Department of Law
Dean:Eiríkur Elís Þorláksson
BA in Law
Learning OutcomesView
Education cycle1
Degree titleBA in Law
Mandatory course on majorTeaching language
Optional course on majorPrerequisites for course
More infoResearch – theoretical writing – legal argumentationCoreL-000-UNDBECTS 0
More infoMethodologyCoreL-101-ADF1ECTS 8
More infoConstitutional LawCoreL-102-STSRECTS 8
More infoPrivate Law I - Contracts and introduction to torts and general laws of obligationCoreL-105-FJM1ECTS 8
More infoReading groupElectiveL-106-LESHECTS 0
More infoSeeking solutions to legal problemsCoreL-106-ÚRÁLECTS 6
More infoIndependent StudyElectiveL-739-SJVEECTS 2
More infoExchange StudiesElectiveX-699-EXCHECTS 30
More infoReading groupElectiveL-106-LESHECTS 0
More infoCompany LawCoreL-202-FELAECTS 8
1. yearPrint
SemesterSpring 2021
Level of course1. First cycle, introductory
Type of courseCore
PrerequisitesNo prerequisites.
ScheduleFive lectures a week.
Garðar Víðir Gunnarsson
This is a basic course in company law. The course will begin with a discussion of the problems and legal sources of company law and the nature of cooperation under the corporate form, and will provide a comparison of that form with other forms of organisation and legal structures. An overview and a comparison of the features of the principal corporate forms under Icelandic law will be provided. The course places particular emphasis on public and private limited companies, as these are the most common corporate forms in Iceland. In this context, the typical company law problems that may arise in connection with the operation of a company will be addressed from both a theoretical and practical perspective, including issues relating to: (i) the features of the so-called limited liability of shareholders, including the inherent advantages and disadvantages, as well as the powers of the courts to lift the corporate veil; (ii) the founding of a company; (iii) the shares and share capital of a company, including the payment of share capital, own shares, dividend payments and loans and guarantees provided by a company in connection with the acquisition of shares; (iv) the management structure of limited companies, including the status of the board, managing director and shareholders, individually and in relation to each other; (v) the status (protection) of the creditors of a company; (vi) the financing of companies; (vii) groups of companies and related issues, including creditor protection; (viii) the merger, demerger and dissolution of companies; and (ix) the legal remedies available to parties who believe that their rights have been violated in connection with the operation of a company.
Learning outcome - Objectives
The goal is for students to acquire basic knowledge of the rules of Icelandic law governing the principal corporate forms and non-profit institutions, with particular emphasis on public and private limited companies. Students should also have acquired skills in addressing company law problems, both practical and theoretical.
Course assessment
Practical assignments, 30%, mid-term examination, 20% and a written final examination, 50%. Submission of assignments is required for taking the final examination.
Reading material
No reading material found.
Teaching and learning activities
Lectures, discussions and practical assignments.
Language of instructionIcelandic
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More infoAdministrative LawCoreL-401-STJRECTS 8
More infoMethodologyElectiveL-700-ADFEECTS 0
More infoEntrepreneurship and Starting New VenturesCoreX-204-STOFECTS 6
Haustönn/Fall 2021
More infoCivil ProcedureCoreL-302-EMRFECTS 8
More infoPrivate Law III - TortsCoreL-305-FJA3ECTS 8
More infoEuropean LawCoreL-403-EVROECTS 8
More infoFamily and Inheritance LawCoreL-505-FJERECTS 6
Vorönn/Spring 2021
More infoCompetition LawCoreL-303-SAKEECTS 8
More infoCriminal LawCoreL-402-REFSECTS 8
More infoPrivate Law IV - PropertyCoreL-406-FJA4ECTS 8
More infoPrivate Law V - Project Based CourseCoreL-407-FJA5ECTS 6
Haustönn/Fall 2021
More infoIntellectual Property LawCoreL-304-HOFUECTS 6
More infoSecurities RegulationsCoreL-501-VERBECTS 8
More infoSecurities RegulationsCoreL-501-VIFJECTS 8
More infoTax LawCoreL-502-SKATECTS 8
More infoPublic International LawCoreL-503-THJRECTS 8
Vorönn/Spring 2021
More infoCriminal ProcedureCoreL-605-SAREECTS 7,5
More infoMethodology II-Legal TheoryCoreL-609-ALREECTS 7,5
More infoBA ThesisElectiveL-611-BACRECTS 15