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.
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%
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
- Contract of employment
- Dismissal and redundancy
The formation and constitution of business organisations
- Agency law
- 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 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.