Ortega, Andrea Cristel

BSMA 3

1. A. A purchase in the hope of an uncertain future profit; the purchase of a thing not yet
inexistence or not yet in the possession of the seller, as, the cast of a net or a crop to
begrown, and the price of which is to depend on the actual gain. On the other hand, if
theprice is fixed and not subject to fluctuation, but is to be paid whether the gain
begreater or less, it is called emptio spei. Mackeld. Rom. Law. ex. A mango fruit that
clarissa bought to be harvested on march.
B. An action in which the purchaser of a good claims a reduction of the price
proportionate to the reduction in value caused by a defect. Under the Sales of Goods
Act 1979 s 48C(1)(a), where there is a minor defect in the product (and hence a breach
of the implied term of satisfactory quality (s 14), then “the buyer can require the seller
to reduce the purchase price of the goods in question to the buyer by an appropriate
amount.” ex. Discount price of hidden defects of washing machine delivered by gaile.
C. Traditio Longa Manu (delivery with long hand): which is effected by the vendor
pointing out to the vendee the thing which is being transferred, and which at the same
time must be in sight. Example: Farmer D is selling a flock of sheep may point out the
sheep to buyer E and make them available for him. The property is too heavy or big to
be physically handed over. d. TraditioBrevi Manu (delivery with short hand): takes place
when a person in possession under a title that is nit of ownership, such when a lessee
purchases the thing leased and continues thereafter to hold it as owner and no longer as
lessee. Example: A is renting B’s house and lot. Later, A bought the house and lot. There
is no need for B to deliver it to A because the thing sold is already in the possession of
the owner at the time of the perfection of the sale. Therefore, the house and lot will
continue to be in possession of A after the sale, no longer as a lessee but this time as the
owner.
D. A trademark is a type of intellectual property consisting of a recognizable sign, design,
or expression which identifies products or services of a particular source from those of
 others, although trademarks used to identify services are usually called service. Ex bee
in jolibee, girl logo of wendys.
E. Insolvency is the state of being unable to pay the money owed, by a person or
company, on time; those in a state of insolvency are said to be insolvent. There are two
forms: cash-flow insolvency and balance-sheet insolvency. , a person may own a large
house and a valuable car, but not have enough liquid assets to pay a debt when it falls
due.

2. Negotiable Instrument, it should be in writing, signed by the drawer or maker, contains an

unconditional promise or order to pay a certain sum of money and last it must be payable on
demand or at a fixed future time.
PROMISSORY NOTE (EXAMPLE)
I andrea Ortega Promised to pay P50,000 to Mr. Cheng payable in 10 months with monthly
interest of 2%. Payable on every first week of the month.

Signature of borrower

3. Organizational Security Measures

•Must have a record of Processing Activities that describes the data processing system
& the responsibilities of the individuals with access to personal data
•Proper management of Human Resources
Physical Security Measures
•Policies to limit access to work station, stock rooms, or facility
•Design of office space and furniture to provide privacy
Technical Security Measures
•Policy regarding processing of personal data
•Safeguards against unlawful usage or interference with computer network
4. Money Laundering refers to converting illegal earned money into legitimate money. The
government does not get any tax on the money because there is no accounting of the black
money.So Money Laundering is a way to hide the illegally acquired money. Placement: The first
step in this process is the investment of black money in the market. The launderer deposits the
illegal money through different agents and banks in the form of cash by having a formal or
informal agreement. Layering: In this process, the launderer hides his real income by making
foul play. The launderer deposits funds to investment instruments such as bonds, stocks, and
traveler's checks or in their bank accounts abroad. This account is often opened in banks of
those countries which do not reveals the details of their account holders. So in this process the
ownership and source of money is disguised. Integration: The final stage at which the
‘laundered’ property is re-introduced into the legitimate economy OR Returning the money
back into the financial world as legal money.

5. Electronic commerce or e-commerce (sometimes written as eCommerce) is a business model

that lets firms and individuals buy and sell things over the internet. E-commerce operates in all
four of the following major market segments: Business to business.On 14 June 2000, President
Joseph E. Estrada signed into law R.A. 8792 "An Act Providing For The Recognition And Use of
Electronic Commercial And Non-Commercial Transactions, Penalties For Unlawful Use Thereof,
And Other Purposes, also known as the "Electronic Commerce Act." In its Declaration of Policy
(Section 2), it is declared that "The State recognizes the vital role of information and
communications technology (ICI) in nation building. "Electronic document" refers to
information or the representation of information, data, figures, symbols or other modes of
written expression, described or however represented, by which a right is established or an
obligation extinguished, or by which a fact may be proved and affirmed, which is received,
recorded, transmitted, stored, processed, retrieved or produced electronically.

6. Example, Last week, I went to the Register of Deeds to finally transfer the title of the
property in my name, but the clerk informed me that I cannot do that because the title of the
seller was already cancelled. It turned out that the seller also sold the property to his brother
after the property was sold to me, and the brother was able to transfer the title in his name.
there is a double sale, meaning the same seller sold a property to two or more buyers with
different interests. The law applicable to such a case is Article 1544 of the Civil Code which
states that if the same immovable was sold to different vendees, “the ownership shall belong to
the person acquiring it who in good faith first recorded it in the Registry of Property.

7. I have learned to be a responsible student and apply the laws that I have learned in this
course that I will use in my future career.