SQE Business Law and Practice
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The SQE Business Law and Practice module focuses on assessing a your ability to apply core legal principles and rules at the level expected of a newly qualified solicitor. The assessment simulates real-life client-based and ethical problems that a solicitor might encounter in practice, testing his legal skills and judgment in several key areas.
One important area is the formation of a business, where you must demonstrate an understanding of different business structures, such as companies, partnerships, limited liability partnerships, and sole traders. The ability to advise clients on the appropriate structure based on their needs, legal obligations, and risks is crucial. This includes advising on the advantages and disadvantages of each type of business entity and the steps required for setting up and registering these entities.
In managing a business, you are expected to ensure that company decision-making complies with statutory and legal requirements. This involves a thorough understanding of corporate governance, the roles and duties of directors, and the responsibilities of those managing the company, particularly in light of legal frameworks such as the Companies Act. Furthermore, you must advise on how businesses can comply with ongoing legal obligations, including tax filing, reporting, and compliance with employment and health and safety laws.
Another focus is on the interests, rights, and obligations of business stakeholders, including shareholders, partners, and creditors. You must be familiar with the powers that these stakeholders have within the business and understand the legal protections and remedies available to them, particularly in cases where there may be disputes or concerns about the management or profitability of the business.
You must also demonstrate knowledge of financing a business, advising clients on options for raising capital and managing business finances, whether through equity, debt, or alternative financing arrangements. Understanding the implications of taking on debt, issuing shares, and complying with relevant legal regulations is essential. This is closely tied to the taxation of businesses, where you must provide advice on the tax implications of different business structures and transactions, ensuring that clients are aware of their tax obligations and opportunities to optimise their tax positions.
Finally, the assessment covers the termination of businesses, including both solvent and insolvent companies. You are expected to understand the procedures involved in winding up a company, dealing with corporate insolvency, and managing personal bankruptcy cases. You must demonstrate competence in advising clients on the legal and practical steps for dissolving a business, protecting stakeholders' interests, and complying with relevant insolvency legislation.
Throughout the assessment, you are required to act with integrity, adhering to the SRA Principles, Statement of Solicitor Competence, and the Code of Conduct. This means you must show not only technical legal knowledge but also ethical decision-making skills. You are also required to advise clients honestly, competently, and in a manner consistent with professional standards.
One important area is the formation of a business, where you must demonstrate an understanding of different business structures, such as companies, partnerships, limited liability partnerships, and sole traders. The ability to advise clients on the appropriate structure based on their needs, legal obligations, and risks is crucial. This includes advising on the advantages and disadvantages of each type of business entity and the steps required for setting up and registering these entities.
In managing a business, you are expected to ensure that company decision-making complies with statutory and legal requirements. This involves a thorough understanding of corporate governance, the roles and duties of directors, and the responsibilities of those managing the company, particularly in light of legal frameworks such as the Companies Act. Furthermore, you must advise on how businesses can comply with ongoing legal obligations, including tax filing, reporting, and compliance with employment and health and safety laws.
Another focus is on the interests, rights, and obligations of business stakeholders, including shareholders, partners, and creditors. You must be familiar with the powers that these stakeholders have within the business and understand the legal protections and remedies available to them, particularly in cases where there may be disputes or concerns about the management or profitability of the business.
You must also demonstrate knowledge of financing a business, advising clients on options for raising capital and managing business finances, whether through equity, debt, or alternative financing arrangements. Understanding the implications of taking on debt, issuing shares, and complying with relevant legal regulations is essential. This is closely tied to the taxation of businesses, where you must provide advice on the tax implications of different business structures and transactions, ensuring that clients are aware of their tax obligations and opportunities to optimise their tax positions.
Finally, the assessment covers the termination of businesses, including both solvent and insolvent companies. You are expected to understand the procedures involved in winding up a company, dealing with corporate insolvency, and managing personal bankruptcy cases. You must demonstrate competence in advising clients on the legal and practical steps for dissolving a business, protecting stakeholders' interests, and complying with relevant insolvency legislation.
Throughout the assessment, you are required to act with integrity, adhering to the SRA Principles, Statement of Solicitor Competence, and the Code of Conduct. This means you must show not only technical legal knowledge but also ethical decision-making skills. You are also required to advise clients honestly, competently, and in a manner consistent with professional standards.
