ee BIN BU ATENEO DE MANILA Fourth Year-B December 11, 2008 FIRST QUIZ IN COMMERCIAL LAW REVIEW 4. Abad signed the following document Rage TGL a cs a rent ot ve s30 ot | promise to pay Benitez y use to me and 5,000,000 as 2 real gstate marigage on the house and if gublect Ja the: pro /atiiage/ | undertane nsure the house agaret oes by We whee Wie Pomssory PO REETOT been paid. Presentment for payment is waived gd. Abad” ‘The lawyer of Abad ciaims this is not neaotiable because: (a) the promise is conditional; (b) the mount payable is uncertain; (c) itis nos Payable To order or bearer; (d) there is ah undertaking to do something other than the payment of mghey: (8} presentment for payment was waived, Rule on each of his arguments. ay Le hekhige? pair? 2, Abad loaned P10,000 to Bentez “Benitez issued a Jo Abad as payment for ie loan. Abad told Beaitéz fo make the check payable to the, asier to give the money. (A check. The check & his Waughter, 3 Reagesues ayable to nGrigdbt Beniter. Benitez indorsed it to Cruz in Dionk. Didresols the chisketorged the indorsement-eP"Cruz to him, and negatated Ne check by delivery to Estrera, a holder in dve cours shonored Yor lack of tunes, sera gave Notice of dishonor to everybody ang sua, fBl YC, 4 Auad ieued a nogotboie ude ecioe Getter to pay or @ ihe was buying, tuned ‘ponies nicreed tne promos tating ts out matte feof Dente ie bt was spurte out at th tee aS Cr spy frshtes of stk tought om Give The net ay a oa at asad wan Spunus, Abed tesed (py CWE Gee Eeredeu eae na camel Dessert aera! ‘Abad issued a check payable to Benitez to pay fora loan. As Benitez was leaving for abroad Immediately and he wanted to give the proceeds of the check to Cadiz, his fancée, he altered the name of payee 10 the name of Cadiz, because he knew the bank would not honor the check if there was a Second indorsement. The Bank paid Cadiz. Wien it found out that the name of the payee was altered, it sued Cadiz to recover the. money. Cadiz argued that as acceptor the bank could not recover the money. Decide. e -@-¢ gATENEO DE MANILA Fourth Year-8 January 6, 2011 COND, :OMMERCIAL LAW REVI 41. Abad issued a bill of exchange payable to the order of Benitez and drawn against Cruz Enterprises, Inc. Cruz Enterprises, Inc. was : . Benitez changed the name of the drawee to Dizon Trading, Inc. When acceptance of the bill of exchange was refused, Benitez gave Abad notice of dishonor and Ggmanded payment. Abad argued that he was discharged because of the alteration. Ishe right? ¥fo! 9 arabe Ab pleety He cme mene 2. Abad issued to Benitez a postdated check dated January 26 209 Benitez presented it for payment. ‘The bank dishonored it for lack of funds. Benitez gave Abad jor and sued him. Will the action prosper? yw, kb, ret yet dansral 3. Abad Motors, Inc. bought cars from Best Car Manufacturing, Inc. It got a foan from Genter Financing, Inc. to pay farthe-cars. Center Financing, inc. required the president of Abad Motos, Inc. to sign trust receipts far the cars. Abad Motors, Inc. issued a check payable to Center Financing, Inc. to pay for one of the cars sold The collector of Center Financing, Inc, forgedthe indarsement of the president of Center Financing, inc. and succeeded in encashing the check. Center Financing, Inc. filed a criminal ase against the president of Abad Motos, nc, because it had nol been paid. Wil the action prosper? 4. Aletier of credit issued to pay for a shipment of steel plates required the submission of asuaieyor's, ‘castificate stating that it examined the steel plates and they were in accordance with the contract. The certificate submitted by the seller indicated that the stee! plates were delivered. The bank which opened the letter of credit refysed to pay. Is itright? ma 6. Abad stoced rice with Benitez Warehousing, inc. and was issued 2 watehause teceipt. A week later ‘Abad stored sugar with Benitez Warehousing, Inc. and was issued a warehouse receipt. When Abad ‘asked for the delivery of the rice, Benitez Warehousing, Inc. refused on the ground that the storage fees. for the sugar had not been paid Ist right? apes February 24, 2011 THIRD QUIZ IN COMMERCIAL LAW REVIEW ‘Aguilar established a factory to manufacture motorcycles. He was selling them for twenty thousand pesos under the trademark Hundai. Hundai Motors, Inc, which manufactured cars, sued him, for infringement ofits registered trademark Hundai, Will the action prosper? 6s. Dem@enmepstnt. ConPaSicn of by“ yi ‘Aguilar organized the Rural Bank of San Andres. He copied the forms of | the aac lich the lawyer of the Rural Bank of San Carlos prepared. The lawyer sued him for infringement of copyright. Will the action prosper? 7 Aguilar collected antique statues of saints which he kept on display in a cabinet. He obtained a loan from a bank and executed a chattel mortgage on the antique statues of saints as security for the payment of the loan. As ‘Aguilar defaulted in paying the loan, the bank foreclosed the mortgage in accordance with the Chattel Mortgage ‘Law. Aguilar sued to annul the foreclosure sale on the ground that the sale should have been held in accordance with Act No. 3135, as the statues constituted real property. Is he right? obtained (om a bank. Aguilar filed a case toGnnuDthe foreclosure sale on thg-pround that he was not given yr W: A personal notice ofthe foreclosire sale. The court aetna nso spe fc Snack Nie aetna Fae 2 ait of preliminary injygction Aguilar offere&g redeemyieprofery mortgaged, The bank argued dha Ui redemption prod hare sgh? 4 Aguilar made Gounterfeit softwassDof computer games which he then sold 10 video stores. He deposited the proceeds from INFSaIETTTS Bank account. Can be be held liable for violating the Anti-Money Laundering Law? wrodee ATENEO DE MANILA ‘ ice dee Fourth Year-8 i March 10, 2011 tne {CIAL LAW REVIEW. uid be controlling stockholder of Aquilar Trading, Inc. Aguilar Trading, Inc. held office at 2 i weadencd of fui, Barge aa Pobgharge i for rent Instead of paying rent to him, Aguilar Frading. &.c e sees pact wre a “The bulk of it went to Aguilar. Only a ten per cet watmoldcg ESAT oad “1 te dates The Basaodl Memal Revenue clamsed NeSeoee ae ‘personality of Aguilar Trading, Inc. should be disregarded. Is it right? at 97 ev employees in Av ia: Enterprises, In. formed a labor union ard went 0 because of t+ of Aguilar Enterprises, Inc. to negotiate @ collective Bargaining agree it. The board of Hee cpbrove, tne semial of nc ethoar af the bor ban The tees ote abor une se a ae ‘argued thai t's directors should be held personaly liable, Are they right? es> 9 Pauitar Elementary Sea0o!, Inc. has one thousand studenis. Upon approval bythe board of directors. aequied 2,vecant parczi of land measuring ninety hectares on the ground that it wo oginend isics: | Space for furs Shation, Center, @ sbAMhewer acgues tat the purchese watulisetay Tire | ty siwckholder, fled a derivati 1 the sale of parcel of land approved by the ontoena! directo's on the ground that the requirement the Corporation Code were nat complet cap: with. He had = untice of jis pendens ennotated_on the transfer certificate of title. Is the annota‘ic~ Proper? 9° ak fot ‘Aguilar stole tne stock cortfieate of Benitez, a stockholder of Benitez Trading, inc. He Jarged he inderserent 2 _Goutez i Me stock certeate and anid the sbares of stock to Cruz. He then stl bar _siock cailificas anc delivered to C st cate by fogging the signatures of sw pwecdont and the secretary i the Rew sock cortcale id the shares covered by the new sic cenuioat to Zon, : 4 buyer in good faith and for value. ‘The corporate secretary refused to hone Neth Ye SBE 1516 99? Ye rere 4, el feurded “im pet vay Ake DougFourth Year-C February 7, 2013 SECOND QUIZ IN COMMERCIAL LAW REVIEW 1. Abad issued a Ges) payable to Benitez as payment for the gar he was buying. As Abad and Benitez have had numerous Tansactons, Benifez wrote te pase “as paral payment Tor the purchase of my ear” ea:The check was dishonored for lack of funds. Benitez gave Abad notice of dishonor, Abad refused to honor iton the ground of alteration ofthe check, Is height? 2. Abad required Benitez, the contractor of his house, to get a standby letter of credit to answer for amages should he fal to complete the house, The standby leer oF ered proved ato collect Abad \fUsracbmil a certfiation Sing Tat Beri had defaulted. Abad submited a cenifiaion Sag "T™ have deferinined that Benitez has defaulted” The bank whieh issued the letter of credit refused to pay. Is itright? aes aan [eae ama 3. Abad bought e van from a.car dealer. To pay for it, he obtained a loan from a financing company. The financing company required him woRia) ‘a trust receipt for the yan “Abad-donated the van to a charitable organization, As Abad falled to pesctte GEIRE Company fled a eriminal CiseRGSTRT Wi for estat Will the ea5€ prosper? 4, Abad, a warchoustman, issued a warehouse ceeipt for 1,000 sacs of sugar to Benitez, Benitez ised the quantity of the sugar to 4,000 sackS and sold the su, or erie When Cri demanded delivery of the sugar Abt saed tat he ast hable eciusreTeataon she gh 5. Abad mangaged his shares of stock in Benitez Trading, Inc. to Benitez ro Geys}ine payment of gap) fed bongs te aves ot gee ota ee Fe cen Mog et Dege, Beez elo esha ow m Tetiter foreclosed she chatel mastege. Cruz argued that he had a prefered light UMpae sgller. Is he right = comemn ATENEO DE MANILA iateh {2032 ‘THIRD QUIZ IN COMMERCIAL LAW REVIEW ied for aloan from 41. Abad instructed the Occidental Bank to buy for him bonds issued by Ajax Power, Inc. Abad appli i stern 0 te ee BCom Bank asked Ozeuenial Bank f Abad fad ary aS981s 17s SScidertal Bank refused to answer the inquiry Is itright? Fourth Year-c 2. Aletter of credit issued to a bank to pay for the importation of flour required the submission of a commercial invoice issued by James Smith The commercal invoice stated that it was issued by James Smithh. Because of this the ‘bank refused to honor the draft drawn to collect the proceeds of the letter of credit because of the discrepancy. Is it right? 3. Abad mortgaged five parcels af land.to secure the payment of a loan for 500,000 pesos. Since he defaulted in paying the oan, the mortgage was foreclosed extrajudicial. Tho five parcels of land were sold for 500,000 pesos. ‘Abad fie a petton fo annul the sale for gross inadequacy of the price, because the parcels of land had a zonel value of five milion pesos. Decide 4. Abad published an index which listed alphabetically all the decisions in the volumes of Supreme Court Reports ‘Annotated and incicated the volumes and the pages in which they could be found. He was sued by Central Book ‘Supply, Inc. for infringement of copyright, because iis consent was not obtained. Decide. 5. Abad opened a restaurant with the (ademas *Lutong Bahay.” He applied for its registretion. The intellectual Property Office denied his spptcaics be ‘ground that it is merely descriptive. ts it right? aeAteneo de Manila University Fourth Year-C ‘Mareh 11, 2013 FOURTH QUIZ IN COMMERCIAL LAW REVIEW ‘Avad and his four brothers formed a corporation to operate a gasoline station. They formed another corporation to sell spare parts for motor vehicles. Sometimes the corporation operating the gasoline station would pay for debts OFTHE Corporation selling spare parts for motor vehicles and vice-versa. When the corporation selling spare parts failed to pay the seller of the spare parts, the seller sued both corporations on the ground that their separate Juridical personalities should be disregarded. 1s the seller right? 2. Abad Manufacturing, Inc. used some ofits funds to buy money market placements. A stockholder claimed during 4 meeting that the board had no authority to approve the purchase of the money market placements. ts he right? 3. Abad Advertising, Inc. is engaged in the advertising business. Benitez, a candidate for president, commission it to conduct a poll survey for the coming election for president. Cruz, his opponent, claimed that the contract was ultra vires. Is he right? 4, The corporate secretary of Abad Trading, Inc. issued a stock certificate to Benitez, who bought the shares of stock of Cruz. He inadvertently failed to ask for the stock certificate of Cruz. Cruz sold the same shares of stock to Dizon after he showed the stock certificate to Dizon. Dizon asked the corporate secretary to register the shares of stock in his name. Should the corporate sceretary grant his request? 5. Abad Management, Inc. was engaged in managing condominium buildings for condominium corporations because of its failure o regularly inspect an elevator in a condominium corporation and provide for preventive maintenance, a unit owner fell down on elevator shaft was killed. The family included the officers of Abad Managements, Ine. in the suit for damages. Is the inclusion proper?‘Ateneo de Manila University Fourth Year-C February 20, 2013, ‘THIRD QUIZ IN COMMERCIAL LAW REVIEW 1 Abad drew a design for clocks which showed a wreath of flowers around them. Can he apply for a copyright for in 2 Abad established a small store to sell hamburger sandwiches of different sizes. He called them on the basis of their sizes: Small Mac, Medium Mac, and Giant Mac. He was selling his hamburgers in mini-stores. McDonald's ‘Comporation sued him for inftingement of trademark, Will he action prosper? 3° Abad created a device which will allow a bank depositor to withdraw money from an automated teller machine by simply inserting the bank card without need of indicating any personal identification number. Can he patent it? a 4 Abad, a director of Abad Realty, Inc, learned that the cbinpany was conducting a due diligence audit of Benitez Development, Inc. during a board meeting, He bought $0,000 shares of stock of Benitez Developmnent, Ine. Later on it was publicized that Abad Realy, Ine. was negoiatiag fo acquire Bensez Development, tne. The agi of the Shares of sock of Benitez Development, Ine. rose by 20% The negation collapsed, The pie of Ue hares of stock of Beiiiee Development, ne. dropped by 20%. Cruz, who sold the shares which Abad Bought, sued hen for 35 Abad Enterprises, inc. appointed Businessman's Bank, Inc. as tmstee for the retiemeat benefits of al its offices aad employees. Ninety per cent of the beneficiaries were Filipino employees, and ten officers. Fifty per ctUT Or the Fetrement beneRis WOU sao. Bina embaxees, ad the rest would go to the fereigh officers. The tst department of Businessman's Bank, Inc. invested the reluement fonds by Basing 45 ‘er cent of the’ voting shares of stock of Benitez Shipping, Inc. Is the purchase valid?” ame ** pet cent OT Ue voting share oF Sock of Berita Shipping Inc. J the purThase valid’ATENEO DE MANILA Year-B January 15, 2009 sCOND Qui CIAL 1. Abad issued a bill of exchange to Benitez, There was_no stipulation as to the date of 0 Payment. Benitez wrote on the bill of exchange that it is payable on derma ‘on demand When Benitez Presented the bill of exchange for acceptance, the drawee dishonored it. Benitez gave Abad Notice of dishonor and asked him to pay. Abad argued that h ji because of the alteration made in the bill of exchange without his cor Decide. al 2. Abad issued a check to Benitez for the car he bought from Benitez. Because of a dispute between them as fo Whether or not the car was defective, Abad stopped the payment of the check. Because of the dispute between them, Benitez desisted from presenting the check for payment. Six months later, the drawee bank became insolvent. Abad claimed that he had been discharged from Tiability on the check. Is he right? 3. Abad Warehousing inc. issued to Benitez a non-negotiable warehouse receipt for 1,000 bags of Sugar it sold to Bonion’ Gree stole he rrenesctabe ataiauserocopt He then prepared a deed of assignment Of the sugar in his favor and forged the signature of Benitez. ‘Abad Warehousing, Inc. delivered the sugar to Cortes, Benitez sued Abad Warehousing, Inc. Decide. 4. Abad imported leather travel bags Orient B%nt a letter of credit to pay for the importation. The letter of credit provided that to col iyment, the seller must submit a bill of exchange, together with a commercial invoice and a certification signed by a surveyor stating that he inspected the travel bags and that they were in accordance with the ‘specifications in the deed of sale. The seller submitted with the bill of exchange a certificate by a surveyor stating that on the basis of the 6 inspected, the travel bags were in Aenea once WAR the Specifications in the deed of sale. Orient Bank refused to pay. Is it right? 5 Abad 2 car deals) Purchased cars from Tiger Motors, Inc. To pay for the cars, Abad obtained'a loan from Benitez Financing, Inc. arages tae signed a frust réceipt for the cars. Abad sold ‘one of the cars to Cortes. Cortes refused to pay on the ground that the car had several hidden detects. ‘Ss a result, Abad was not able to pay 3 Benitez Financing, Inc. Benitez Financing, Inc. fled an action to repossess the Gar reDuns at 2005, ws, 8 Yo. ATENEO DE MANILA Fourth Yearc SECOND QUIZ ComMERCIAL LAW REVIEW 1, Abad cued a check to Beles t/poy for materia’ cone pme dala to Re Brn Sma check payment on, Decemoe, 18, 2 WSS gitroneratoir de, Bentien gave Abad Se nntounoc No Sectoid. eo a WADE: Cant ae caine ee toe NG. Abdi ntioc Gorsaedas to on 1 ee ted check ot tho Pasay Chybragh of POE pease discs ~* is of tha, aud” acuaphte taint & aver tech af eo ona: “¢ _— sitio cticacteaten hocawtne “ea. and peceied 143 Abed Sioage, na Abed in. detvered tho oa fo DEMTUS TEM TOTS bat Storage, Ine. for tha val of the tea. \eorer ins Wada oh RANE 4 eeemerTah nose duce iL AS Abad had no money fo Fay Bentz Gogorit Me. be egrcd to exacts GiRSEIBES she copra, Acredior ot Abad ‘Coconut Bf, tne. t Eee aunty WLU WE He ‘ple wah agent all wth i Ea ey vanes ce Trading, tnc, 0s benefictary for tie etcel plates’ ats" a , oo Sag gay of eons pao af vane be 2 ed eas rear, tne cab foleated ts ‘quanilly of the-tteet angles and! the Bank pay? Np oc sedi, thant e- pet ob ML 7D Be * ve intgpicia heh OE alent meas a ce