England.  Change location

Business law

Qualification dates
Start End

This module aims to introduce you to business law and the regulatory regime in which companies operate. This includes understanding different types of law, such as employment law and insolvency law, how to apply the law to different cases and the structure and operations of courts. The module will broaden and deepen your knowledge, skills and professional values as you progress through your business management or accounting qualification.

What you will study

The aim of this module is to provide a firm grounding in identifying the essential elements of the legal system, including the main sources of law. You'll learn to recognise and apply the appropriate legal rules relating to businesses and corporations. You'll become able to describe and explain how companies are managed, administered and regulated.

The following topics will be covered in this module.

  • Essential elements of the legal system
  • The law of obligations
  • Employment law
  • The formation and constitution of business organisations
  • Capital and the financing of companies
  • Management, administration, and the regulation of companies
  • Insolvency law
  • Corporate fraud and criminal behaviour

Professional recognition

This module forms part of the BSc (Hons) Accounting and Finance (R52) which has been granted exemptions by the Chartered Institute of Management Accountants (CIMA) towards its CGMA qualification.

Entry requirements

There are no formal pre-requisites for this OU level 2 module.

Preparatory work

If you would like to prepare for this module, you may find that Starting with law, a free course on OpenLearn, is a helpful introductory resource.

What's included

You’ll have access to a module website, which includes:

  • a week-by-week study planner
  • module materials, including datasets to practice your analytical skills
  • audio and video content such as animations and screencasts
  • assignment details and submission section
  • online tutorial access.

Computing requirements

You’ll need broadband internet access and a desktop or laptop computer with an up-to-date version of Windows (10 or 11) or macOS Ventura or higher.

Any additional software, including any required to complete the online invigilated exam, will be provided or is generally freely available.

To join in spoken conversations in tutorials, we recommend a wired headset (headphones/earphones with a built-in microphone). You’ll need a webcam and microphone for the online invigilated exam.

Our module websites comply with web standards, and any modern browser is suitable for most activities.

Our OU Study mobile app will operate on all current, supported versions of Android and iOS. It’s not available on Kindle.

It’s also possible to access some module materials on a mobile phone, tablet device or Chromebook. However, as you may be asked to install additional software or use certain applications, you’ll also require a desktop or laptop, as described above.

Teaching and assessment

Support from your tutor

Throughout your module studies, you’ll get help and support from your assigned module tutor. They’ll help you by:

  • marking your assignments (TMAs) and providing detailed feedback for you to improve
  • guiding you to additional learning resources
  • providing individual guidance, whether that’s for general study skills or specific module content
  • facilitating online discussions between your fellow students, in the dedicated module and tutor group forums.

Module tutors also run online tutorials throughout the module. Where possible, recordings of online tutorials will be made available to students. While these tutorials won’t be compulsory for you to complete the module, you’re strongly encouraged to take part.


The assessment details for this module can be found in the facts box.

This module includes a remote exam you will take at home or another suitable location. The exam will be invigilated online by another person – find out more about online invigilation.

If you have a disability

The OU strives to make all aspects of study accessible to everyone and this Accessibility Statement outlines what studying B251 involves. You should use this information to inform your study preparations and any discussions with us about how we can meet your needs.

Future availability

Business law starts once a year – in October. This page describes the module that will start in October 2024. We expect it to start for the last time in October 2031.

Course work includes:

2 Tutor-marked assignments (TMAs)