General Comments and ILAC Information

This section covers some general advice regarding assessments, specifically focusing on assessment three and the ILAC (Issue, Law, Application, Conclusion) method.

The instructor expresses hope that the provided comments will assist students in their development of ILAC assignments. The instructor encourages any questions regarding marks to be directed via email to ensure efficiency in addressing concerns, stating:

• Important Note: Marking may lead to changes—marks could decrease, remain unchanged, or improve after reassessment.

• The instructor reassures that all marking is conducted with integrity, aiming for an honest assessment of student content.

Student Progress and Exam Structure

• The instructor inquires about the well-being of the students, noting a rapport during preparation for examinations. Acknowledgement of recent exams indicates students might feel overwhelmed yet are coping.

• The instructor highlights that students have faced a tight exam schedule, mentioning specific subjects:

  • Accounting: Exam scheduled on Monday

  • Finance: Exam scheduled on Tuesday

• The instructor finds it curious that law exams are scheduled for the second week rather than the first week.

Exam Timing Preferences

• The discussion includes a preference for exam timing, with the instructor expressing a dislike for 09:00 exams. Participants share varying opinions:

  • Some prefer morning exams, finding them beneficial to get done early.

  • Others discuss the panic associated with waiting for afternoon exams. Personal preferences for exam timing reflect individual study and performance habits.

Exam Preparation Strategies

Several strategies for effective exam preparation are discussed:

• Students are advised to not spend excessive time on the first assessment types, focusing instead on short answers that reflect knowledge of material covered in previous assessments.

• Instructor mentions the similarity in marking between short-answer questions and problem questions, indicating efficiency in preparation.

• For long-answer questions, students should:

  • Choose from three out of four questions, aiming for topics they recognize and feel comfortable addressing related to previously covered content.

  • Bring copies of assessments two and three during the exam for reference, aiding in recall and verification of key concepts.

  • Create quick review and summary notes to streamline the search for answers during the exam, underlining the importance of efficiency in locating relevant information. The instructor emphasizes:

  • "We lawyers don't know everything, but we know where to find it."

Discussion on Shareholders and Board Members

• A particular scenario regarding shareholders and board members is brought up, specifically where shareholders express concern about a board member persuading the board to sign a contract. Key points include:

  • Shareholders must demonstrate that board members failed in due diligence for intervention.

  • The distinction between a board member and a director is clarified; the focus should be on the role of the board in decision-making processes.

  • Shareholders do not have the authority to dictate actions to board members.

  • Important figures involved in corporate governance include directors, officers, CEOs, and CFOs.

ILAG Exercise and Short Answer Preparation

• A student raises concerns about preparing answers for the ILAG exercise. The instructor recommends:

  • Reviewing each module thoroughly and summarizing key points in a succinct manner (two to three sentences maximum).

  • Emphasizing retrieval of names of cases and sections of legislation without needing full references during exams. For example:

  • Just mention “Section eight of [Act Name]” or the name of a case, such as “Adler.”

Exam Structuring and Time Management

• The instructor emphasizes the importance of managing time during the exam effectively:

  • Suggested breakdown of exam segments:

  • Short Answers: Limited to forty seconds per question, acknowledging time constraints.

  • Long Answers: Students are reminded not to spend too long on the initial part of the exam and to prioritize their three chosen long answers wisely.

  • Importance of referencing is clarified: No extensive references or citations needed during examinations; knowledge of relevant cases and legislation suffices for scoring.

Overall Coverage of Topics in the Exam

• The instructor confirms that all topics presented during the course will be examined, indicating that students should be prepared for a comprehensive assessment across:

  • At least thirteen topics, including significant but tedious areas such as liquidation.

  • There are no particular themes highlighted as more important than others, signifying the need for breadth in study efforts.

Final Remarks and Interaction

• The instructor establishes an open channel for communication before examinations, inviting students to reach out for assistance with practice answers and conceptual clarifications.

  • The session closes with warm wishes for health, encouragement to complete student surveys for feedback, and expressions of goodwill towards upcoming exams. The instructor showcases their availability and support throughout the exam period, fostering a supportive learning environment.