buSCHOOL OF BUSINESS AND ACCOUNTANCY

HOLY ANGEL UNIVERSITY

Department of Accountancy

COURSE OUTLINE: BUSINESS LAWS AND REGULATIONS (BUSLAWREG) LEAD FACULTY: ATTY. KRIS DYAN CAYABYAB

1st Semester, A.Y. 2020-2021

Holy Angel University VMGOs

Vision: To become a role-model catalyst for countryside development and one of the most influential, best-managed Catholic universities in the Asia-Pacific
region.

Mission: To offer accessible quality education that transforms students into persons of conscience, competence, and compassion.

School of Business and Accountancy VMGOs

Vision: A leading center of knowledge and learning in the Asia-Pacific region in the field of Business and Accountancy Education.

Mission: To provide high quality and accessible business and accountancy education to the young men and women through a wide range of relevant,
educational experience.

Institutional Student Learning Outcomes

1. Communication
2. Valuing and Ethical Reasoning
3. Critical and Creative Thinking
4. Civic and Global Learning
5. Applied and Collaborative Learning
6. Aesthetic Engagement
7. Information and Communication Technology (ICT) Literacy

Program Educational Objectives

Graduates are envisioned to:

1. Be actively engaged in any the four sectors of the Accounting profession—namely Academe, Commerce and Industry, Government, and Public Practice—
and shall continue to embody the University's core values of Christ-centeredness, Integrity, Community, Societal Responsibility, and Excellence in their
practice of profession.
 2. Consistently develop awareness and knowledge of the role of ethics in the accounting profession and in accounting business practices, and shall devotedly
adhere to the Professional Code of Ethics in the practice of the Accountancy profession.
3. Effectively perform both individually and collectively in accomplishing tasks in multi-disciplinary and multi-cultural teams in the national and global settings.
4. Continuously acquire and maintain professional competence through related work experience and continuing professional development (CPD).
5. Commit to adhere to, and advocate for the core values of integrity, professionalism, teamwork, transparency, accountability, and social responsibility not
only within but also beyond the bounds of the profession.
6. Participate in nation-building by rendering valuable community service and outreach through various extension services as contribution to the Filipino
community be it outside the sphere of the profession.

PEO1 PEO2 PEO3 PEO4 PEO5 PEO6

ISLO1. Communication X X X X
ISLO2. Valuing and Ethical reasoning X X X X X
ISLO3. Critical and Creative Thinking X X X X X X
ISLO4. Civic and Global Learning X X X X
ISLO5. Applied and Collaborative Learning X X X X X X
ISLO6. Aesthetic Engagement X X X
ISLO7. ICT Literacy X X X

Program Learning Outcomes

1. Students must be able to communicate relevant financial and non-financial information for decision makers utilizing technology to facilitate and enhance
accounting and financial reporting processes.
2. Students must be able to interpret local, national and global perspectives in analyzing accounting, ethical and business issues.
3. Students must be able to determine the appropriate managerial and business issues critical in analyzing accounting data and other information used.
4. Students must be able to apply analytical and research tools in relation to the accounting trends and practices towards a changing business environment.

PROGRAM EDUCATIONAL OBJECTIVES PEO1 PEO2 PEO3 PEO4 PEO5 PEO6

PROGRAM LEARNING OUTCOMES

PLO1. Students must be able to communicate relevant financial and non-financial information for decision
makers utilizing technology to facilitate and enhance accounting and financial reporting processes X X X X X
PLO2
Students must be able to interpret local, national and global perspectives in analyzing accounting, ethical and
business issues. X X X X X X
PLO3
Students must be able to determine the appropriate managerial and business issues critical to analyzing
accounting data and other information used X X X
PLO4
Students must be able to apply analytical and research tools to monitor evolving accounting standards and
practices and to maintain professional skills and ethics in a changing business environment. X X X X X X

Course Learning Outcomes

At the end of the course, the students must be able to:
1. Demonstrate knowledge and understanding of the Law on Sales, Agency and Credit Transactions
2. Identify and explain the rights and obligations of the parties to the above contract
3. Explain and analyze how these contracts relate to business transactions
4. Demonstrate competence in the preparation of the above contracts

PROGRAM LEARNING OUTCOMES PLO1 PLO2 PLO3 PLO4

COURSE LEARNING OUTCOMES

CLO1. Demonstrate knowledge and understanding of the Law on Sales, Agency and Credit Transactions X X
CLO2. Identify and explain the rights and obligations of the parties to the above contract X
CLO3. Explain and analyze how these contracts relate to business transactions X
CLO4. Demonstrate competence in the preparation of the above contracts X X X

Course Description
This course deals with the law on sales covering contracts for the sale of goods including nature, forms, and requisites,
distinguished from dacion en pago, cession in payment, contract for a piece of work, and barter; earnest money as
distinguished from option money; rights/obligations of vendee and vendor; remedies of unpaid seller; warranties; sale with a
right to repurchase or conventional redemption and legal redemption; sale on credit; and installment sales (personal property
– Recto law, real property – Maceda law). It also covers the law on agency; its nature, form, and kinds; obligations of the
agent and of the principal; and modes of extinguishments. It focuses on the legal formalities and requisites of a valid contract
of sale, agency and Real Estate Mortgage and Chattel Mortgage and the obligations, liabilities and warranties of the parties in
a contract, including the concept of Recto Law and Maceda Law. At the end of the course the students are expected have a
better understanding on the contract of sales, agency and mortgage its concepts and requisites and pertinent provisions of
the law on credit transactions such as loan, deposit, guarantee, pledge, real mortgage, antichresis, and chattel mortgage,
relevant laws on commerce and trade such Omnibus Investment Code, Foreign Investments Act, and Retail Trade
Liberalization Law.

At the end of the course, the students are expected to demonstrate knowledge and understanding in the following areas –
Law on Sales, Agency, Pledge, Real Estate Mortgage and Chattel Mortgage and imbibe the values of honesty and integrity in
applying the aforementioned laws.

Number of Units 3 units

Prerequisite Subjects XOBLICONLAW

Required Textbook/Materials Hector S. De Leon & Hector M. De Leon Jr., The Law on Sales, Agency Pledge and Mortgages, Latest Edition
(Rex Book Store)

Requirements Class Standing (60%)

Quizzes
Practical Assignments and Classroom Activities
Class Participation through Recitation and Case Analysis

Major Examination (40%)

Midterm Examination
Final Examination

V. Learning Outline

Evaluation of
Time Frame Institutional Course HAU Core Values Teaching
Assessment Learning
Learning Learning Course Content Learning
Tasks Generated/
Week Hours Outcome Outcomes Core Values Sub Values Activities
Outcomes
BUSLAWREG COURSE Attendance 95% of the
OUTCOMES Christ Indicators: students
Centeredness Obedience and enrolled in the
Relevance of the course prayerfulness course must be
in achieving the program present
learning outcomes
Indicators:
CLASSROOM Societal Commitment and  Media-
POLICIES Responsibility Involvement supported
Week  Attendance lectures or
1 1 hour ISLOs 1 and 2 CLO 1  Assignment PowerPoint
 Quizzes and Presentations
major
examinations
 Subject final
requirement
 Grading System
 Academic
Dishonesty

Week 5 ISLOs 1, 2, 3, CLOs 1 LAW ON SALES Christ Indicators:  Media- Oral In order to pass,
1-2 hours and 5 centeredness obedience supported examination students must
 NATURE AND FORM lectures or obtain a
 Elements, requisites PowerPoint Written minimum score
and perfection Excellence Presentations examination of 40% for the
 Capacity to buy or Indicators:  Canvas following
sell Competence, modules Online assessments:
 Earnest money as expertise,  Class submissions
distinguished from professionalism discussions  Oral
option money  Pair and small Draft, present examination
Integrity Indicators: group work or submit
Objectivity,  Demonstrations relevant  Written
accountability, by teachers documents examination
transparency, and students pertinent to the
conscientiousness  Brainstorming discussions  Online
submissions
Indicators:
Involvement,  Case
commitment, analysis
Societal servant
responsibility leadership,
catalyst of change

Indicators:
Conflict resolution
and Conflict
Management
Community

Week 6 CLOs 1, 2 Christ Indicators:  Media- Oral In order to pass,

ISLOs 1, 2, 3,
3-4 hours RIGHTS AND centeredness obedience supported examination students must
and 5
OBLIGATIONS lectures or obtain a
 Vendor Excellence PowerPoint Written minimum score
- general Indicators: Presentations examination of 40% for the
provisions Competence,  Canvas following
- delivery of the expertise, modules Online assessments:
thing sold professionalism  Class submissions
- conditions and discussions  Oral
warranties Integrity Indicators:  Pair and small Draft, present examination
 Vendee Objectivity, group work or submit
accountability,  Demonstrations relevant  Written
REMEDIES OF UNPAID transparency, by teachers documents examination
SELLER conscientiousness and students pertinent to the
  Actions for breach of  Brainstorming discussions  Online
contract of sale of Indicators: submissions
goods Involvement,
commitment,  Case
Societal servant analysis
responsibility leadership,
catalyst of change

Indicators:
Conflict resolution
and Conflict
Management
Community

Week 3 ISLOs 1, 2, 3, CLOs 1, 3 EXTINGUISHMENT OF Christ Indicators:  Media- Oral In order to pass,
5 hours and 5 SALE centeredness obedience supported examination students must
 Causes lectures or obtain a
 Conventional Excellence PowerPoint Written minimum score
redemption Indicators: Presentations examination of 40% for the
 Legal redemption Competence,  Canvas following
expertise, modules Online assessments:
professionalism  Class submissions
INSTALLMENT SALES discussions  Oral
 Recto Law for Integrity Indicators:  Pair and small Draft, present examination
personal properties Objectivity, group work or submit
 Maceda Law for real accountability,  Demonstrations relevant  Written
properties transparency, by teachers documents examination
conscientiousness and students pertinent to the
 Brainstorming discussions  Online
Indicators: submissions
Involvement,
commitment,  Case
Societal servant analysis
responsibility leadership,
catalyst of change

Indicators:
Conflict resolution
and Conflict
Management
Community
 NON-EXAM SUMMATIVE ASSESSMENT
CLOs 1, 3 CONTRACT OF Christ Indicators:  Media- Oral In order to pass,
AGENCY centeredness obedience supported examination students must
lectures or obtain a
NATURE, FORM & Excellence PowerPoint Written minimum score
KINDS Indicators: Presentations examination of 40% for the
Competence,  Canvas following
RIGHTS AND expertise, modules Online assessments:
OBLIGATIONS professionalism  Class submissions
 Agent discussions  Oral
 Principal Integrity Indicators:  Pair and small Draft, present examination
Objectivity, group work or submit
MODES OF accountability,  Demonstrations relevant  Written
EXTINGUISHMENT transparency, by teachers documents examination
conscientiousness and students pertinent to the
Week 5 ISLOs 1, 2, 3, CREDIT discussions
 Brainstorming  Online
7-8 hours and 5 TRANSACTIONS Indicators: submissions
Involvement,
BAILMENT commitment,  Case
 Meaning Societal servant analysis
 Parties responsibility leadership,
 Kinds catalyst of change

LOAN Indicators:
 Commodatum Conflict resolution
- Obligations of and Conflict
bailee and balior Management
Community
 Simple loan or
Mutuum

Week 4 ISLOs 1, 2, 3, CLOs 1, 3 DEPOSIT Christ Indicators:  Media- Oral In order to pass,
8-9 hours and 5  Definition and kinds centeredness obedience supported examination students must
 Voluntary Deposit lectures or obtain a
- Obligations of the Excellence PowerPoint Written minimum score
depositary and Indicators: Presentations examination of 40% for the
depositor Competence,  Canvas following
 Necessary Deposit expertise, modules Online assessments:
 Judicial Deposit professionalism  Class submissions
discussions  Oral
 GUARANTY Integrity Indicators:  Pair and small Draft, present examination
 Nature and extent Objectivity, group work or submit
 Effects accountability,  Demonstrations relevant  Written
 Extinguishment transparency, by teachers documents examination
conscientiousness and students pertinent to the
PLEDGE  Brainstorming discussions  Online
 Definition Indicators: submissions
 Subject matter Involvement,
 Rights and commitment,  Case
obligations of Societal servant analysis
pledgee and pledger responsibility leadership,
catalyst of change
 Pactum
Commissorium
Indicators:
 Modes of
Conflict resolution
extinguishment
and Conflict
Management
Community

Week 3 ISLOs 1, 2, 3, CLOs 1, 2, 3 MORTGAGE Christ Indicators:  Media- Oral In order to pass,
10 hours and 5  Nature centeredness obedience supported examination students must
 Kinds lectures or obtain a
 Chattel Mortgage Excellence PowerPoint Written minimum score
 Real Estate Indicators: Presentations examination of 40% for the
Mortgage Competence,  Canvas following
 Foreclosure expertise, modules Online assessments:
professionalism  Class submissions
ANTICHRESIS discussions  Oral
 Definition and form Integrity Indicators:  Pair and small Draft, present examination
Objectivity, group work or submit
accountability,  Demonstrations relevant  Written
transparency, by teachers documents examination
conscientiousness and students pertinent to the
 Brainstorming discussions  Online
Indicators: submissions
Involvement,
commitment,  Case
Societal servant analysis
responsibility leadership,
catalyst of change
 Indicators:
Conflict resolution
and Conflict
Management
Community

2-WEEK SUMMATIVE ASSESSMENT EXAMINATION

CLOs 1, 2 EXECUTIVE ORDER Christ Indicators:  Media- Oral In order to pass,
NO. 226 or OMNIBUS centeredness obedience supported examination students must
INVESTMENT CODE lectures or obtain a
OF 1987, as amended Excellence PowerPoint Written minimum score
 Qualified proponents Indicators: Presentations examination of 40% for the
 Investment areas Competence,  Canvas following
eligible for incentives expertise, modules Online assessments:
 In relation to professionalism  Class submissions
Investment Priorities discussions  Oral
Plan (IPP) Integrity Indicators:  Pair and small Draft, present examination
 Board of Investments Objectivity, group work or submit
 Tax exemptions accountability,  Demonstrations relevant  Written
 Additional transparency, by teachers documents examination
ISLOs 1, 2, 3, deductions conscientiousness and students pertinent to the
Week 3
and 5  Brainstorming discussions  Online
13 hours  Non-fiscal incentives
Indicators: submissions
Involvement,
commitment,  Case
Societal servant analysis
responsibility leadership,
catalyst of change

Indicators:
Conflict resolution
and Conflict
Management
Community

Week ISLOs 1, 2, 3, CLOs 1, 2 REPUBLIC ACT NO. Christ Indicators:  Media- Oral In order to pass,
14-15 6 and 5 7042 or FOREIGN centeredness obedience supported examination students must
hours INVESTMENT ACT, as lectures or obtain a
amended by Excellence PowerPoint Written minimum score
REPUBLIC ACT NO. Indicators: Presentations examination of 40% for the
 8179 Competence,  Canvas following
 License to do expertise, modules Online assessments:
business professionalism  Class submissions
 Philippine agent discussions  Oral
 Percentage of Integrity Indicators:  Pair and small Draft, present examination
foreign equity Objectivity, group work or submit
 Foreign investment accountability,  Demonstrations relevant  Written
restrictions transparency, by teachers documents examination
 Negative List A conscientiousness and students pertinent to the
 Negative List B  Brainstorming discussions  Online
Indicators: submissions
Involvement,
commitment,  Case
Societal servant analysis
responsibility leadership,
catalyst of change

Indicators:
Conflict resolution
and Conflict
Management
Community

Week 3 ISLOs 1, 2, 3, CLOs 1, 4 REPUBLIC ACT NO. Christ Indicators:  Media- Oral In order to pass,
16 hours and 5 8762 or RETAIL TRADE centeredness obedience supported examination students must
LIBERALIZATION ACT lectures or obtain a
 Retail trade Excellence PowerPoint Written minimum score
 Foreign retail Indicators: Presentations examination of 40% for the
 Foreign equity Competence,  Canvas following
requirement expertise, modules Online assessments:
professionalism  Class submissions
discussions  Oral
Integrity Indicators:  Pair and small Draft, present examination
Objectivity, group work or submit
accountability,  Demonstrations relevant  Written
transparency, by teachers documents examination
conscientiousness and students pertinent to the
 Brainstorming discussions  Online
Indicators: submissions
Involvement,
 commitment,  Case
Societal servant analysis
responsibility leadership,
catalyst of change

Indicators:
Conflict resolution
and Conflict
Management
Community

2-WEEK SUMMATIVE ASSESSMENT EXAMINATION

Other Resources/References
Websites: Civil Code of the Philippines
https://www.chanrobles.com/civilcodeofthephilippines.htm

Pointers in Contract of Sale

https://philippinebar.wordpress.com/2012/03/22/pointers-in-contract-of-sale-mercantile-law/

Basics of the Contract of Agency

https://ndvlaw.com/basics-on-the-contract-of-agency/

Omnibus Investment Code of 1987

http://boi.gov.ph/wp-content/uploads/2018/02/EO-226-omnibus-investments-code.pdf

More value for your business

Investment incentives in the Philippines
A primer on investment incentives under Philippine laws, 2015
https://www.pwc.com/ph/en/business-guides/assets/documents/pwc-investment-incentives-in-the-philippines-2015.pdf

Foreign Investment Act of 1991

http://boi.gov.ph/r-a-7042-foreign-investments-act-of-1991/

Frequently asked questions on Foreign Investment in the Philippines

http://www.dptlaw.asia/forms/PRIMERS,%20GUIDES%20&%20FAQs/FAQs%20on%20FOREIGN%20INVESTMENT%20IN
%20THE%20PHILIPPINES.pdf

Retail Trade Liberalization Act of 2000

https://www.lawphil.net/statutes/repacts/ra2000/ra_8762_2000.html
 http://invest.cfo.gov.ph/pdf/part2/retail-trade-liberalization-act.pdf

Sale, in law. Columbia Electronic Encyclopedia, 6th Edition, 2020

http://web.b.ebscohost.com/ehost/detail/detail?vid=4&sid=ebb057af-a874-423c-858c-b896caee9d3e%40pdc-v-
sessmgr02&bdata=JnNpdGU9ZWhvc3QtbGl2ZQ%3d%3d#AN=134492106&db=asn

Cases on the Law of Sales of Goods, Harvard Law Review, June 1925
http://web.b.ebscohost.com/ehost/pdfviewer/pdfviewer?vid=5&sid=ebb057af-a874-423c-858c-b896caee9d3e%40pdc-v-
sessmgr02

The Law of Agency in Comparison: A look at the Civil Law Jurisdictions of the State of Louisiana and the Federal Republic of
Germany, Benedikt M. Luthge, Cardozo Journal of International & Comparative Law, Spring 2013, Vol 21 Issue 3, p697-727
http://web.b.ebscohost.com/ehost/pdfviewer/pdfviewer?vid=5&sid=ebb057af-a874-423c-858c-b896caee9d3e%40pdc-v-
sessmgr02

Ebooks

Expectations from Students

Students are held responsible for meeting the standards of performance established for each course. Their performance and compliance with other course
requirements are the bases for passing or failing in each course, subject to the rules of the University. The students are expected to take all examinations on the
date scheduled, read the assigned topics prior to class, submit and comply with all the requirements of the subject as scheduled, attend each class on time and
participate actively in the discussions.

Furthermore, assignments such as reports, reaction papers and the like shall be submitted on the set deadline as scheduled by the faculty. Extension of
submission is approved for students with valid reasons like death in the family, hospitalization and other unforeseen events. Hence, certificates are needed for
official documentation. Students assigned by the University in extracurricular activities (Choral, Dance Troupe and Athletes) are excused from attending the
class, however, said students are not excused from classroom activities that coincide the said University activities. Special quiz is given to students with valid
reasons like death in the family, hospitalization and other unforeseen events. Hence, certificates are needed for official documentation. Likewise, special major
examination is given to students with the same reasons above. Attendance shall be checked every meeting. Students shall be expected to be punctual in their
classes. And observance of classroom decorum is hereby required as prescribed by student’s handbook.

Academic Integrity
It is the mission of the University to train its students in the highest levels of professionalism and integrity. In support of this, academic integrity is highly valued and
violations are considered serious offenses. Examples of violations of academic integrity include, but are not limited to, the following:

1.Plagiarism – using ideas, data or language of another without specific or proper acknowledgment. Example: Copying text from the Web site without quoting or
properly citing the page URL, using crib sheet during examination. For a clear description of what constitutes plagiarism as well as strategies for avoiding it,
students may refer to the Writing Tutorial Services web site at Indiana University using the following link: http://www.indiana.edu/~wts/pamhlets.shtml. For citation
styles, students may refer to http://www.uwsp.edu/psych/apa4b.htm.
2. Cheating – using or attempting to use unauthorized assistance, materials, or study aids during examination or other academic work. Examples: using a cheat
sheet in a quiz or exam, altering a grade exam and resubmitting it for a better grade.
3. Fabrication – submitting contrived or improperly altered information in any academic requirements. Examples: making up data for a research project, changing
data to bias its interpretation, citing nonexistent articles, contriving sources.
(Reference: Code of Academic Integrity and Charter of the Student Disciplinary System of the University of Pennsylvania at
http://www.vpul.upenn.edu/osl/acadint.html).

Policy on Absences

1. Students should not incur absences of more than 20% of the required total number of class and laboratory periods in a given semester.
1.1. The maximum absences allowed per semester are:
For subjects held 2x a week, a maximum of 7 absences; and
For subjects held 3x a week, a maximum of 10 absences.
2. A student who incurs more than the allowed number of absences in any subject shall be given a mark of “FA” as his final rating for the semester,
regardless of his performance in the class.
3. Attendance is counted from the first official day of regular classes regardless of the date of enrolment.

Grading System (Campus ++):

Prepared by: Reviewed by: Reviewed by:

Atty. Kris Dyan Cayabyab Ednel Datu, CPA, MBA Sandra Brucal, CPA, MBA
Lead Faculty OBE facilitator Chairperson
Department of Accountancy Department of Accountancy

Certified by: Approved by

Dr. Bonifacio Ramos Dr. Lina Ramoneda

Director, University Library Dean
School of Business and Accountancy