Corporate and Business Law (LW)

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Corporate and Business Law (LW)

Navigate through the legal landscape of business and corporations with the ACCA’s Corporate and Business Law (LW) paper, designed to equip you with essential legal knowledge and its application to the world of commerce.


The Corporate and Business Law (LW) paper aims to develop your understanding of the general legal framework, and of specific legal areas relating to business, recognizing the need to seek specialist legal advice when necessary.

Exam Pattern

The LW exam is structured to assess your ability to identify and understand key legal issues:

Exam Duration: 2 hours
Exam Format: Computer-Based Exam
Question Types: Multiple-choice questions, multi-task questions, and scenario-based questions
Total Marks: 100
Pass Mark: 50%

Syllabus Overview

Essential elements of the legal system

  • Law and the legal system
  • Source of law

The law of obligations

  • Formation of contract
  • Content of contracts
  • Breach of contract and remedies
  • The law of torts and professional negligence

Employment law

  • Contract of employment
  • Dismissal and redundancy

The formation and constitution of business organisations

  • Agency law
  • Partnerships
  • Corporations and legal personality
  • The formation and constitution of a company

Capital and the financing of companies

  • Share capital
  • Loan capital
  • Capital maintenance and dividend law

Management, administration and the regulation of companies

  • Company directors
  • Other company officers
  • Company meetings and resolutions

Insolvency law

  • Insolvency and administration

Corporate fraudulent and criminal behaviour

  • Fraudulent and criminal behaviour

Exam Preparation and Tips

Maximize your exam success with these essential tips:

Understand the Legal Framework: Ensure you have a solid understanding of the legal system and how it applies to business.
Apply Knowledge to Scenarios: Practice applying your knowledge to different scenarios, as this is a key aspect of the exam.
Focus on Key Areas: Pay special attention to areas with higher mark allocations.
Practice Past Papers: Familiarize yourself with the exam format and question types.
Time Management: Practice managing your time effectively to ensure you can answer all questions.