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Law 4 Syllabus Sales Credit Transaction
Law 4 Syllabus Sales Credit Transaction
COURSE SYLLABUS
COURSE : Law 4
CREDIT : 3 units
COURSE DESCRIPTION:
The study of the body of rules which deals with the nature and obligations, the
rights and duties arising from the contract of sales and credit transactions.
GENERAL OBJECTIVE:
At the end of the course, the students should have sound knowledge of the legal
provisions, general principles and concepts, and the underlying philosophy governing
the framework on the law on sales and credit transactions.
SPECIFIC OBJECTIVES:
1. To enable the students to understand the legal provisions governing the law
on contract of sales and credit transactions, specifically, pledge and mortgage;
3. To expound the reason for the law to help the students comprehend the legal
provisions by demonstrating practical application in specific cases and provide
examples typical of everyday life, to their business courses as well as to their future
endeavors;
TEXTBOOK:
The Law on Obligations and Contracts, Hector S.de Leon, Latest Edition
METHODOLOGY:
Oral exam and quiz every meeting (5 minutes before the time) and outline
projects. Lectures shall be conducted at a certain period every meeting to emphasize
certain points and explain the provisions.
TOPIC OUTLINE:
SALES
CREDIT TRANSACTIONS
PLEDGE
1. Provisions common to pledge and mortgage
2. Definition, characteristics, cause, kinds, essential requirements
3. Pledge vs Mortgage
4. Obligations of the pledgor and pledgee
5. Extinguishment
6. Effect of sale of the thing pledged
7. Pactum commissorium
REAL MORTGAGE
1. Definition, characteristics
2. Cause
3. Kinds
4. Subject matter
5. Essential requisites
6. Effect and extent of mortgage
7. Foreclosure, kinds
8. Redemption, kinds
CHATTEL MORTGAGE
1. Definition, characteristics
2. Chattel vs pledge, similarities
3. Governing law
4. Subject matter
5. Creation
6. Affidavit of good faith
7. Foreclosure
8. Recovery of deficiency
9. Application of proceeds of sale
10. Right of redemption
LOAN
1. General Provisions
Definition, cause or consideration, kinds
2. Commodatum
Nature
Obligations of the bailee
Obligations of the bailor
3. Simple Loan or mutuum
Definition
Object
Payment: usury, interest
ANTICHRESIS
1. Definition, characteristics
2. Antichresis vs pledge
3. Antichresis vs real mortgage
4. Measure of application of fruits to interest and principal
5. Form
6. Obligations of parties
7. Right of nonpayment
DEPOSIT
1. Deposit in General and its different kinds
2. Definition
3. Purpose
4. Voluntary Deposit
5. Obligations of the depositary
6. Obligations of the depositor
7. Necessary deposit
8. Sequestration or judicial deposit
GUARANTY
1. Effects of guaranty between the guarantor and creditor, the debtor and guarantor,
co-guarantors
2. Extinguishment
COURSE REQUIREMENT:
This will be a group work. The articles must be divided proportionately among the
members of the group. A member who fails to submit his/her part of the group outline
will suffer the consequence of forfeiture of the 5% grade.
The codal provisions shall not be stated in the outline. Only the salient points,
elements, definitions and other important explanations in the book. The outline must
be computerized and printed in long size bond paper. Use whatever font and size the
group prefers. The outline will be helpful during the review of Business Law in
preparation for the CPA Board Exam.
GRADING SYSTEM:
Prepared by: