Pu Cee | Framework and Legal Issues in Business Part | i any tender 4 Property i atent Copyright i Se ea eT on Sales Taal 2 on Bailments a Vee La oy i Simplified Examples Real-life Illustrative Cases Multiple Choice Questions ___ True or False Questions ae) eal ey anescie aS Cee ATTY. ANDRIX D, DOMINGO, CPA, MBA a ie Se ‘ he A "4 we ~EPole Framework and re De ne por ie AE a Property Field Copyri | acid re on Sales on Agency on Bailments ean Simplified Examples Real-life Illustrative Cases Multiple Choice Questions True or False Questions ew eT \ ‘ Bee N@ sic SSC oe - ATTY. ANDRIX D. DOMINGO, CPA, MBA ~~ ee < iPhilippine Copyright, 2019 by. ISBN: 978-621-95242-8-5 No part of this book may be reproduced in any form or any means without the written permission of the author. Any copy of this book without the signature of the author in colored pen on this page either proceeds from an illegitimate source or is in ion of one who has no authority to dispose of the same. ALL RIGHTS RESERVED Published by: COACHING FOR RESULTS PUBLISHING #02 Ampucao, Itogon, Benguet buslaw1234@gmail.comTABLE OF CONTENTS SALES CHAPTER 1 Nature and form of contract Whatis a contract of sale? Stages ofa contract of sale Two kinds ofa contract of sale Essential elements of a contract of sale Gross inadequacy of price, its effect Characteristics of a contract of sale What is option or unaccepted offer? Contract for a piece of work vs. contract of sale Dation en pago vs. contract of sale Determinate Thing Emptio rei speratae vs. Emptio spei Kinds of Goods Contract of Sale vs. Agency to sell Sale vs. Barter Requisites for a valid price Sale by auction is perfected Two aspects of delivery What is contract to sell? What is right of first refusal? Whatis sale by sample? Whatis sale by description? What is earnest money? What is expropriation? True or false questions Multiple choice questions CHAPTER 2 Capacity to buy or sell Kinds of incapacity What are necessaries? Multiple choice questions CHAPTER 3 Effects of the contract when the thing sold has been lost Loss of the object at the time of perfection of the contract Multiple choice questions CHAPTER 4 Obligations of the vendor Obligations of the vendor What is delivery? Kinds of delivery Kinds of legal or constructive delivery Actual delivery vs. Constructive delivery Delivery of incorporeal property Pages WDUANNE RE 12 14 15 16 19 20 26 28 29 31 36 36 38 50 51 53 62 62 63 69 72 72 a 75 iS) 76 79 79 83 84Sale on approval Sale or return vs. Sale on Trial Document of title to goods Two kinds of negotiation Who can negotiate? Warranties on negotiation or assignment Place of delivery Time of delivery Who is an unpaid seller? Remedies of an unpaid seller When right of stoppage in transit available? Right of resale Right to rescind Article 1539 vs. 1542 What is judicial sale? More or less, explained Requisites of double sale Who is a purchaser in good faith? Warranty vs. Condition Express warranty What is implied warranty? What is eviction? Kinds of waiver Remedy in case of partial eviction Hidden defect, meaning Remedies in case of hidden defects Void sale of animals Effect of rescission of sale of animal with redhibitory defect True or false questions Multiple choice questions CHAPTER 5 Obligations of the vendee Acceptance, meaning Types of acceptance Effect of buyer's justifiable refusal to accept delivery Effect of buyer's unjustifiable refusal to accept delivery Vendee owes interest between delivery and payment Suspension of payment by the vendee Seller may immediately sue for the rescission of the sale Rescission of the sale of movable property shall of right take place Multiple choice questions CHAPTER 6 Actions for breach of contract of sale of goods Goods, meaning The seller may maintain an action against the buyer for the price of the goods 85 86 93 95, 96 98 100 101 106 108 109 112 113 116 119 121 122 127 129 134 137 138 141 142 145 152 157 158 160 163 174 174 177 180 180 180 181 183 186 187 189 189 189The seller may maintain an action against the buyer for damages The seller may totally rescind the contract of sale Remedies of the buyer in case of breach of warranty by the seller Effect of rescission on buyer's rights and obligations Multiple choice questions CHAPTER 7 Extinguishment of sale Causes of extinguishment of sale Essence of conventional redemption Equitable mortgage Whatis reformation? Period of redemption Obligation of vendor in case of redemption Legal redemption Requirement of a written notice Multiple choice questions CHAPTER 8 Assignment of credits and other incorporeal rights Assignment of credit Contract of sale vs. Assignment of credit Requirement to produce effect as against third person Warranties of the Assignor of Credit Liabilities for violation of warranties Duration of warranty as to debtor's solvency Multiple choice questions CHAPTER 9 General Provisions Multiple choice questions AGENCY CHAPTER 1 Nature, form and kinds of agency Characteristics of a contract of agency Elements ofa contract of agency Parties to the Contract of Agency Who is an agent? What are the acts which may be delegated to an agent? Purpose of agency Basis of Agency Nature of Agency Sale vs. Agency Sale vs. Lease of Services Kinds of agency as to the manner of its creation Implied Agency vs. Agency by Estoppel What is a power of attorney? Two ways of informing third persons General Agency vs. Special agency Kinds of Agency as to authority or power 190 191 193 194 198 199 199 200 200 201 204 208 210 215 216 220 220 220 221 224 224 225 230 232 234 235 235 235 236 237 237 237 237 238 239 239 242 243 243 244 249 250Sale of a and or any interest therei an agent Ie ofa piece of land or any interest herein through Sale ofa a Effects of acts of the agent True or false questions ; Multiple choice questions CHAPTER 2 Obligations of the agent Rule ifa person declines an agency Substitute or sub-agent 0 rap : ae paca liable for the tort committed by its agent's employees? f Doctrine of procuring cause Commission Agent vs. Broker True or false questions Multiple choice questions CHAPTER 3 Obligations of the principal Estoppel Agency by estoppel Multiple choice questions CHAPTER 4 Modes of extinguishment of agency Kinds of Revocation Agency cannot be revoked Requisite for withdrawal by the agent : Agency is not extinguished even after the death of the principal Multiple choice questions PLEDGE, MORTGAGE AND ANTICHRESIS CHAPTER 1 Provisions common to pledge and mortgage What is a pledge? Whatis areal estate mortgage? Doctrine of "the mortgagee in good faith" Two contractual modes by which personal property can be used to secure a principal obligation Debtor retains beneficial interest in mortgage Is the declaration ofa title as null and void a ground for nullifying the mortgage right ofa mortgagee in good faith? Filing of collection suit barred the foreclosure of the chattel mo: What is pactum commissorium? Elements of pactum commissorium Indivisibility of a pledge or mortgage rtgage CHAPTER 2 Pledge Pledge of incorporeal rights Right of pledgor to ask the thing pledged be deposited Prescriptive Period to demand return of the thing What if the Pledgee is deceived on the quality of the thing pledged? 257 269 275 276 281 282 286 288 299 299 304 305 308 311 311 319 321 321 332 333 334 340 342 342 342 343 345 350 353 354 357 358 362 367 369 376 377 378Purpose of notice 380 Deficiency claim in mortgage vs. pledge 381 Deficiency claim in chattel mortgage vs. pledge 382 Pawn vs. Pawnee vs. Pawner 386 CHAPTER 3 Mortgage 387 What is mortgage? 387 Kinds of real mortgage 387 Object of Mortgage 387 Cause or consideration in mortgage 387 Real mortgage vs. Pledge 388 Effects of Mortgage 388 Extent of mortgage 389 What is foreclosure? 390 When to foreclose? 390 Who can foreclose? 390 Kinds of foreclosure 390 Effect of inadequacy of price in foreclosure sale 391 CHAPTER 4 Antichresis 392 What is a contract of antichresis? 392 Antichresis vs. Real mortgage 392 Rights of antichretic creditor 392 Measure of application of fruits 393 Form of the contract of antichresis 393 Obligations of the antichretic creditor 393 Obligation of the debtor 393 Remedies of the creditor 394 CHAPTER 5 Chattel Mortgage 396 f What is a contract of chattel mortgage? 396 Chattel mortgage vs. real mortgage 397 Chattel mortgage vs. pledge 397 t Foreclosure of chattel mortgage 397 t Right of mortgagee to recover deficiency 398 c True or false questions 399 Multiple choice questions 403 4 INTELLECTUAL PROPERTY CODE OF THE PHILIPPINES PART I THE INTELLECTUAL PROPERTY OFFICE 412 Multiple choice questions 436 PART II THE LAW ON PATENTS 441 Chapter | General Provisions 441 Chapter II Patentability 443 Chapter III Right to a Patent 448Chapter IV Patent Application Chapter V Procedure for Grant of Patent me Chapter VI Cancellation of Patents and Substitution of Patentee Chapter VII Remedies of a Person with a right to a Patent Chapter VIII Rights of Patentees and Infringement of Patents. Chapter IX Voluntary Licensing Chapter X Compulsory Licensing Chapter XI Assignment and Transmission of rights Chapter XII Registration of Utility Models Chapter XIII Industrial Design and Layout Designs (Topographies) of Integrated Circuits Multiple choice questions PART Ill THE LAW ON TRADEMARKS, SERVICE MARKS AND ‘TRADE NAMES Multiple choice questions PART IV THE LAW ON COPYRIGHT Chapter | Preliminary Provisions Chapter II Original Works Chapter III Derivative Works Chapter IV Works not protected Chapter V Copyright or economic rights Chapter VI Ownership of copyright Chapter VII Transfer or assignment of copyright Chapter VIII Limitations on copyright Chapter IX Deposit and Notice Chapter X Moral rights Chapter XI Rights to proceeds in subsequent transfers Chapter XII Rights of Performers, Producers of sound recordings and broadcasting organizations Chapter XIII Producers of Sound Recordings Chapter XIV Broadcasting Organizations Chapter XV Limitations on Rights Chapter XVI Term of Protection Chapter XVII Infringement Chapter XVIII Scope of Application Chapter XIX Institution of Actions Chapter XX Miscellaneous Provisions PART V FINAL PROVISIONS Multiple choice questions 452 462 475 477 478 493 502 509 512 524 534 545 eS 737 737 745 748 755 758 762 764 766 780 783 785 786 789 790 791 791 793 808 810 810 811 822ANDRIX DANG-OWAN DOMINGO is a Certified Public Accountant and a member of the Integrated Bar of the Philippines. He also holds a degree of Masters in Business Administration. He spent years of experience in the academe and practice of law. He is a reviewer in the subject REGULATORY FRAMEWORK FOR BUSINESS TRANSACTIONS (formerly BUSINESS LAWS) at various (oh Wa ree Meee RCW mel ele Telit He is also a former professor in two Schools of Law. CMM Cu AMC UME eae CM elt eT Te] Pe eC me Cm ter alee me UC Mali Te) elite uty Legal Services Division of the Civil Service Commission. ISBN: 978-621-95242-8-5 Cel Te Ty Delmer MO ees ele aM en 1 Coury = AndrixDomingo@gmail.com Mobile Nos. BLOUSE NA Ya AU SEES CeCe nie A DM aneeLs Baguio City, 2600