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Syllabi MercLaw

Syllabi MercLaw

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Published by cmv mendoza
Bar 2011 Coverage: Mercantile Law
Bar 2011 Coverage: Mercantile Law

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Published by: cmv mendoza on Nov 13, 2010
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06/23/2011

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 -1- 
S
YLLABUS FOR
2011
 
B
AR
E
XAMINATIONS
 
M
ERCANTILE
L
AW
 
A.
Letters of Credit
1.
 
Definition/Concept2.
 
Governing laws3.
 
Nature of letter of credit4.
 
Parties to a letter of credita. Rights and obligations of parties5.
 
Basic Principles of letter of credita. Doctrine of independenceb. Fraud exception principlec. Doctrine of strict complianceB.
Warehouse Receipts Law
1. Nature and Functions of a Warehouse Receipta. To whom deliveredb. Kindsc. Distinction between a Negotiable Instrument and a NegotiableWarehouse Receiptd. Rights of a holder of a negotiable warehouse receipt as againsta transferee of a non-negotiable warehouse receipt2. Duties of a Warehouseman3. Warehouseman’s Lien
C.
 
Trust Receipts Law
1. Definition/Concept of a Trust Receipt Transactiona. Loan/security featureb. Ownership of the goods, documents and instruments under atrust receipt2. Rights of the Entrustera. Validity of the security interest as against the creditors of theentrustee/innocent purchasers for value3. Obligations and Liability of the Entrusteea. Payment/Delivery of proceeds of sale or disposition of goods,documents or instruments
 
 b. Return of goods, documents or instruments in case of salec. Liability for loss of goods, documents or instrumentsd. Penal sanction if offender is a corporation4. Remedies availableD.
Negotiable Instruments Law
1. Forms and Interpretationa. Requisites of Negotiabilityb. Kinds of negotiable instrument2. Completion and deliverya. Insertion of dateb. Completion of blanksc. Incomplete and undelivered instrumentsd. Complete but undelivered instruments3. Rules of interpretation4. Signaturea. Signing in trade nameb. Signature of agentc. Indorsement by minor or corporationd. Forgery5. Consideration6. Accomodation party7. Negotiationa. Distinguished from assignmentb. Modes of negotiation8. Rights of the Holdera. Holder in Due Courseb. Defenses against the Holder9. Liabilities of Partiesa.
 
Makerb.
 
Drawerc.
 
Acceptord.
 
Indorsere.
 
Warranties10. Presentment for Paymenta. Necessity of presentment for paymentb. Parties to whom presentment for payment should be made
 
 c. Dispensation with presentment for paymentd. Dishonor by non-payment11. Notice of Dishonora. Parties to be notifiedb. Parties who may give notice of dishonorc. Effect of noticed. Form of noticee. Waiverf. Dispensation with noticeg. Effect of failure to give notice12. Discharge of Negotiable Instrumenta. Discharge of negotiable instrumentb. Discharge of parties secondarily liablec. Right of party who discharged instrumentd. Renunciation by holder13. Material alterationa. Conceptb. Effect of material alteration14. Acceptancea. Definitionb. Mannerc. Time for acceptanced. Rules governing acceptance15. Presentment for Acceptancea. Time/place/manner of presentmentb. Effect of failure to make presentmentc. Dishonor by non-acceptance16. Promissory Notes17. Checksa. Definitionb. Kindsc.
 
Presentment for payment(1) time(2) effect of delayE.
Insurance Code
1. Concept of Insurance2. Elements of an Insurance Contract

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