Corporate and Business Law
Understand the legal framework that governs businesses, from contract law and employment law to company formation, capital, and insolvency. Essential legal knowledge for every accountant.
Exam Duration
2 hours
Pass Mark
50%
Students
30,000+
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ACCA Corporate and Business Law
Corporate and Business Law (LW) is the first paper at the ACCA Applied Skills level. It develops an understanding of the general legal framework within which businesses operate, and of specific legal areas relating to business including the law of obligations, employment law, the formation and operation of companies, and insolvency.
The paper covers essential elements of the legal system, contract formation and breach, employment rights, company formation and constitution, share and loan capital, directors' duties, company meetings, insolvency, and corporate fraudulent behaviour.
LW is unique among ACCA papers in that it is available in country-specific variants (e.g., LW (ENG) for English law, LW (SGP) for Singapore law). Students should sit the variant relevant to their jurisdiction, as the legal principles tested are jurisdiction-specific.
What You'll Learn
- Identify the essential elements of the legal system including sources of law
- Explain and apply the law of obligations including contract and tort
- Explain the law relating to employment relationships
- Describe the formation and constitution of business organisations
- Explain capital and financing requirements for companies
- Describe company management, administration, and insolvency procedures
Career Relevance
Understanding business law is essential for accountants advising on company formation, commercial contracts, employment matters, and corporate governance. LW provides the legal knowledge needed for roles in practice, corporate finance, and compliance.
Exam Format
- Duration:2 hours
- Pass Mark:50%
- Format:LW is a 2-hour computer-based exam (CBE) with two sections. Section A: 70 marks — a mixture of 20 one-mark and 25 two-mark objective test questions. Section B: 30 marks — 5 multi-task questions worth 6 marks each, with multiple tasks based on analysis and application of legal scenarios. All questions are compulsory. Total 100 marks; on-demand at ACCA exam centres; 50% pass mark.
Prerequisites
Completion of ACCA Applied Knowledge papers (BT, MA, FA) or equivalent exemptions.
LW-ENG Exam Syllabus
The LW-ENG syllabus covers the key topics you'll be examined on.
- Law and the legal system
- Sources of law
- Formation of contract
- Content of contracts
- Breach of contract and remedies
- The law of torts and professional negligence
- Contract of employment
- Dismissal and redundancy
- Agency law
- Partnerships
- Corporations and legal personality
- The formation and constitution of a company
- Share capital
- Loan capital
- Capital maintenance and dividend law
- Company directors
- Other company officers
- Company meetings and resolutions
- Insolvency and administration
- Fraudulent and criminal behaviour
ACCA LW-ENG Exam Structure
Everything you need to know about the LW-ENG exam format, timing, and what to expect on exam day.
Computer-Based Exam (CBE)
2 hours
LW is a 2-hour computer-based exam (CBE) with two sections. Section A: 70 marks — a mixture of 20 one-mark and 25 two-mark objective test questions. Section B: 30 marks — 5 multi-task questions worth 6 marks each, with multiple tasks based on analysis and application of legal scenarios. All questions are compulsory. Total 100 marks; on-demand at ACCA exam centres; 50% pass mark.
Available on demand at ACCA exam centres
50%
Your Guide To Pass ACCA LW-ENG
Expert tips from our tutors to help you prepare effectively and pass your LW-ENG exam on the first attempt.
Learn Legal Principles
Focus on understanding core legal principles and rules rather than memorising case names. The exam tests application of legal rules to scenarios.
Practice Scenario Questions
LW tests your ability to apply law to practical scenarios. Practice identifying the legal issues in a scenario and applying the relevant rules.
Cover Company Law Thoroughly
Company formation, directors' duties, and capital maintenance are heavily tested areas. Ensure you have a strong understanding of these topics.
Understand Contract Law
Contract formation, terms, and breach are fundamental topics. Be able to identify whether a valid contract exists and advise on remedies for breach.
Know Your Jurisdiction
LW is jurisdiction-specific. Make sure you are studying the correct variant (e.g., English law, Irish law, or your relevant jurisdiction) and understand the specific rules that apply.
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Learnsignal provides structured LW courses with clear explanations of legal concepts, scenario-based practice, and expert tutor support.
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