Ateneo de Zamboanga University

School of Management and Accountancy

Accountancy Department

SYLLABUS IN INTEGRATIVE COURSE IN REGULATORY FRAMEWORK FOR BUSINESS

TRANSACTIONS (RFBT)

Semester/Number of Units: Second Semester/Three (3) units

Instructors: K.J. Culajara, CPA, JD/A.E.A. Toribio, CPA

At the end of the semester, the class must be able to cover all of the following topics, including
other laws, rules or regulations that may be relevant to the subject matter at hand:

Week Topics Instructor

1 I. OBLIGATIONS Adriel Earl A. Toribio, CPA
A. General provisions
B. Nature and effect of obligations
C. Kinds of obligations
D. Extinguishment of obligations
II. CONTRACTS
A. General provisions
B. Formality
C. Reformation of instruments
D. Interpretation of contracts
E. Defective contracts
III. NATURAL OBLIGATIONS
IV. ESTOPPEL
2 V. SALES Adriel Earl A. Toribio, CPA
A. General provisions
B. Parties
C. Obligations of the vendor
D. Obligations of the vendee
E. Transfer of ownership
F. Risk of loss
G. Documents of title
H. Warranties
I. Breach of contract
1. Article 1484 of the Civil Code
(i.e. “Recto Law”)
2. Republic Act No. 6552 (i.e.
“Realty Installment Buyer
Protection Act” or the
“Maceda Law”)
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 3. Presidential Decree No. 957
(i.e. “The Condominium Act”)

Also includes the following:

 Batas Pambansa Bilang 22 (otherwise
known as “Bouncing Checks Law”), in
comparison with estafa under Article
315 of the Revised Penal Code
 Republic Act No. 7394 (i.e. “The
Consumer Act of the Philippines”)
 Republic Act No. 7581 (i.e. “The Price
Act”)
 Republic Act No. 10642 (i.e. “The
Philippine Lemon Law”)
3 VI. INTELLECTUAL PROPERTY CODE OF Adriel Earl A. Toribio, CPA
THE PHILIPPINES
1. Intellectual property rights in
general
2. Patents
3. Trademarks
4. Copyright
VII. DATA PRIVACY ACT OF 2012
1. Definitions and scope
2. Extraterritorial application
3. Processing of personal information
4. Rights of the data subject;
exceptions/non-applicability
5. Duties and responsibilities of
personal information controller
4 VIII. CREDIT TRANSACTIONS Kelvin J. Culajara, CPA, JD
A. PERSONAL PROPERTY SECURITIES
ACT
1. Definitions and scope
2. Asset-specific rules
3. Perfection of security
interest
4. Registration
5. Priority of security
interests
6. Tangible assets;
intangible assets
7. Enforcement of
security interests

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 8. Prior interests and the
transitional period
B. REAL ESTATE MORTGAGE LAW
1. Definition and
characteristics
2. Essential requisites
C. GUARANTY
1. Nature and extent of
guaranty
2. Effects of guaranty
3. Extinguishment of
guaranty
4. Legal and judicial bonds
D. SURETYSHIP
1. Concept
2. Form of surety
3. Obligations secured
4. Surety distinguished
from standby letter of
credit
5. Surety distinguished
from guaranty
6. Surety distinguished
from joint and solidary
obligations
E. LETTER OF CREDIT
1. Definition and purpose
2. Kinds of letters of credit
3. Rule of strict
compliance
4. Independence principle
IX. OTHER RELEVANT SPECIAL LAWS
A. REPUBLIC ACT NO. 3591, AS
AMENDED (OTHERWISE KNOWN
AS “THE PDIC LAW”)
1. Insurable deposits
2. Maximum liability
3. Requirements for claims

B. REPUBLIC ACT NO. 1405, AS

AMENDED (OTHERWISE KNOWN
AS “SECRECY OF BANK DEPOSITS
LAW”)
1. Purpose of the law

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 2. Prohibited acts
3. Deposits covered
4. Exceptions
5. Garnishment of deposits
including foreign deposits
5 X. LAW ON PARTNERSHIPS Kelvin J. Culajara, CPA,
A. General provisions JD/Adriel Earl A. Toribio, CPA
B. Rights and obligations of
partnership and partners
C. Dissolution and winding up
D. Limited Partnership
XI. REVISED CORPORATION CODE OF
THE PHILIPPINES
A. Definition of corporation
B. Classes of corporations
C. Nationality of corporations
D. Corporate juridical personality
E. Capital structure
F. Incorporation and organization
G. Corporate powers
H. Stockholders and members
I. Board of directors and trustees
6 J. Capital affairs Kelvin J. Culajara, CPA, JD
K. Dissolution and liquidation
L. Other corporations
M. Merger and consolidation
N. Investigations, offenses, and
penalties
O. Corporate Governance
7 XII. REPUBLIC ACT NO. 8799, AS Adriel Earl A. Toribio, CPA
AMENDED (OTHERWISE KNOWN AS
“THE SECURITIES REGULATIONS
CODE”)
A. State policy
B. Definition of securities
C. Kinds of securities
D. Powers and functions of the
Securities and Exchange
Commission
E. Procedure for registration of
securities
F. Prohibitions on fraud,
manipulation, and insider trading
G. Protection of shareholder
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 interests
H. Securities Regulation Code (SRC)
Rule 68
I. SEC Issuances (i.e. memo
circulars and opinions)
8 XIII. REPUBLIC ACT NO. 10667 Kelvin J. Culajara, CPA, JD
(OTHERWISE KNOWN AS “THE
PHILIPPINE COMPETITION LAW”)
A. Definitions and scope of
application
B. Power and functions of the
Philippine Competition
Commission
C. Prohibited acts
D. Covered transactions
E. Determining the relevant market
F. Determining control or
dominance of market
G. Determining existence of anti-
competitive conduct
H. Forbearance by the Philippine
Competition Commission
XIV. COOPERATIVE CODE OF THE
PHILIPPINES
A. Organization and registration of
cooperatives
B. Administration
C. Responsibilities, rights, and
privileges of cooperatives
D. Membership
E. Capital, property of funds
F. Audit, inquiry and members’ right
to examine
G. Allocation and distribution of
funds
H. Types and categories of
cooperatives
I. Merger and consolidation of
cooperatives
J. Dissolution of cooperatives
9 XV. FINANCIAL REHABILITATION AND Adriel Earl A. Toribio, CPA
INSOLVENCY ACT OF 2010
A. Definition of insolvency
B. Suspension of payments
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 C. Rehabilitation
D. Liquidation
10 XVI. LABOR STANDARDS Adriel Earl A. Toribio, CPA
A. LABOR STANDARDS
1. Basic pay
2. Overtime premium
3. Night shift differential
4. Holiday premium
5. 13th month pay
6. Leaves
7. Service incentive leave
8. Maternity leave
9. Paternity leave
10. Parental leave for solo parent
B. SOCIAL SECURITY LAW
1. Definitions
2. Scope and coverage
3. Pension, retirement, and
other benefits
4. Exemptions from tax, legal
process and lien
5. Employee’s and employer’s
contributions
6. Contributions from self-
employed member
7. Remittance of contributions
8. Method of collection and
payment
9. Employment records and
reports
10. Penal clauses
11 XVII. GOVERNMENT TRANSACTIONS Kelvin J. Culajara, CPA, JD
A. GOVERNMENT PROCUREMENT
LAW
1. General principles
2. Scope and application
3. Definition of terms
4. Procurement procedures
5. Disclosure of relations
6. Alternative methods of
procurement
B. EASE OF DOING BUSINESS AND
EFFICIENT DELIVERY OF
GOVERNMENT SERVICE DELIVERY
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 ACT
1. Policy, construction and
interpretation
2. Definition of terms
3. Coverage and scope
4. Reengineering of systems
and procedures
5. Citizen’s charter
6. Accessing government
services
7. Streamlined procedures
for the issuances of
permits and licenses
8. Violations, jurisdiction,
penalties, and immunity

12 XVIII. INSURANCE CODE OF THE Kelvin J. Culajara, CPA, JD

PHILIPPINES
A. Concept of insurance
B. Elements of an insurance
contract
C. Characteristics and nature of
insurance contracts
D. Classes
E. Variable contracts
F. Insurable interest
G. Perfection of the contract of
insurance
H. Rescission of insurance contracts
I. Claims and settlement and
subrogation
J. Business of insurance;
requirements
K. Insurance Commissioner and its
powers
XIX. ANTI-MONEY LAUNDERING ACT
A. Policy of the law
B. Covered institutions and their
obligations
C. Covered and suspicious
transactions
D. Money laundering; how
committed; unlawful activities or
predicate crimes

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 E. Anti-Money Laundering Council;
functions
F. Safe harbor provision
G. Application for freeze orders
H. Authority to inquire into bank
deposits

Nothing follows.