Learning Packet (BL3)

L-NU AA 30-00-01-20
LYCEUM-NORTHWSTERN UNIVERSITY
Dagupan City
COLLEGE OF BUSINESS EDUCATION
LEARNING PACKET
Course Title/Code BL3 | Regulatory Framework and Legal Issues in Business Academic Year: 2020-2021
Name of Faculty: Judy Anne T. Ramirez, CPA Semester: First
Instructors’ Email: [email protected] Class Schedule: MWF | 8:00AM – 10:00AM
Course Credit: Lecture: 6 Units Contact Number: 0966-466-7513
Prerequisite: None Schedule of Online Consultation Hours: TTh 8:00AM-9:00AM
Google Classroom Code: kcwygte
Course Description:
This course is the third in the series of three courses that cover the topic on regulatory framework governing business transactions and business
organizations/associations, and of business laws including their legal implications. The courses provide the students an understanding of the pertinent legal provisions, general
principles, concepts, and underlying philosophy of the laws applicable to commerce and business. The students are given working knowledge to apply the various regulatory
framework measures and the pertinent provisions of the law relative to particular business scenarios. They are also familiarized with clients’ rights and remedies, with the
handling of disputes on regulatory issues. The various regulatory offices that they will be interacting with are discussed including basic regulations that they will derive benefit
from.
This course deals with the law on sales, its nature, form and requisites. It discusses the rights and obligations of the vendor and vendee including remedies in case of
defaults. It also covers applicable laws on installment sales. The course also provides the students an understanding of the law on credit transactions such as pledges, real
mortgages and chattel mortgages. It also discusses the insolvency law as well as corporate rehabilitation.
This course also provides basic knowledge on the Law on Cooperatives and other laws on other business transactions, to wit: PDIC Law, Secrecy of Bank Deposits and
Unclaimed Balances Law, General Banking Law with emphasis on loans, AMLA Law with emphasis on covered transactions, suspicious transactions and reportorial
requirements, the New Central Bank Act with emphasis on legal tender power over coins and notes, conservatorship and receivership and closures, and the Intellectual Property
Law (except provisions under part I) with emphasis on the Law on Patents, the Law on Trademark, Service Marks and Trade Names, and the Law on Copyright.
Program Outcomes:
1. Resolve business issues and problems, with a global and strategic perspective using knowledge and technical proficiency in the areas of financial accounting and
reporting, cost accounting and management, accounting and control, business law and taxation and accounting information systems.
2. Conduct accountancy research through independent studies of relevant literature and appropriate use of accounting theory and methodologies.
3. Employ technology as business tool in capturing financial and non-financial information, generating reports and making decisions.
4. Apply knowledge and skills that will successfully respond to various types of assessments (including professional licensure and certifications).
5. Confidently maintain a commitment to good corporate citizenship, social responsibility and ethical practice in performing functions as an accountant.
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Course Outcomes:
1. Understand the concept, nature, and type of current and non-current liabilities.
2. Know the elements of shareholders’ equity, its recognition and measurement.
3. Compute accounted liabilities and shareholders’ equity.
4. Journalize accounting transactions related to liabilities and shareholders’ equity.
Introduction:
This learning packet for Regulatory Framework and Legal Issues in Business is designed to help you understand how sales, installment sales, credit transactions, insolvency law,
and corporate rehabilitation affect the trade of a business. In addition, the Intellectual Property Law is attached to help you analyze how businesses utilize patents, trademarks,
service marks, trade names, and copyright to establish their brand and market to the public. Also, this learning packet is designed to help you understand how certain types of
industries or businesses such as cooperatives and banks encounter other legal issues such as PDIC Law, Secrecy of Bank Deposits and Unclaimed Balances Law, General
Banking Law, Anti-Money Laundering Law, and New Central Bank Act.
General Guidelines:
This section tells you the general guidelines for completing this learning packet. For specific guidelines and information, kindly review your student manual or your module guide
(if applicable).
1. The class code for Google Classroom specific for this course is to be given by your instructor during the class orientation.
2. Schedule properly your reading assignments and your activity accomplishments.
3. Make sure that you do things one at a time. Read the materials and watch the videos over and over until you are able to get the point of the lesson
4. You will be assessed through formative and summative methods. Kindly see requirements section at the end of this learning packet.
5. You are expected to submit your activities/exams on the dates indicated in this learning packet. Late submission of activities/exams will be dealt based on classroom
policies.
6. Your scores for assignments will be notified to you throughout your period of study.
7. You can learn a great deal from discussing aspects of your learning packet with others. Opinions and insights formed while discussing with other people are no less
valuable than those you form while reading books or listening to lectures. There’s nothing wrong in discussing with your classmates but it should be done before you begin your
individual activities. But when you sit down and do individual activities you are expected to work alone and not to use the work of others (in its entirety or in part) as if it is your
own.
8. The instructor checks your assignments against the work of other students and against internet sources and other published material. If you submit an assignment that
contains work that is not your own without proper referencing and claiming the work of other as your own, you are committing plagiarism. Plagiarism is a form of academic
dishonesty punishable by several guidelines (See student handbook).
9. If you have concerns, kindly communicate with your instructor using the contact information given in this learning packet.
10. If it is not possible to participate in an online discussion due to internet problems, just save your answers in a digitized format in a USB flash drive then send it thru courier
at Lyceum-Northwestern University College of Information and Computing Science, Tapuac District, Dagupan City, Pangasinan or drop it thru the designated drop-boxes at the
university.
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Summary of Course Content:
Part I – Sales
Unit 1 – Nature and Form of the Contract
Unit 2 – Capacity to Buy or Sell
Unit 3 – Effects of the Contract When the Thing Sold Has Been Lost
Unit 4 – Obligations of the Vendor

General Provisions
Delivery of the Thing Sold
Conditions and Warranties
Warranty in Case of Eviction
Warranty Against Hidden Defects of, or Encumbrances upon, the Thing Sold
Unit 5 – Obligations of the Vendee
Unit 6 – Actions for Breach of Contract of Sale of Goods
Unit 7 – Extinguishment of Sale

Conventional Redemption
Legal Redemption
Unit 8 – Assignment of Credits and Other Incorporeal Rights

Conventional Redemption
Legal Redemption
Unit 9 – Assignment of Credits and Other Incorporeal Rights

General Provisions
Unit 10 – Barter or Exchange
Unit 11 – The Bulk Sales Law

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Part II – Agency
Unit 1 – Nature, Form and Kinds of Agency
Unit 2 – Obligations of the Agent
Unit 3 – Obligations of the Principal
Unit 4 – Modes of Extinguishment of Agency
Part III – Credit Transactions
Unit 1 – Introduction
Unit 2 – Loan
Commodatum
Simple Loan or Mutuum
Unit 3 – Deposit
Deposit in General and Its Different Kinds
Voluntary Deposit
Necessary Deposit
Sequestration or Judicial Deposit
Unit 4 – Guaranty
Nature and Extent of Guaranty
Effects of Guaranty
Extinguishment of Guaranty
Legal and Judicial Bonds
Unit 5 – Pledge
Provisions Common to Pledge and Mortgage
Provisions Applicable Only to Pledge
Extinguishment of Guaranty
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Unit 6 – Real Mortgage
Unit 7 – Antichresis
Unit 8 – Chattel Mortgage
Unit 9 – Law on Other Business Transactions

Insolvency Law
PDIC Law
Secrecy of Bank Deposits and Unclaimed Balances Law
General Banking Law & AMLA Law
The New Central Bank Act
Intellectual Property Law
Study Schedule (ASSURE Model)
Week Topic Learning Outcomes Activities

August 17, 2020 Class Orientation Join the online session using Google Meet
PART I – SALES
Chapter 1 – Nature and Form of the Contract
Week 2: Topic: Nature and Form of the Contract
August 28, 2020 1. Definition of contract of sale. A – Analyze the Learners
2. Differentiation between earnest money and 1. Google classroom activity: Partake in the online discussion on your background and
Week 3: option money expectations about Nature and Form of the Contract. Due date: September 2, 2020, 10:00AM.
September 2, 2020 3. Enumerate the remedies available to a
S – State Standards or Objectives
vendor in sale of personal property payable
Please see topic learning outcomes
in installments
4. Identify the characteristics of a contract of S – Select Strategies
sale The following teaching strategies will be used in this topic:
5. Enumerate the contracts of sale that must 1. Synchronous online learning – joining the online class thru Google Meet
be in writing to be enforceable by court 2. Offline learning – reading and self-study of printed resources
action (under Statute of Frauds)
6. Distinguish a contract of sale and a contract U – Utilize Technology, Media and Materials
of agency 1. Read your main reference book (The Law on Sales, Agency and Credit Transactions by Hector
S. De Leon and Hector M. De Leon, Jr.) from pages 1 to 45 covering Articles 1458 to 1488.
2. After reading your book you should be able to answer the following guide questions
a. Distinguish earnest money from option money.
b. What remedies are available to a vendor in sale of personal property in installments? Is the
vendor allowed to recover the unpaid balance of the price?
c. Give the characteristics of a contract of sale. Explain at least three (3) of them.
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d. Under the Statute of Frauds, what contract of sale must be in writing to be enforceable by
court action?
e. Give at least three (3) distinctions between a contract of sale and a contract of agency to
sell.
3. Attend the online class lecture on this topic on August 28, 2020 and September 2, 2020 at
8:00AM-10:00AM using Google Meet.
R – Require Learner Participation
1. Individual activity
a. Provide an explanation to the (5) exercise problems provided on Google Classroom. State
a rule or reason for your answer.
b. Solutions of the chosen exercise problems will be posted on September 2, 2020, 10:00AM
using Google Classroom.
E – Evaluate
1. Answer a quiz assignment on this topic which will be posted in Google classroom on
September 2, 2020 at 8:00AM-10:00AM.
Optional Task:
1. Review the source materials provided on Google Classroom.
Chapter 2: Capacity to Buy or Sell
Week 3: Topic: Capacity to Buy or Sell
September 4, 2020 1. Definition of necessaries and compromise A – Analyze the Learners
2. Discussion of the relative incapacity of 1. Google classroom activity: Partake in the online discussion on your background and
husband and wife expectations about Capacity to Buy or Sell. Due date: September 4, 2020, 10:00AM.
3. Identify the people who may enter into a
contract of sale
S – Select Strategies
The following teaching strategies will be used in this topic:
1. Synchronous online learning – joining the online class thru Google Meet
2. Offline learning – reading and self-study of printed resources
U – Utilize Technology, Media and Materials
1. Read your main reference book (The Law on Sales, Agency and Credit Transactions by Hector
2. After reading your book you should be able to answer the following guide questions:
a. Are husband and wife allowed to sell property to each other?
b. Under the law, who may enter into a contract of sale?
3. Attend the online class lecture on this topic on September 4, 2020 at 8:00AM-10:00AM using
Google Meet.
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E – Evaluate
Optional Task:
Chapter 3: Effects of the Contract When the Thing Sold Has Been Lost
Week 3: Topic: Effects of the Contract When the Thing Sold Has Been Lost
September 4, 2020 1. Discussion of specific goods and divisible A – Analyze the Learners
contract 1. Google classroom activity: Partake in the online discussion on your background and
2. Identify when is a thing considered lost expectations about Effects of the Contract When the Thing Sold Has Been Lost. Due date:
3. Identify the effect of loss of thing at the time September 4, 2020, 10:00AM.
of sale
S. De Leon and Hector M. De Leon, Jr) from pages 55 to 58 covering Articles 1493 to 1494.
a. When is a thing sold considered lost?
b. Give the effect in case the thing sold is: a. lost totally and b. lost partially
Google Meet.
E – Evaluate
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Optional Task:
Chapter 4: Obligations of the Vendor
Week 4: Topic 1: General Provisions
September 7, 2020 1. Enumerate the principal obligations of the A – Analyze the Learners
vendors. 1. Google classroom activity: Partake in the online discussion on your background and
2. Distinguish actual delivery from constructive expectations about the General Provisions on the Obligations of the Vendor. Due date:
delivery. September 7, 2020, 10:00AM.
a. Give the cases when a sale of property is valid although seller is not the owner thereof.
b. What are the principal obligations of the vendor?
Google Meet.
a. Provide an explanation to the (8) exercise problems provided on Google Classroom. State a
rule or reason for your answer
using Google Classroom
E – Evaluate
September 7, 2020 at 10:00AM.
Optional Task:
Week 4: Topic 2: Delivery of the Thing Sold
September 9, & 11, 2020 1. Enumerate the ways of effecting delivery by A – Analyze the Learners
the vendor to the vendee. 1. Google classroom activity: Partake in the online discussion on your background and
2. Identify the party who bears the loss in case expectations about Delivery of the Thing Sold. Due date: September 11, 2020, 10:00AM.
the thing goes out of commerce
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a. What are the different ways of effecting delivery to the buyer of the thing sold?
b. Suppose the parties failed to stipulate the place of delivery of the thing sold, where is the
place of delivery?
c. Suppose the thing sold is lost after perfection of the sale but before its delivery to the
buyer, who shall bear the loss by a fortuitous event? Explain.
3. Give the following remedies in case of 3. Attend the online class lecture on this topic on September 9, & 11, 2020 at 8:00AM-10:00AM
breach by a contracting party using Google Meet.
b. Solutions of the chosen exercise problems will be presented on September 11, 2020,
10:00AM using Google Meet.
E – Evaluate
Optional Task:
Week 5: Topic 3: Conditions and Warranties
September 14, 2020 1. Enumerate the ways of effecting delivery by A – Analyze the Learners
the vendor to the vendee. 1. Google classroom activity: Partake in the online discussion on your background and
expectations about Conditions and Warranties. Due date: September 14, 2020, 10:00AM.
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S. De Leon and Hector De Leon, Jr.) from pages 129 to 163 covering Articles 1545 to 1581.
a. Give the requisites for the exercise by an unpaid seller of his right of stoppage in transit.
b. What are the implied warranties in a contract of sale?
c. Distinguish “sale or return” from “sale on trial”.
Google Meet.
E – Evaluate
Optional Task:
Chapter 5: Obligations of the Vendee
Week 5: Topic: Obligations of the Vendee
September 16, 2020 1. Enumerate the principal obligations of the A – Analyze the Learners
vendee. 1. Google classroom activity: Partake in the online discussion on your background and
2. Enumerate the rules on delivery in expectations about Obligations of the Vendee. Due date: September 16, 2020, 10:00AM.
installments.
3. Discuss the buyer’s right to examine the
goods.
4. Discuss the modes of manifesting S – Select Strategies
acceptance. The following teaching strategies will be used in this topic:
5. Difference of delivery and acceptance. 1. Synchronous online learning – joining the online class thru Google Meet
2. Peer learning – group activity
a. When is there implied acceptance by the vendee of the goods sold?
b. Give the cases when the vendee is given the right to suspend payment of the purchase
price.
Google Meet.
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E – Evaluate
Optional Task:
Week 5: Answer the 60-item exam that will be posted in the Google Classroom
Preliminary Exam
September 18, 2020 Start Time: 8:00AM | Due Time: 10:00AM
Chapter 6: Actions for Breach of Contract of Sale of Goods
Week 6: Topic: Actions for Breach of Contract of Sale of Goods
September 21, 2020 1. Enumerate the actions available on the A – Analyze the Learners
breach of contract of sale of goods. 1. Google classroom activity: Partake in the online discussion on your background and
2. Measure the damages for non-acceptance expectations about Actions for Breach of Contract of Sale of Goods. Due date: September 21,
of the goods. 2020, 10:00AM.
3. Enumerate the remedies available to the
buyer for breach of warranty by the seller.
4. Enumerate the rights and obligations of the
buyer in case of rescission. S – Select Strategies
a. In general, what actions are available to the buyer in case of breach of warranty by the
seller of goods?
b. When is the buyer not given the right to rescind although the seller committed a breach of
warranty?
c. Give three (3) situation where the seller is given the right to bring an action for damages
against B.
d. Give two (2) situations where the seller of specific goods is given the right to be paid
notwithstanding that delivery to B has not been effected.
Google Meet.
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E – Evaluate
Optional Task:
Chapter 7: Extinguishment of Sale
Week 6: Topic: Conventional Redemption
September 21 & 23, 2020 1. Discuss conventional redemption. A – Analyze the Learners
2. Discuss equitable mortgage. 1. Google classroom activity: Partake in the online discussion on your background and
3. Analyze the redemption and subrogation. expectations about Conventional Redemption. Due date: September 23, 2020, 10:00AM.
4. Differentiate the effect on a joint sale and
separate sale of an undivided immovable.
a. Give the cases when a contract shall be presumed by law to be an equitable mortgage.
b. What are the obligations of a vendor a retro who desires to exercise his right of
repurchase?
3. Attend the online class lecture on this topic on September 21 & 23, 2020 at 8:00AM-10:00AM
using Google Meet.
E – Evaluate
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Optional Task:
Week 6: Topic: Legal Redemption
September 21 & 23, 2020 1. Define legal redemption. A – Analyze the Learners
2. Enumerate the rights of adjacent owners. 1. Google classroom activity: Partake in the online discussion on your background and
expectations about Legal Redemption. Due date: September 23, 2020, 10:00AM.
a. What are the requisites for the right of legal redemption of a co-owner to exist?
Google Meet.
E – Evaluate
Optional Task:
Chapter 8: Assignment of Credits and Other Incorporeal Rights
Week 6: Topic: Assignment of Credits and Other Incorporeal Rights
September 25, 2020 1. Discuss the nature and perfection of A – Analyze the Learners
assignment of credit. 1. Google classroom activity: Partake in the online discussion on your background and
2. Enumerate the warranties and liabilities of expectations about Assignment of Credits and Other Incorporeal Rights. Due date: September
the assignor of credit. 25, 2020, 10:00AM.
3. Analyze the sale of successional or
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1. Asynchronous online learning – participation in online discussion, answering guide questions
and viewing suggested videos in YouTube
a. What does an assignor of credit warrant and what liabilities will he incur in case of violation
thereof?
b. Why is assignment of credit regarded as really a sale?
hereditary rights and sale of whole of certain
Google Meet.
rights, rents, or products.
4. Discuss the legal redemption. R – Require Learner Participation
E – Evaluate
Optional Task:
Chapter 9: General Provisions
Week 6: Topic: General Provisions
September 25, 2020 1. Definition of terms. A – Analyze the Learners
2. Discuss the sale of immovable subject to 1. Google classroom activity: Partake in the online discussion on your background and
registration law. expectations about General Provisions. Due date: September 25, 2020, 10:00AM.
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a. As used in the law, what does the phrase “document of title to goods” include?
b. Under the law, when is a person deemed insolvent and when are goods considered in a
“deliverable state”?
Google Meet.
a. Provide an explanation to the (1) exercise problem provided on Google Classroom. State a
rule or reason for your answer.
E – Evaluate
Optional Task:
Chapter 10: Barter or Exchange
Week 7: Topic: Barter or Exchange
September 28, 2020 1. Definition of barter. A – Analyze the Learners
2. Discuss the perfection and consummation of 1. Google classroom activity: Partake in the online discussion on your background and
the contract. expectations about Barter or Exchange. Due date: September 28, 2020, 10:00AM.
3. Analyze the applicability of provisions on
sales.
a. Why is barter considered a sale?
b. When is the contract of barter perfected and consummated?
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Google Meet.
E – Evaluate
Optional Task:
Chapter 11: The Bulk Sales Law
Week 7: Topic: The Bulk Sales Law
September 28, 2020 1. Discuss the purpose and scheme of the law. A – Analyze the Learners
2. Provide a definition on stock, merchandise, 1. Google classroom activity: Partake in the online discussion on your background and
and fixtures. expectations about The Bulk Sales Law. Due date: September 28, 2020, 10:00AM.
3. Enumerate the acts that are punishable by
law.
S. De Leon and Hector De Leon, Jr.) from pages 247 to 255.
a. Under the law, when is sale or transfer considered in bulk?
b. Give the purpose and general scheme of the law.
Google Meet.
E – Evaluate
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Optional Task:
PART II – AGENCY
Chapter 1: Nature, Form and Kinds of Agency
Week 7: Topic: Nature, Form and Kinds of Agency
September 28 & 30, 2020 1. Discuss the contract and purpose of agency. A – Analyze the Learners
2. Enumerate the kinds of agency. 1. Google classroom activity: Partake in the online discussion on your background and
3. Enumerate and discuss the general and expectations about Nature, Form and Kinds of Agency. Due date: September 30, 2020,
special agencies. 10:00AM.
4. Discuss the special powers necessary.
S. De Leon and Hector De Leon, Jr.) from pages 257 to 284 covering Articles 1868-1883.
a. May a principal be bound by the act of an agent beyond his power? Explain.
b. What do you understand by the statement that agency is a representative relation?
c. Give at least four (4) cases when a special power of attorney is necessary for their
execution by an agent.
d. Enumerate the four (4) essential elements of agency.
3. Attend the online class lecture on this topic on September 28 & 30, 2020 at 8:00AM-10:00AM
using Google Meet.
E – Evaluate
Optional Task:
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Chapter 2: Obligations of the Agent

Week 7: Topic: Obligations of the Agent
October 2, 2020 1. Enumerate the specific obligations of the A – Analyze the Learners
agent. 1. Google classroom activity: Partake in the online discussion on your background and
2. Differentiate instructions from authority. expectations about Obligations of the Agent. Due date: October 2, 2020, 10:00AM.
3. Discuss the liability of two or more agents
towards principal. S – State Standards or Objectives
4. Discuss the obligation of commission. Please see topic learning outcomes
5. Analyze the liability of agent for fraud,
negligence, and intentional wrong. S – Select Strategies
a. When may an agent incur personal liability to the party whom he contracts?
b. State the right given to the principal in case sale on credit is made by the agent without
authority from the principal.
c. Give at least five (5) specific obligations of the agent.
3. Attend the online class lecture on this topic on October 2, 2020 at 8:00AM-10:00AM using
Google Meet.
b. Solutions of the chosen exercise problems will be presented on October 2, 2020, 10:00AM
using Google Meet.
E – Evaluate
1. Answer a quiz assignment on this topic which will be posted in Google classroom on October 2,
2020 at 10:00AM.
Optional Task:
Chapter 3: Obligations of the Principal
Week 8: Topic: Obligations of the Principal
principal to the agent. 1. Google classroom activity: Partake in the online discussion on your background and
2. Discuss the obligation to advance funds and expectations about Obligations of the Principal. Due date: October 5, 2020, 10:00AM.
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reimbursement of advanced funds. S – State Standards or Objectives

3. Enumerate the cases when principal is not Please see topic learning outcomes
liable for expenses.
a. Give at least four (4) specific obligations of the principal.
b. In what cases will the principal not be liable for expenses incurred by the agent in the
performance of the agency?
Google Meet.
using Google Meet.
E – Evaluate
2020 at 10:00AM.
Optional Task:
Chapter 4: Modes of Extinguishment of Agency
Week 8: Topic: Modes of Extinguishment of Agency
October 5, 2020 1. Enumerate and discuss the modes of A – Analyze the Learners
extinguishing an agency. 1. Google classroom activity: Partake in the online discussion on your background and
2. Enumerate and discuss the kinds of expectations about Modes of Extinguishment of Agency. Due date: October 5, 2020, 10:00AM.
revocation.
3. Discuss the withdrawal and liability of the
agent.
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a. What are the three (3) modes of extinguishing an agency?
b. Give three (3) examples of implied revocation of agency.
Google Meet.
using Google Meet.
E – Evaluate
2020 at 10:00AM.
Optional Task:
Week 8: Answer the 60-item exam that will be posted I n the Google Classroom
Long Quiz
October 7, 2020 Start Time: 8:00AM | Due Time: 10:00AM
Week 8: Type of Question: Essay

Discussion of the Long Quiz
October 9, 2020 Answers will be presented on October 9, 2020, 10:00AM using Google Meet
PART III – CREDIT TRANSACTIONS
A. Loan – General Provisions
Week 9: Topic: General Provisions
October 12, 2020 1. Define the characteristics of contract of loan. A – Analyze the Learners
2. Enumerate the kinds of loan and 1. Google classroom activity: Partake in the online discussion on your background and
commodatum. expectations about the General Provisions on Loan. Due date: October 12, 2020, 10:00AM.
3. Distinguish commodatum and mutuum.
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2. After reading your book you should be able to answer the following guide question:
a. Give at least four (4) distinctions between commodatum and mutuum (simple loan).
Google Meet.
b. Solutions of the chosen exercise problems will be presented on October 12, 2020,
E – Evaluate
1. Answer a quiz assignment on this topic which will be posted in Google classroom on October
12, 2020 at 10:00AM.
Optional Task:
Chapter 1: Commodatum
Week 9: Topic 1: Nature of Commodatum
October 12, 2020 1. Determine the extent of bailee’s right of use. A – Analyze the Learners
2. Define the subject matter of the contract. 1. Google classroom activity: Partake in the online discussion on your background and
expectations about Nature of Commodatum. Due date: October 12, 2020, 10:00AM.
a. In what cases is the bailee/borrower liable to the bailor/lender for loss of the thing loaned
even if through a fortuitous event without his fault?
b. When is the bailor given the right to demand the return of the thing loaned at any time?
Google Meet.
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10:00AM using Google Meet
E – Evaluate
12, 2020 at 10:00AM.
Optional Task:
Week 9: Topic 2: Obligations of the Bailee
bailee. 1. Google classroom activity: Partake in the online discussion on your background and
2. Enumerate the types of liability that the expectations about Obligations of the Principal. Due date: October 12, 2020, 10:00AM.
bailee may incur.
Google Meet.
E – Evaluate
12, 2020 at 10:00AM.
Optional Task:
Week 9: Topic 3: Obligations of the Bailor
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bailor. 1. Google classroom activity: Partake in the online discussion on your background and
2. Enumerate the types of expenses that a expectations about Obligations of the Bailor. Due date: October 12, 2020, 10:00AM.
bailor should refund.
Google Meet.
E – Evaluate
12, 2020 at 10:00AM.
Optional Task:
Chapter 2: Simple Loan or Mutuum
Week 9: Topic: Simple Loan or Mutuum
October 14, 2020 1. Definition of simple loan or mutuum. A – Analyze the Learners
2. Definition of fungible things. 1. Google classroom activity: Partake in the online discussion on your background and
3. Distinguish mutuum and commodatum from expectations about Simple Loan or Mutuum. Due date: October 14, 2020, 10:00AM.
barter.
4. Enumerate the usurious transactions
governed by laws.
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a. Distinguish mutuum and commodatum from barter.
b. How shall the interest be determined if for money loaned, the same shall be payable
instead in kind?
Google Meet.
E – Evaluate
14, 2020 at 10:00AM.
Optional Task:
Answer the 60-item exam that will be posted I n the Google Classroom
Start Time: 8:00AM | Due Time: 9:00AM
Week 9:
Short Quiz & Discussion
October 16, 2020 Type of Question: Essay
Answers will be presented on October 16, 2020, 10:00AM using Google Meet
Midterm Exam
B. Deposit
Chapter 1: Deposit in General and Its Different Kinds
Week 10: Topic: Deposit in General and Its Different Kinds
October 21, 2020 1. Definition of contract of deposit. A – Analyze the Learners
2. Enumerate the characteristics of contract of 1. Google classroom activity: Partake in the online discussion on your background and
deposit. expectations about Deposit in General and Its Different Kinds. Due date: October 21, 2020,
3. Distinguish deposit from mutuum and 10:00AM.
commodatum.
4. Enumerate the kinds of deposit and
extrajudicial deposit.
L-NU AA 30-00-01-20
a. Distinguish deposit from mutuum.
b. Distinguish deposit from commodatum.
Google Meet.
E – Evaluate
21, 2020 at 10:00AM.
Optional Task:
Chapter 2: Voluntary Deposit
Week 10: Topic: Voluntary Deposit
October 21 & 23, 2020 1. Definition of voluntary deposit. A – Analyze the Learners
2. Enumerate the instances where there are 1. Google classroom activity: Partake in the online discussion on your background and
several depositors. expectations about Voluntary Deposit. Due date: October 23, 2020, 10:00AM.
3. Discuss the capacity of the depositary and
depositor.
a. What is the nature of the relation between a bank and a depositor?
L-NU AA 30-00-01-20
b. May the depositor make use of the thing deposited?

c. When is the depositary liable to the depositor for loss of the thing if the thing deposited
even due through a fortuitous event?
Google Meet.
b. Solutions of the chosen exercise problems will be presented on October 21 & 23, 2020,
E – Evaluate
23, 2020 at 10:00AM.
Optional Task:
Chapter 3: Necessary Deposit
Week 10: Topic: Necessary Deposit
October 23, 2020 1. Enumerate the kinds of necessary deposit. A – Analyze the Learners
2. Discuss the liability of hotel-keeper. 1. Google classroom activity: Partake in the online discussion on your background and
3. Explain the exemption or diminution of expectations about Voluntary Deposit. Due date: October 23, 2020, 10:00AM.
liability.
a. Give at least three (3) examples of necessary deposit made in compliance with a legal
obligation.
b. When is a hotel-keeper not liable for loss of, or injury to, effects deposited by guests or
travelers?
Google Meet.
L-NU AA 30-00-01-20
E – Evaluate
23, 2020 at 10:00AM.
Optional Task:
Chapter 4: Sequestration or Judicial Deposit
Week 10: Topic: Sequestration or Judicial Deposit
October 23, 2020 1. Explain the nature and purpose of judicial A – Analyze the Learners
deposit. 1. Google classroom activity: Partake in the online discussion on your background and
2. Enumerate the obligation of depositary of expectations about Sequestration or Judicial Deposit. Due date: October 23, 2020, 10:00AM.
sequestrated property.
3. Distinguish judicial and extrajudicial deposit.
a. Give at least four (4) distinctions between judicial and extrajudicial deposits.
Google Meet.
c. Provide an explanation to the (1) exercise problem provided on Google Classroom. State a
d. Solutions of the chosen exercise problems will be presented on October 23, 2020,
E – Evaluate
23, 2020 at 10:00AM.
Optional Task:
L-NU AA 30-00-01-20
Long Quiz
Week 11: Type of Question: Essay
Discussion of the Long Quiz
October 28, 2020 Answers will be presented on October 28, 2020, 10:00AM using Google Meet
C. Guaranty
Chapter 1: Nature and Extent of Guaranty
Week 11: Topic: Nature and Extent of Guaranty
October 30, 2020 1. Explain the nature of guaranty. A – Analyze the Learners
2. Enumerate the characteristics of guaranty. 1. Google classroom activity: Partake in the online discussion on your background and
3. Enumerate and explain the liabilities of the expectations about Nature and Extent of Guaranty. Due date: October 30, 2020, 10:00AM.
guarantor.
4. Discuss the qualifications and selection of
the guarantor.
a. Distinguish guaranty from suretyship.
b. Why is guaranty an accessory, subsidiary, and a unilateral contract?
Google Meet.
E – Evaluate
30, 2020 at 10:00AM.
Optional Task:
Chapter 2: Effects of Guaranty
Week 11: Topic: Effects of Guaranty
October 30, 2020 1. Explain the entitlement of the guarantor to A – Analyze the Learners
L-NU AA 30-00-01-20
excussion or exhaustion. 1. Google classroom activity: Partake in the online discussion on your background and
2. Enumerate the exceptions to the excussion expectations about Effects of Guaranty. Due date: November 2, 2020, 10:00AM.
or exhaustion.
3. Enumerate and explain the effects of
compromise between creditor and the
principal debtor. S – Select Strategies
a. Give at least four (4) cases when the benefit of excussion shall not take place.
b. Give at least four (4) cases when the guarantor is allowed to sue the principal debtor even
before the guarantor has paid the creditor.
Week 12: 3. Attend the online class lecture on this topic on October 30 & November 2, 2020 at 8:00AM-
November 2, 2020
b. Solutions of the chosen exercise problems will be presented on November 2, 2020,
E – Evaluate
1. Answer a quiz assignment on this topic which will be posted in Google classroom on November
2, 2020 at 10:00AM.
Optional Task:
Chapter 3: Extinguishment of Guaranty
Week 12: Topic: Extinguishment of Guaranty
November 2, 2020 1. Enumerate and explain the causes of A – Analyze the Learners
extinguishment of guaranty. 1. Google classroom activity: Partake in the online discussion on your background and
2. Enumerate and explain the defenses expectations about Extinguishment of Guaranty. Due date: November 2, 2020, 10:00AM.
available to guarantor against creditor.
L-NU AA 30-00-01-20

a. Give three (3) situations when a guarantor is released from his undertaking although the
principal obligation still remains.
b. Give at least five (5) causes of extinguishment of an obligation which result in the
extinguishment of a guaranty or an accessory contract.
3. Attend the online class lecture on this topic on November 2, 2020 at 8:00AM-10:00AM using
Google Meet.
E – Evaluate
2, 2020 at 10:00AM.
Optional Task:
Chapter 4: Legal and Judicial Bonds
Week 12: Topic: Legal and Judicial Bonds
November 4, 2020 1. Discuss the meaning and form of bond. A – Analyze the Learners
2. Enumerate and explain the qualifications of 2. Google classroom activity: Partake in the online discussion on your background and
personal bondsman. expectations about Legal and Judicial Bonds. Due date: November 4, 2020, 10:00AM.
a. What can be given in lieu of bond, if the person bound to give it is unable to do so?
L-NU AA 30-00-01-20
Google Meet.
E – Evaluate
4, 2020 at 10:00AM.
Optional Task:
D. Pledge
Chapter 1: Provisions Common to Pledge and Mortgage
Week 12: Topic: Provisions Common to Pledge and Mortgage
November 4, 2020 1. Define pledge. A – Analyze the Learners
2. Define pacto comisorio. 1. Google classroom activity: Partake in the online discussion on your background and
expectations about Provisions Common to Pledge and Mortgage. Due date: November 4,
2020, 10:00AM.
a. Distinguish pledge from mortgage.
b. What are the essential requisites of pledge or mortgage?
Google Meet.
L-NU AA 30-00-01-20
E – Evaluate
4, 2020 at 10:00AM.
Optional Task:
Chapter 2: Provisions Applicable Only to Pledge
Week 12: Topic: Provisions Applicable Only to Pledge
November 4, 2020 1. Define legal pledge. A – Analyze the Learners
2. Enumerate the provisions applicable only to 1. Google classroom activity: Partake in the online discussion on your background and
pledge. expectations about Provisions Applicable Only to Pledge. Due date: November 4, 2020,
10:00AM.
a. What are the formalities or requisites required before a pledgee may case the sale of the
thing pledged?
b. What are the four (4) obligations of the pledgee?
c. Enumerate at least four (4) rights of the pledger.
Google Meet.
E – Evaluate
4, 2020 at 10:00AM.
Optional Task:
L-NU AA 30-00-01-20
Week 12: Answer the 60-item quiz that will be posted in the Google Classroom
Quiz
November 6, 2020 Start Time: 8:00AM | Due Time: 10:00AM
Semi-Finals Exam
E. Real Mortgage
Week 14: Topic: Real Mortgage
November 16, 2020 1. Define mortgage. A – Analyze the Learners
2. Define foreclosure. 1. Google classroom activity: Partake in the online discussion on your background and
expectations about Real Mortgage. Due date: November 16, 2020, 10:00AM.
a. What may be the object of subject matter of a contract of mortgage?
b. Distinguish equity of redemption and right of redemption.
Google Meet.
E – Evaluate
16, 2020 at 10:00AM.
Optional Task:
F. Antichresis
Week 14: Topic: Antichresis
November 18, 2020 1. Define the contract of antichresis. A – Analyze the Learners
L-NU AA 30-00-01-20
1. Google classroom activity: Partake in the online discussion on your background and
expectations about Antichresis. Due date: November 18, 2020, 10:00AM.
a. What is the difference of antichresis and mortgage?
b. What is the difference of antichresis and pledge?
Google Meet.
E – Evaluate
18, 2020 at 10:00AM.
Optional Task:
G. Chattel Mortgage
Week 14: Topic: Chattel Mortgage
November 20, 2020 1. Define chattel mortgage. A – Analyze the Learners
2. Define affidavit of good faith 1. Google classroom activity: Partake in the online discussion on your background and
expectations about Chattel Mortgage. Due date: November 20, 2020, 10:00AM.
L-NU AA 30-00-01-20

a. May immovable property be mortgaged under the Chattel Mortgage Law?
b. A contract of chattel mortgage does not include an affidavit of good faith appended to it as
required by law. Is the mortgage valid?
Google Meet.
E – Evaluate
20, 2020 at 10:00AM.
Optional Task:
Law on Other Business Transactions
Week 15: Topic 1: Insolvency Law
November 23 & 25, 2020 1. Define insolvency. A – Analyze the Learners
2. Enumerate the qualifications of insolvency. 2. Google classroom activity: Partake in the online discussion on your background and
expectations about Insolvency Law. Due date: November 25, 2020, 10:00AM.
1. Read your reference material Republic Act No. 10142
(https://www.officialgazette.gov.ph/2010/07/18/republic-act-no-10142/)
a. What is the nature of the proceedings?
b. What entities are excluded from the section?
c. How do substantive and procedural consolidation operate?
d. What are the types of proceedings?
L-NU AA 30-00-01-20
Google Meet.
E – Evaluate
25, 2020 at 10:00AM.
Optional Task:
Quiz
Week 16: Topic 2: PDIC Law
December 2, 2020 1. Explain the insurance on deposit. A – Analyze the Learners
2. Discuss the coverage of insurance deposit 1. Google classroom activity: Partake in the online discussion on your background and
on financial institutions. expectations about PDIC Law. Due date: December 2, 2020, 10:00AM.
1. Read your reference material Republic Act No. 9576 (http://www.pdic.gov.ph/files/ra9576.pdf)
a. What is the amount of maximum deposit insurance coverage?
b. What are the accounts not covered by the insurance on deposit?
3. Attend the online class lecture on this topic on December 2, 2020 at 8:00AM-10:00AM using
Google Meet.
b. Solutions of the chosen exercise problems will be presented on December 2, 2020,
L-NU AA 30-00-01-20
E – Evaluate
1. Answer a quiz assignment on this topic which will be posted in Google classroom on December
2, 2020 at 10:00AM.
Optional Task:
Week 16: Topic 3: Secrecy of Bank Deposits and Unclaimed Balances Law
December 4, 2020 1. Enumerate the covered persons. A – Analyze the Learners
2. Discuss confidentiality of deposits and 1. Google classroom activity: Partake in the online discussion on your background and
reversion of unclaimed balances. expectations about Secrecy of Bank Deposits and Unclaimed Balances Law. Due date:
December 4, 2020, 10:00AM.
1. Read your reference material Republic Act No. 1405 and PD 679
(https://lawphil.net/statutes/repacts/ra1955/ra_1405_1955.html;
https://www.lawphil.net/statutes/presdecs/pd1975/pd_679_1975.html)
a. What is the purpose of confidentiality of bank deposits?
b. What are the covered institutions on unclaimed balances?
Google Meet.
E – Evaluate
4, 2020 at 10:00AM.
Optional Task:
Week 17: Topic 4: General Banking Law & AMLA Law
December 7, 2020 1. Enumerate the classification of banks. A – Analyze the Learners
L-NU AA 30-00-01-20
2. Discuss money laundering. 1. Google classroom activity: Partake in the online discussion on your background and
expectations about General Banking Law & AMLA Law. Due date: December 7, 2020,
10:00AM.
1. Read your reference material Republic Act No. 8791 and 9160
(http://www.bsp.gov.ph/downloads/Regulations/gba.pdf; http://www.amlc.gov.ph/laws/money-
laundering/2015-10-16-02-50-56/republic-act-9160)
a. What is the process on organization, management, administration of banks, quasi-banks,
and trust entities?
b. What is the difference of deposits, loans, and other operations?
c. What is breach of instrumentality?
Google Meet.
E – Evaluate
7, 2020 at 10:00AM.
Optional Task:
Week 17: Topic 5: The New Central Bank Act
December 9, 2020 1. Discuss the creation of Bangko Sentral. A – Analyze the Learners
2. Discuss the monetary board. 1. Google classroom activity: Partake in the online discussion on your background and
expectations about PDIC Law. Due date: December 9, 2020, 10:00AM.
L-NU AA 30-00-01-20
(https://lawphil.net/statutes/repacts/ra1993/ra_7653_1993.html)
a. What are the powers and duties of the governor and deputy governors of the Bangko
Sentral?
b. How does the Bangko Sentral ng Pilipinas conduct its operations?
c. What are the reports and publications by the BSP?
Google Meet.
E – Evaluate
9, 2020 at 10:00AM.
Optional Task:
Week 17: Topic 6: Intellectual Property Law
December 11, 2020 1. Discuss the creation of Bangko Sentral. A – Analyze the Learners
2. Discuss the monetary board. 1. Google classroom activity: Partake in the online discussion on your background and
expectations about Intellectual Property Law. Due date: December 11, 2020, 10:00AM.
(https://www.officialgazette.gov.ph/1997/06/06/republic-act-no-8293/)
a. What are the intangible assets protected by the law?
L-NU AA 30-00-01-20
Google Meet.
E – Evaluate
11, 2020 at 10:00AM.
Optional Task:
Quiz
December 14, 2020 Start Time: 8:00AM | Due Time: 10:00AM
Final Exam
December 18, 2020 Start Time: 8:00AM | Due Time: 10:00AM
COURSE REQUIREMENTS:
Formative Assessment Methods:
Activities indicated in the “Analysis” part of the module
Informal class recitations
Summative Assessment Methods:

Quizzes, Unit test, Recitation, Online Synchronous and Asynchronous Activities, Periodic Examinations
Note: Rubrics for each class work will be given by your instructor during the briefing before the activity.
GRADING SYSTEM:
Semestral Grade = (Prelim Grade*25%) + (Midterm Grade*25%) + (Semi-Final Grade*25%) + (Final Grade*25%)
For every grading period:
Periodic Exam – 40%
Student Course Work – 60 % (Recitation 25%, Quizzes 25%, Requirements 20%, Attendance 10%, Assignment 20%)
In order to earn a passing grade, the student should get a transmuted grade of 75%
BIBLIOGRAPHY:
L-NU AA 30-00-01-20
Main Reference:
The Law on Sales, Agency, and Credit Transactions 2013 Ed. by Hector S. De Leon and Hector M. De Leon, Jr.
Additional References:
Prepared by: Recommended by: Approved by:
JUDY ANNE T. RAMIREZ, CPA DR. GENOVEVA Y. REYES, CPA, FRIAcc DR. MARINA O. ABELLA
Instructor Dean Vice-President, Academic Affairs

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L-NU AA 30-00-01-20

COLLEGE OF BUSINESS EDUCATION

Summary of Course Content:

Unit 1 – Nature and Form of the Contract

Unit 2 – Capacity to Buy or Sell

Unit 4 – Obligations of the Vendor

Unit 5 – Obligations of the Vendee

Unit 6 – Actions for Breach of Contract of Sale of Goods

Unit 7 – Extinguishment of Sale

Unit 8 – Assignment of Credits and Other Incorporeal Rights

Unit 9 – Assignment of Credits and Other Incorporeal Rights

Unit 10 – Barter or Exchange

Unit 11 – The Bulk Sales Law

Unit 1 – Nature, Form and Kinds of Agency

Unit 2 – Obligations of the Agent

Unit 3 – Obligations of the Principal

Unit 4 – Modes of Extinguishment of Agency

Part III – Credit Transactions

Unit 6 – Real Mortgage

Unit 8 – Chattel Mortgage

Unit 9 – Law on Other Business Transactions

Study Schedule (ASSURE Model)

Week Topic Learning Outcomes Activities

Please see topic learning outcomes

R – Require Learner Participation

September 23, 2020 at 10:00AM.

Please see topic learning outcomes

U – Utilize Technology, Media and Materials

Chapter 2: Obligations of the Agent

reimbursement of advanced funds. S – State Standards or Objectives

Week 8: Type of Question: Essay

b. May the depositor make use of the thing deposited?

2. Offline learning – reading and self-study of printed resources

U – Utilize Technology, Media and Materials

Summative Assessment Methods:

Prepared by: Recommended by: Approved by:

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