I. Letters of
Credit
A. Definition/concept
B. Governing laws
C. Nature of letter of credit
D. Parties to a letter of credit
1. Rights and
obligations of parties
E. Basic principles of letter of credit
1. Doctrine of
independence
2. Fraud
exception principle
3. Doctrine of
strict compliance
Cases:
1. Metropolitan Waterworks and
Sewerage System v. Hon. Reynaldo B. Daway and Maynilad Water Services, Inc.,
G.R. No. 160732, June 21, 2004
2. Mico Metals Corp. v. Court of
Appeals and Philippine Bank of Communications, G.R. No. 117914, Feb. 1, 2002
3. Transfield Philippines, Inc. v.
Luzon Hydro Corporation, Australia and New Zealand Banking Group Limited and
Security Bank Corporation, G.R. NO. 146717, Nov. 22, 2004
II. Warehouse
Receipts Law (Act No. 2137)
A.
Nature and functions of a warehouse receipt
· Definition
and nature of Warehouse Receipts
· Purpose
of the Law
· Who
may issue Warehouse Receipts
· Form
and content of Warehouse Receipts
· Effect
of omission of any of the essential terms
· Terms
that cannot be included
1. To whom
delivered
2. Kinds
3. Distinctions between a negotiable instrument
and a negotiable warehouse receipt
4. Rights of a holder of a negotiable
warehouse receipt as against a transferee of a nonnegotiable warehouse receipt
B.
Duties of a warehouseman
· Who
is a warehouseman
· Principal
obligations of a warehouseman
· Lawful
excuses to deliver goods
· In
case of misdelivery
· Altered
receipts
· Liability
of warehouseman
C.
Warehouseman’s lien
·
Extent
·
Loss and waiver of
lien
·
Enforcement
Other topics:
D. Negotiation and transfer of receipts
E. Criminal offenses
III. Trust
Receipts Law (Pres. Decree No. 115)
Purpose
of the Law
Trust
Receipts, Definition
Trust
Receipt Transaction, Definition
Parties
to a Trust Receipt
Importance
of Trust Receipts
Difference
of Trust Receipts and Letters Of Credit
A.
Definition/concept of a trust receipt transaction
1.
Loan/security feature
2. Ownership of the goods, documents and
instruments under a trust receipt
B.
Rights of the entruster
1. Validity of the security interest as
against the creditors of the entrustee/innocent purchasers for value
C.
Obligations and liability of the entrustee
1. Payment/delivery of proceeds of sale or
disposition of goods, documents or instruments
2. Return of
goods, documents or instruments in case of sale
3. Liability
for loss of goods, documents or instruments
4. Penal
sanction if offender is a corporation
D.
Remedies available
Cases:
1. Development Bank
of the Philippines v. Prudential Bank, G.R. No. 143772, Nov. 22, 2005
2. Landl &
Company (Phil.) Inc., et al v. Metropolitan Bank, G.R. No. 159622, July 30,
2004
3. Anthony L. Ng v. People of the Philippines, G.R.
NO. 173905, April 23, 2010
IV. The Chattel Mortgage Law (Act
1508 in rel. to Arts. 1484, 1485, 2140 and 2141 of the Civil Code)
Preliminaries:
Definition of
Chattel Mortgage
Characteristics
Distinguished
for Pledge
A.
Essential requisites
B.
Formal requisites
C.
Registration, when and where
E.
After-acquired property
F.
After-incurred obligation
G.
Right of junior mortgagee
H.
Foreclosure procedure
I.
Redemption
J.
Claim for deficiency
1. General
rule
2. Exception
3. Article
1484
Cases:
1. Union
Bank v. Juniat, et al., G.R. No. 171569, August 1, 2011
2. Acme
Shoe Rubber & Plastic Corp and Chua Pac v. Hon. Court of Appeals, Producers
Bank of the Philippines and Regional Sheriff of Caloocan City, G.R. No. 103576,
August 22, 1996
3. Servicewide
Specialists, Inc. v. Court of Appeals, Hilda Tee, and Alberto Villarica, G.R.
No. 11408, November 19, 1999
V. Real Estate Mortgage Law (Act 3135, as amended by R.A. 4118)
Preliminaries:
Arts.
2124-2131 Civil Code
Definition of
Real Estate Mortgage
Characteristics
of REM
Essential
Requisites
Registration
Requirement
A.
Coverage
B.
Remedies available to mortgagee upon default of the mortgagor
C.
Need for special power of attorney
D.
Authority to foreclose extrajudicially
E.
Procedure
1) Where to
file
2) Where to
sell
3) Posting
requirement
4) Publication
requirement
a. Sufficiency
of newspaper publication
b. Need for
republication in case of postponement
c. Personal notice to the mortgagor when and
when not needed
F.
Possession by purchaser of foreclosed property
G.
Remedy of debtor if foreclosure is not proper
H. Redemption
a. Who may
redeem
b. Amount of
redemption price
c. Period for
redemption
d. Effect of
pendency of action for annulment of sale
I.
Writ of possession
a. Ministerial
duty of the court
b. Enforcement
against third parties
c. Pendency of
action for annulment of sale
J.
Annulment of sale
Cases:
1. Fortune
Motors Phils. v. Metropolitan Bank and Trust Company, G.R. No. 115068, November
28, 1996
2. GC
Dalton Industries Inc. v. Equitable PCI Bank, G.R. No. 171169, August 24, 2009
3. Development
Bank of the Philippines v. Environmental Aquatics Inc., G.R. No. 174329,
October 20, 2010
4. Sps.
Victor and Grace Ong v. Court of Appeals, G.R. No. 121494, June 8, 2000
5. Sps.
Basilio and Norma Hilaga v. Rural Bank of Isulan, G.R. No. 179781, April 7,
2010
VI. Truth in Lending Act (R.A. 3765)
Preliminaries:
Rep.
Act No. 3765
Central
Bank Circular No. 158 (Oct. 29, 1963)
A.
Purpose
B.
Obligation of creditors to person to whom credit is extended
C.
Covered and excluded transactions
D.
Consequences of non-compliance with obligation
Cases:
1. Development
Bank of the Philippines v. Felipe Arcilla, G.R. No. 161397, 161426, June 30,
2005
2. United
Coconut Planters Bank v. Sps. Beluso, G.R. No. 159912, August 17, 2007
VII. Anti-money Laundering Law (R.A. 9160, as amended by R.A.
9194)
A.
Policy of the law
B.
Covered institutions
C.
Obligations of covered institutions
D.
Covered transactions
E.
Suspicious transactions
F.
When is money laundering committed
G.
Unlawful activities or predicate crimes
H.
Anti-money laundering council
I.
Functions
J.
Freezing of monetary instrument or property
K.
Authority to inquire into bank deposits
Cases:
1. Republic
of the Philippines v. Hon. Antonio Eugenio, Jr., G.R. No. 174629, February 14,
2008
2. Republic
of the Philippines v. Glasgow Credit and Collection Services Inc., G.R. No.
170281, January 18, 2008
VIII. Foreign Investments Act (R.A. 7042)
A.
Policy of the law
B.
Definition of terms
a) Foreign
investment
b) “Doing
business” in the Philippines
c) Export
enterprise
d) Domestic
market enterprise
C.
Registration of investments of non-Philippine nationals
D.
Foreign investments in export enterprises
E.
Foreign investments in domestic market enterprises
F.
Foreign investment negative list
Cases:
1.
Alfred Hahn v. Court of Appeals, G.R. No. 113704, January 22, 1997
2.
Cargrill Inc. v. Intra Strata Assurance Corp., G.R. No. 168266,
March 15, 2010
3.
Agiagilent Technologies Singapore v. Integrated Silicon
Technology, G.R. No. 154618, April 14, 2004
IX. Securities Regulations Code (R.A. 8799)
A.
State policy (purpose)
Case:
1. Abacus Securities Corp. v. Ruben U. Ampil, G.R.
NO. 160016, February 27, 2006
B.
Powers and functions of the SEC
1. Regulatory
2. Adjudicative
Case:
1. CEMCO Holdings, Inc.
v. National Life Insurance Company of
the Philippines, Inc.,
G.R. No. 171815, August 7, 2005
C.
Securities required to be registered
1. Exempt securities
2. Exempt transactions
Case:
1. Securities and Exchange Commission v. Prosperity.com,
G.R. No. 164197, January 25, 2012
2. Power Homes Unlimited Corp. v. Securities and
Exchange Commission, G.R. No. 164182, February 26, 2008
D.
Procedure for registration of securities
E.
Prohibitions on fraud, manipulation and insider trading
1. Manipulation of
security prices
2. Short sales
3. Fraudulent
transactions
4. Insider trading
F.
Protection of investors
1.
Tender offer rule
2. Rules on proxy
solicitation
3. Disclosure rule
G.
Civil liability
X. Electronic Commerce Act (R.A. 8792)
A.
State policy
B.
Coverage
1.
Electronic Data Message
2.
Electronic Signature
3.
Electronic Document
4.
Electronic Key
C.
Legal Recognition
D.
Admissibility and Evidential Weight
E.
Electronic Contracts
1.
Actions Related to Contracts of Carriage of Goods
