Lyceum of the Philippines University

Cavite Campus
College of Business Administration
Effective First Semester AY 2017 - 2018

SYLLAB U S

SUBJECT CODE : REVN02B

SUBJECT TITLE : Business Law and Taxation Review
NO. OF UNITS : Three (3) units
LECTURE/LAB HOURS : Three (3) hours weekly
PRE-REQUISITE : Negotiable Instruments Law and Business and Transfer Taxation

Educational Philosophy
Lyceum of the Philippines University (LPU), an institution of higher learning, inspired by the ideals of Philippine
President Jose P. Laurel is committed to the advancement of his philosophy and values: Veritas et Fortitudo (Truth and
fortitude) and Pro Deo et Patria (for God and Country)

Vision
An internationally accredited university dedicated to innovation and excellence in the service of God and Country.

Mission
Lyceum of the Philippines University, espousing the ideals of Jose P. Laurel, is committed to the following
mission:

1. Advanced and preserve knowledge by undertaking research and disseminating and utilizing the results –
RESEARCH
2. Provide equitable access to learning through relevant, innovative, industry-based and environment-conscious
programs and services in the context of nationalism and internationalism – INSTRUCTION and QUALITY
SERVICE
3. Provide necessary knowledge and skills to meet entrepreneurial development and the managerial requirements of
the industry – INSTRUCTION
4. Establish local and international linkages that will be the source of learning and growth of the members of
academic community – INSTRUCTION and INSTITUTIONAL DEVELOPMENT
5. Support a sustainable community extension program and be a catalyst for social transformation and custodian of
Filipino culture and heritage – COMMUNITY EXTENSION
6. Build a community of God-centered, nationalistic, environment conscious and globally competitive professionals
with wholesome values and attitude – PROFESSIONALISM and VALUES

Core Values
L – Love of God J - Justice
P – Professional Integrity N – Nationalism P - Perseverance
U – Unity L – Leadership

Learning Goals
At the end of the program, the students should be expected to:

Competencies Learning Goals

1. Communication
2. Information Retrieval &
Evaluation
3. Proactive and Spiritual
Values
4. Teamwork and Leadership
Show ability to express their own thoughts, ideas and opinions in both oral and written
form.
Possess ability to process, record, summarizes information and produce reports through
the use of computers.
Develop love for God and Country as embodied in the LPU educational philosophy,
mission and vision.
Develop leadership ability and community spirit by engaging in activities that requires
teamwork.

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5. Creative and Analytical
Thinking
6. Computer Literacy
7. Entrepreneurial
Demonstrate the ability to link data from different sources in order to arrive at the correct
solutions to problems.
Be conversant with IT concepts and acquire sound knowledge in the application of
computer in the protection of data.
Acquire knowledge in business concepts, operations and other entrepreneurial skills.

College Vision
To be recognized as the center of excellence in Accountancy, Business Administration, Custom Administration and
Real Estate Management that developed responsible business leaders and nurtures entrepreneurial attitudes, skills
and competencies.

College Mission
Commitment towards the formation of competent, socially oriented, spiritually integrated and globally competitive
business professionals through
1. Continuous discovery of new knowledge by undertaking relevant researches
2. Innovative teaching strategies
3. Involvement in community outreach and services
4. Development of positive attitudes and ethical values.

College Objectives
Today’s business leaders seek employees who have both the knowledge and experience necessary to make
immediate and significant contribution to the workplace. The academic programs of the College of Business
Administration are designed to meet this demand by
1. inculcating in the students the social, moral, spiritual and ethical values,
2. providing the necessary knowledge and skills to meet entrepreneurial requirements,
3. developing the students to become globally competitive graduates who possess the necessary skills in
communication and leadership and information technology, and
4. training the students to become creative and analytical thinkers.

Program Objectives:
To produce competent professional accountants capable of making positive contributions to the profession.
1. To develop and maintain an attitude of learning to learn to adapt to change.
2. To develop professional accountants with appropriate values, ethics and attitudes
4. Prepare students for the CPA licensure examinations and for a successful long-term professional
accounting career.

Program Outcomes
Upon completion of the program, a BSA graduate is expected to
1. Be equipped with the technical knowhow in accounting, business law, taxation and financial management.
2. Possess with knowledge and skills, values and ethics needed to succeed in a long-term professional career.
3. Pass the CPA licensure examinations

Course Description:
This course is a review of business law and taxation in preparation for the CPA licensure examinations. It covers topics
on obligations and contracts, partnership and corporation law, law on sales and bailments and negotiable instruments law. It
also includes topics on income taxation and business and transfer taxes.

Learning Objectives:
1. Affective
1.1 Develop the students' creativity and analytical skills in solving practical problems on taxation and law cases.
1.2 Inculcate in the minds of the students the positive values of perseverance and optimism despite of the difficulty

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 they will encounter in solving practical accounting problems.
2. Cognitive
2.1 Recall stock knowledge in business law and taxation principles.
2.2 Demonstrate comprehension of tax laws and procedures applicable to specialized problems and cases
3. Psychomotor
3.1 Apply provisions of laws and tax principles and procedures in solving problems involving income taxes and
business taxes.
3.2 Showed understanding of the laws and apply the same in solving cases.

COURSE OUTLINE:
Learning Objectives Subject Matter No. of hours/ Week

Relate the VMO of LPU- Introduction to the Course 1

CAS to the course  Introduction of oneself (1.5 hrs.)
 Review of University and College
Inform the students on the VMO as applied to the course
rules and regulations,  Overview of the course
expectations and course  Discussion of requirements and
requirements. class policies
 Expectations setting
Internalize the mission and
vision of the university

For the students to be • Research principles 1

familiar with the principles • Community Service (1.5 hrs.)
and basic applications of
research.

To introduce to the students

the concepts of community
service.
Recall stock knowledge
concerning the laws on 1.Obligations 2&3
obligations and use these
knowledge in solving cases. a. Sources of obligations and their 6 hrs.
concepts

b. Kinds of obligations in general under

the Civil Code

c. Specific circumstances affecting

obligations in general

d. Duties of the obligor in obligation to

do or not to do

e. Mode of extinguishment of obligation

Full understanding of the
nature, concepts and
provisions of contracts.
2. Contracts 4&5
a. Concepts and classification
b. Elements and stages 3 hrs.
c. Freedom from contract and limitation
d. Persons bound
e. Consent
f. Objects of contracts
g. Considerations of contracts

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 h. Formalities of contracts
i. Interpretation and reformation of
contract
j. Defective contracts
1. Rescissible
2. Voidable
3. Unenforceable
4. Void

PRELIMINARY EXAM 1.5 hrs.

Subtotal hours 13.5 hrs.
3. Contract of Sales
5,6, & 7
a. Nature, forms and requisites
Thorough understanding of
b. Distinguished from
the law on contract of sales 7.5 hrs.
c. Dacion en pago
and use these in solving cases
d. Cession in payment
e. Contract for a piece of work
f. Barter
g Earnest money as distinguished from
option money
h. Rights/obligations of vendor and
vendee
I. Remedies of unpaid seller
j. Warranties (in relation to consumer
laws)
k. Sale with a right to repurchase or
conventional redemption, legal
redemption
l. Sale on credit
m. Installment sales
n. Personal property – Recto Law
o. Real property – Maceda Law
p. PD 957 / Condominium Act

Demonstrate understanding
4. Contract of agency
of the contract of agency,
pledge and mortgage. 8, 9 & 10
a. Nature, forms and kinds of agency
b. Obligations of agents and principals
6 hrs.
c. Guaranty of commission agents
d. Modes of extinguishing an agency

5. Pledge

a. Nature and binding effect on third

persons
b. Obligations/rights of pledgor and
pledge
c. Pactum commissorium
d. Modes of extinguishments

6. Mortgage

a. Real and chattel

MIDTERM EXAM 1.5 hrs.

Subtotal hours 13.5 hrs.

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 13.6
6. Partnership
10, 11
a. Nature and as distinguished from
Recall the provisions of the
corporation
on partnership and 4.5 hrs.
b. Elements and kinds
corporations and use these in
c. Formalities required
solving cases.
d. Rules of management
e. Distribution of profits and losses
f. Sharing of losses and liabilities
g. Modes of dissolution
h. Limited partnership

7. Corporations

a. Nature and classes of corporation

b, Requirements for organization
c. Powers of a corporation
d. Board of Directors/Corporate Officers
e. Classes of stocks
f. Powers, duties, rights and obligations
of stockholders
g. Majority and minority control
h. Corporate reorganization
I. Modes of dissolution and liquidation
j. Foreign corporations
k. License to do business
b. Definition and rights of foreign
corporations
8. Negotiable Instruments Law
Recall and apply in solving 12 & 13
a. Negotiability of instrument
cases the laws on negotiable
b. Functions and kinds of negotiable
instruments 6 hrs.
instruments
c. Construction of ambiguous instrument
d. Parties and their liabilities
e. Consideration
f. Manner and consequence of transfer of
instruments
g. Dishonored instruments and its
effects (including clearing house rules
and
BP 22)
h. Requisites of holder in due course
I. Discharge of negotiable instruments
and the parties secondarily liable.

Apply income tax principles

in dealing with transactions 9. Principles of Taxation and its Remedies 14
related to income taxes
a. Nature, scope, classification, and
3 hrs.
essential characteristics

10 Tax Remedies
a. Remedies of the government (State)
b. Remedies of the taxpayer
c. Administrative remedies)
d. Expanded jurisdiction of the Court of
Tax Appeals (limited to jurisdiction)

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 Prepare income tax returns 11. Income Tax 15
and compute correct income 3 hrs.
a. Individual Taxpayer and tax base
taxes
b. Income Tax on Corporation

12. Gross income

a. Exclusions from gross income

b. Passive income subject to final tax
c.Capital gains tax on sale of real
property classified as capital asset
d. Capital gains tax on sale of shares of
stock

13. Deductions from gross income

14. Withholding taxes

15. Transfer Taxes

16. Estate taxes
Correct computations of 16
taxes
17. Donor’s tax
3 hrs.
18. Value Added Tax

19. Percentage Taxes

20. Tax on persons exempt from value

added tax (annual gross sales or receipts
do not
exceed P550,000.00).

Functions of the BOC; 21. Taxation under the local government

explanation, application and code 17 & 18
evaluation of the nature of 22. Preferential taxation
tariff and customs duties; 23. Tariff and customs code 4 hrs.
basis of assessment of duty; 24. Effective communication to
identification of the stakeholders
documents required for the
importation and exportation
of goods.
FINAL EXAM (2 hrs.)
Subtotal hours 27 hrs.
Total hours 54 hours

Textbook:
No specific textbook. Review materials will be used.

References:
TITLE AUTHOR ED. C. DATE PUB. CALL NUMBER
Civil Code of the Philippines Edgardo L. Paras 17th 2013 Manila, KF 5616.1 P37
annotated Philippines : Rex 2013 v.1
Book Store
The National Internal Revenue Hector S. De Leon 2013 Manila : Rex KPM 2784.31997

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 Code Book Store S231 2013 v.2
Business Law: the ethical, global, Richard A. Mann 2013 Western Cengage
and e-commerce environment Learning
Taxation law compendium Efren Vincent M. Dizon. 2013 Manila : Rex Book KPM 2790 D591
Store, 2013. 2013 v.1
Transfer and business taxation : Susan Ballada, Win 2014 Manila : Domdane F HJ 5815 P5 B35
made easy Ballada Publishers, c2014. 2014

Multimedia References:
www.Google.com
www.chanrobles.com/civilcodeofthephilippinesbook4.htm
www.scribd.com/doc/.../Obligations-and-Contracts
www.shvoong.com/law.../1843285-philippine-law-obligations-contracts/
www.slideshare.net/.../law-on-obligations-and-contracts-boa
openlibrary.org/books/.../The_law_on_obligations_and_contracts

Course Requirements:
1. Creative Academic Performance
1.1 Attendance
1.2 Recitation
1.3 Quizzes
1.4 Seat works, Assignment, Class participation
1.5 Project/Research
2.Major Examinations
2.1 Preliminary Examinations
2.1 Midterm Examinations
2.3 Final Examinations

Computation of Grades:
G1 = 40% PE + 60% CAP1
G2 = 40% ME + 60% CAP2
G3 = 40% FE + 60% CAP3

FG = 33.33% G1 + 33.33%G2 + 33.34%G3

Where: G1 = Prelim Period Grade

G2 = Midterm Period Grade
G3 = Final Period Grade
CAP1 = Prelim Period Creative Academic Performance
CAP2 = Midterm Period Creative Academic Performance
CAP3 = Final Period Creative Academic Performance
PE = Prelim Examination
ME = Midterm Exam
FE = Final Exam
FG = Final Grade

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 Prepared and Updated by: Validated by: Endorsed by: Approved by:

Melita Soriano
Faculty Member

Reynaldo C. San Mateo Dr. Ramon C. Maniago

Melita Soriano Industry Advisory Dean/Associate Dean VPAA/Executive Dean
Chairperson/ Coordinator Board

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