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    MCQ (New Topics-Special Laws) - Part

    Uploaded by

    JEP Walwal
    The document discusses various legal topics including anti-money laundering laws, receivership of banks, copyright moral rights, patent infringement suits, and legal schemes for debtors unable to meet obligations.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd

    MCQ (New Topics-Special Laws) - Part

    Uploaded by

    JEP Walwal
    39 views1 page
    The document discusses various legal topics including anti-money laundering laws, receivership of banks, copyright moral rights, patent infringement suits, and legal schemes for debtors unable to meet obligations.

    Original Description:

    MCQ (NEW TOPICS-SPECIAL LAWS) - Part (7)

    Original Title

    Mcq (New Topics-special Laws) - Part (7)

    Copyright

    © © All Rights Reserved

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    The document discusses various legal topics including anti-money laundering laws, receivership of banks, copyright moral rights, patent infringement suits, and legal schemes for debtors unable to meet obligations.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    39 views1 page

    MCQ (New Topics-Special Laws) - Part

    Uploaded by

    JEP Walwal
    The document discusses various legal topics including anti-money laundering laws, receivership of banks, copyright moral rights, patent infringement suits, and legal schemes for debtors unable to meet obligations.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 1

    1.

    Under the Anti-Money Laundering Law, a covered institution is


    required to maintain a system of verifying the true identity of
    their clients as well as persons purporting to act on behalf of
    a. Those doing business with such clients.
    b. Unknown principals.
    c. The covered institution.
    d. Such clients.

    2. A bank can be placed under receivership when, if allowed to


    continue in business, its depositors or creditors would incur
    a. probable losses
    b. inevitable losses
    c. possible losses
    d. a slight chance of losses

    3. Apart from economic rights, the author of a copyright also has


    moral rights which he may transfer by way of assignment. The term
    of these moral rights shall last
    a. During the author's lifetime and for 50 years after his
    death.
    b. Forever.
    c. 50 years from the time the author created his work.
    d. During the author's lifetime.

    4. X invented a device which, through the use of noise, can recharge


    a cellphone battery. He applied for and was granted a patent on
    his device, effective within the Philippines. As it turns out, a
    year before the grant of X's patent, Y, also an inventor,
    invented a similar device which he used in his cellphone business
    in Manila. But X files an injunctive suit against Y to stop him
    from using the device on the ground of patent infringement. Will
    the suit prosper?
    a. No, since the correct remedy for X is a civil action for
    damages.
    b. No, since Y is a prior user in good faith.
    c. Yes, since X is the first to register his device for patent
    registration.
    d. Yes, since Y unwittingly used X’s patented invention.

    5. It is a legal scheme whereby a debtor, who has sufficient assets


    but who may be unable to meet his obligations as and when they
    fall due, may petition for more time within which to settle such
    obligations.
    a. Insolvency Proceedings
    b. Suspension of Payments
    c. Corporate Rehabilitation
    d. Voluntary Insolvency

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