result in a student being precluded from sitting the final assessment.

Referencing: The Sydney Law School expects you to use the Australian Guide to Legal Citation (4th edition, 2018) for your footnoting style, although you should confirm this with your lecturer, and a link to the library website where this is set out comprehensively is available at Referencing and Citation Styles: AGLC4 

Study commitment

Typically, there is a minimum expectation of 1.5-2 hours of student effort per week per credit point for units of study offered over a full semester. For a 6 credit point unit, this equates to roughly 120-150 hours of student effort in total.

Required readings

Required Readings

You should acquire a copy of the PPSA, together with the Replacement Explanatory Memorandum and the Regulations, all of which can be accessed at www.legislation.gov.au. The latest consolidation of the PPSA (as at 4 November 2023) is Compilation No 20. (Note that an annotated version, now in its fourth edition published in 2020, is available for purchase.)

You should start familiarising yourselves with the legislative provisions as soon as possible. As the unit focuses on the detailed provisions, you must bring a copy of the PPSA to all classes.

The prescribed textbook is: Sheelagh McCracken, Security Interests: Commentary and Cases, Thomson Reuters, Australia.

A Reading Guide will be posted to Canvas containing the full list of readings.

Learning outcomes

Learning outcomes are what students know, understand and are able to do on completion of a unit of study. They are aligned with the University's graduate qualities and are assessed as part of the curriculum.

Outcomes
Graduate qualities

At the completion of this unit, you should be able to:

LO1. construct a conceptual and analytical framework for the Personal Property Securities Act 2009 (Cth) (PPSA);
LO2. evaluate how the PPSA is applied in various common commercial transactions;
LO3. apply principles of statutory interpretation in resolving issues arising under the PPSA, and appraise the role of statute in commercial law;
LO4. critically compare and contrast legislation related to personal property securities from selected jurisdictions with Australian legislation.

Graduate qualities

The graduate qualities are the qualities and skills that all University of Sydney graduates must demonstrate on successful completion of an award course. As a future Sydney graduate, the set of qualities have been designed to equip you for the contemporary world.

GQ1	Depth of disciplinary expertise Deep disciplinary expertise is the ability to integrate and rigorously apply knowledge, understanding and skills of a recognised discipline defined by scholarly activity, as well as familiarity with evolving practice of the discipline.
GQ2	Critical thinking and problem solving Critical thinking and problem solving are the questioning of ideas, evidence and assumptions in order to propose and evaluate hypotheses or alternative arguments before formulating a conclusion or a solution to an identified problem.
GQ3	Oral and written communication Effective communication, in both oral and written form, is the clear exchange of meaning in a manner that is appropriate to audience and context.
GQ4	Information and digital literacy Information and digital literacy is the ability to locate, interpret, evaluate, manage, adapt, integrate, create and convey information using appropriate resources, tools and strategies.
GQ5	Inventiveness Generating novel ideas and solutions.
GQ6	Cultural competence Cultural Competence is the ability to actively, ethically, respectfully, and successfully engage across and between cultures. In the Australian context, this includes and celebrates Aboriginal and Torres Strait Islander cultures, knowledge systems, and a mature understanding of contemporary issues.
GQ7	Interdisciplinary effectiveness Interdisciplinary effectiveness is the integration and synthesis of multiple viewpoints and practices, working effectively across disciplinary boundaries.
GQ8	Integrated professional, ethical, and personal identity An integrated professional, ethical and personal identity is understanding the interaction between one’s personal and professional selves in an ethical context.
GQ9	Influence Engaging others in a process, idea or vision.

Outcome map

Learning outcomes	Graduate qualities
Learning outcomes

Responding to student feedback

This section outlines changes made to this unit following staff and student reviews.

No changes have been made since this unit was last offered, other than updating of materials, the scheduling of the unit and the setting of the assessment dates for the assignment.

Additional information

Resources - Sydney Law Students

Disclaimer

The University reserves the right to amend units of study or no longer offer certain units, including where there are low enrolment numbers.

To help you understand common terms that we use at the University, we offer an online glossary.

Current students

Overview

Overview

Unit details and rules

Teaching staff

Assessment

Assessment

Assessment summary

Assessment criteria

Late submission

Academic integrity

Learning support

Learning support

Simple extensions

Special consideration

Using AI responsibly

Support for students

Weekly schedule

Weekly schedule

Attendance and class requirements

Study commitment

Required readings

Learning outcomes

Learning outcomes

Graduate qualities

Outcome map

Responding to student feedback

Responding to student feedback

Additional information

Additional information

Disclaimer

On this page

Useful links

Media

Student links

About us

Connect

Current students

LAWS3484: Secured Transactions in Commercial Law

Semester 1, 2024 [Normal day] - Camperdown/Darlington, Sydney

Overview

Overview

Unit details and rules

Teaching staff

Assessment

Assessment

Assessment summary

Assessment criteria

Late submission

Academic integrity

Learning support

Learning support

Simple extensions

Special consideration

Using AI responsibly

Support for students

Weekly schedule

Weekly schedule

Attendance and class requirements

Study commitment

Required readings

Learning outcomes

Learning outcomes

Graduate qualities

Outcome map

Responding to student feedback

Responding to student feedback

Additional information

Additional information

Disclaimer

On this page

Useful links

Media

Student links

About us

Connect