UNIVERSITY OF CALOOCAN CITY

COLLEGE OF BUSINESS AND ACCOUNTANCY

Biglang Awa St., 12 Avenue East, Caloocan City

BACHELOR OF SCIENCE IN ACCOUNTING

INFORMATION SYSTEM
2nd Semester, A.Y. 2023-2024

COURSE SYLLABUS

Course Code: LAW 223

Course Title: Regulatory Framework and Legal Issues in Business
Credit: 3 Units
Schedule: Friday (6:00-9:00 P.M.- 2A) – Rm 13

By: Atty. Kathrine Mae M. Hoggang

Professor

COURSE DESCRIPTION:

The study of regulatory framework and legal issues in business and the provisions
and procedures to be observed in specific commercial laws pertaining to the basic
principles and requisites of special kinds of contracts and their legal consequences
will enable the learners to provide sound advice to their clients in their future
practice of the accounting profession.

This is an in-depth study of the contract of sales, its nature and form as well
as the obligations of the seller and the buyer. This course also includes credit
transactions which involve the study of the different types of loans and
deposit. The contracts of security which includes the contract of pledge, real
estate mortgage and chattel mortgage are part of the course. The Securities
Regulation Code, Code of Corporate Governance and Intellectual Property
Law specifically the Law on Patents, Trademark and Copyrights. PDIC Law,
Secrecy of Bank Deposits and Unclaimed Balances Law, Anti-Money
Laundering Law, Data Privacy Act and E-Commerce Law are likewise
discussed.

Learners are expected to apply the concepts and principles related to the above
commercial laws and inculcate the ethical behavior to be observed in compliance
with the specific commercial laws included in this course.

Course Outline

I. SALES
A. Nature, forms, and requisites
B. Distinguished from dacion en pago, cession in payment, contract for
a piece of work and barter
C. Earnest Money as distinguished from option money
D. Rights/Obligations of vendor and vendee
E. Remedies of Unpaid Seller
F. Warranties (in relation to consumer laws)
G. Sale with right to repurchase or conventional redemption, legal
redemption
H. Sale on Credit
I. Installment Sales
a. Personal property – Recto Law
b. Real Property – Maceda Law
c. PD 957 / Condominium Act

II. LAW ON CREDIT TRANSACTIONS (Contract of Agency, Pledge and

Mortgage)
A. Contract of Agency
 Nature, forms, and kinds of agency
 Obligations of agents and principals
 Guaranty of commission agents
 Modes of extinguishing agency

B. Pledge
 Nature and binding effects of third persons
 Obligations/rights of pledger and pledgee
 Pactum Commissorium
 Modes of Extinguishment

C. Mortgage: Real and Chattel

 Nature
 Requisites
 Rights and obligations of mortgagor and mortgagee
 Requisites to have binding effect on third persons
 Modes of Extinguishment
III. Corporate Governance (Group 1)
 Publicly-listed companies
 Public companies and registered issuers

IV. Securities (Group 1)

 Kinds of Securities
 Procedure for registration of securities
 Prohibition on fraud, manipulation and insider trading
 Protection of shareholder interests

V. Securities Regulation Code (SRC) (Group 1)

 General Financial Reporting Requirements
a. Application and definition of terms
b. Financial reporting framework
c. Responsibility for financial statements
 Qualifications and reports of independent auditors

VI. PDIC LAW (Group 2)

 Insurable Deposits
 Maximum Liability
 Requirements for Claims

VII. Secrecy of Bank Deposits (Group 2)

 Purpose
 Prohibited Acts
 Deposits Covered
 Exceptions
 Garnishment of deposits including foreign deposits

VIII. Truth in Lending Act (Group 2)

 Purpose
 Obligations of creditors to persons to whom credit is extended
 Covered and excluded transactions
 Consequences of non-compliance with obligation

IX. AMLA LAW (Group 3)

 Purpose, policies and Principles
 Definition of Terms
 Unlawful Activities
 Covered persons
 Money laundering, terrorism and financing and asset forfeiture
 Preventive measures and obligations of covered persons
a. Prohibited accounts
b. Customer due diligence
  Beneficial Ownership
 Records Keeping Requirements
 Safe Harbor

X. Intellectual Property Law (Group 3)

 Patents
 Trademark, Service Marks and Trade Names
 Copyright

XI. Data Privacy Act (Group 4)

 Definitions
 Scope and Application
 Data Privacy Principles
 Processing pf Personal Data
 Security Measures for Protection of Personal Data
 Rights of Data Subject
 Data breach notification
 Outsourcing and subcontracting agreements
 Registration and compliance requirements

XII. Electronic Commerce Act (Group 4)

 Principles
 Application
 Definition of Terms
 Legal recognition and communication of electronic data messages
and electronic documents
 Electronic commerce in carriage of goods
 Electronic transactions in government

UCC’s Student Code of Conduct

Conduct and behavior that is prohibited in a face-to-face course is also prohibited in a

virtual classroom. This conduct includes, but is not limited to, the following:
 Drug and Alcohol Use
 Sexual Behavior
 Sexual Harassment
 See the “University Policies”
Policy on Attendance:

Student attendance is mandatory. It includes active participation and timely

submission of the course requirements. Students are responsible to monitor
their attendance and submissions. They are also responsible to consult with the
Lecturer, Program Chairperson, or Dean should their case be of special nature.

EXPECTATION FROM STUDENTS

1. The student is responsible to attend to each class prepared.

2. The student is expected to take all examinations on the date scheduled.
3. The student is expected to read the assigned chapters and solve
exercises/problems prior to class.
4. The student is expected to attend each class and actively participate
actively in the discussions.
5. The student is expected to do the seatwork/exercises that will be assigned
by the instructor inside the classroom.

Academic Honesty:

Academic honesty is enjoined upon all students. Plagiarism, cheating, lying

and other forms of intellectual dishonesty shall not be tolerated. Any
student found guilty of plagiarism or cheating shall receive a FAIL grade in the
course requirement or the course.

POLICY ON ABSENCES:

1. Missed classes: Students who miss class are responsible for content. Any
student who misses a class has the responsibility for obtaining copies of
notes, handouts, assignments, etc. If additional assistance is still
necessary, an appointment should be scheduled with the instructor. Class
time is not used to go over material with students who have missed class.
2. Incurrence of three tardiness is equal to one absence.
3. Incurrence of three consecutive absences is considered unauthorized
dropped.
4. Incurrence of four absences is considered unauthorized dropped.
 GRADING SYSTEM

Midterm Grade (MG) Pre-Final Grade (PFG)

- Midterm Exam 40% - Final Exam 40%

- Class Standing 60% - Class standing 60%

Assignment 10% Assignment 10%

Recitation 10% Recitation 10%
Test/Quiz 20% Test/Quiz 20%
Output/Seatwork 20% Output/Seatwork 20%
100% 100%
Final Grade (FG) = (MG + PFG) /2

Grade Point REMARKS

Equivalent
99-100 1.00 Excellent +
96-98 1.25 Excellent -
93-95 1.50 Very Good +
90-92 1.75 Very Good -
87-89 2.00 Good +
84-86 2.25 Good -
81-83 2.50 Fair +
78-80 2.75 Fair -
75-77 3.00 Passed
72-74 4.00 Conditional
Below 71 5.00 Failed