Professional Documents
Culture Documents
Dimaampao Comm Special Lecture
Dimaampao Comm Special Lecture
AMLA R restore
Voluntary - file for extension; shorten the The general rule is that the DWEE bank is
corporate term liable on a forged check because the
DWEE bank has the specific signatures,
Involuntary: unless the DWR is negligent.
(LIFE)
In this case, the DWEE is liable as there
L - legislative dissolution was no showing of Samsungs negligence.
NB:
Bearer Instrument
Payee may be a HIDC
bearer
Acceptor can never be a HIDC.
Possessor
Holder
Rights of a HIDC (S51, S57)
(SCED)
A bearer instrument is always a bearer Sue
instrument even if it is specially indorsed.
Collect
Sec. 40
Enforce payment of the full amount
Q: Promissory note payable to Bearer BR
Hold the instrument free from personal
specifically indorsed it to A
defenses
Can A negotiate it to B by delivery?
Absence of consideration
O - it may ne negotiated only ONCE to a
person with an account in the bank.
Forged signature
Q: Is a holder of a CC, considered a HIDC?
Incomplete AND undelivered
A: Inquiry must be made into the title of the
indorser of the check. Failure to make an Lack of authority on the part of an agent
inquiry amounts to bad faith, and therefore
negates being a HIDC. Insanity
Premiums
Sec. 48 - Sunlife of Canada vs. Sibya
CASH AND CARRY RULE - pay the
As IER, the company can assail the policy, premiums, claim the funds
provided the IED is still alive.
Exceptions (ALICE) - S77
NB: During the lifetime.
Acknowledgement
Life insurance
Here, the IED did not disclose her kidney
Industrial life
problems, and died 3 days thereafter.
Credit extension of not more than 90d
Estoppel
SC: There is fraud. But the IER cannot
assail the policy because it must be made
during the lifetime of the IED.
Insurable Interest
(Sir has a slightly different opinion about
this, but this is the rule we follow) Insurable interest in life - must exist at the
time of effectivity of the life insurance.
E - estate
CASE:
DI - different IERS, same risk insured, GR: If there is a SC, in all cases, there must
same IED be recovery.
No insurance clause
Sane
MARINE INSURANCE Contested
(PLACARDD)
Proper deviation (SWAN)
P - powers of the BSP (exercised through
S - to save human lives or a vessel in the MB. It has the power to appt a
distress conservator (1 year) or a receiver (90
days)).
W - comply with warranty
A - avoid peril
L - legal relationship (debtor-creditor) -
N - neither the master or owner has control safety deposit box (bailor-bailee)
over such deviation
Constructive Loss
A - apparent authority
More than 3/4 of the value has been lost
C - close now, hear later scheme (applies in
There has to be an abandonment that is receivership) - cannot be interfered with by
unconditional. courts, unless there is grave abuse
(ONAA) A - account (DOSRI)
R - redemption Instances when the common carrier is not
liable:
D - deposit substitutes
(PONDO)
BDO vs. RP - public - borrowing of funds
from 20 or more individual or corporate P - public enemy
lenders
O - act of the owner
D - highest degree of diligence
N - natural calamity
B - bribery
Extraordinary Diligence; when observed.
A - anti graft
Beginning: reasonable opportunity to
L - subject of litigation board
W - written waiver
C - contract
R reporting requirements imposed on
covered institutions as to the suspicious
accounts Affreightment Chartered Party - still a
common carrier. The owner has not
T Ten (10) years dormant
surrendered the management and control.
C - compromise in tax cases
TRANSPORTATION
Determination of liability of common I - independence principle (seller is assured
carriers of payment; banks deal only with the
documents; banks are under no duty to
Limited liability the liability of the owner of ascertain the condition or quality of the
the vessel is co-extensive with the value of goods)
the vessel, equipment, and freight (except
workmens compensation claims, insured F - fraud exception principle fraud as an
vessel, negligence, death, repairs, and exception to the independence principle
injury)
S - strict compliance rule compliance with
documentary requirements
O - file within 1 year from the delivery or TESTS OF REPUTABILITY (AM No. 10-3-
from the date it should have been delivered 10) Whether a mark is well-known.
(CRITERIA)
I - image
S - filed by the shipper or consignee T - trade share
LETTER OF CREDIT
(IFS)
TESTS OF RELATEDNESS E - doctrine of equivalence (AIMM -
(CCP-BANK) appropriation of a prior invention; through
the incorporation of innovative mark;
through the same means and functions)
C - class of products to which the goods
belong D Dilution theory trademarks are
infringed in cases where it is confusingly
C - channel of market similar with other marks, it causes damage,
P - purpose and it misleads the public.
B - business SRC
S - based on scheme
Unfair competition - passing off of ones
goods as his own; intent to defraud; may
involve different kinds of goods; registration TENDER OFFER RULE
no required
Intent to acquire shares in a public
company
Pre-disclosure doctrine - once you
disclose, the matter becomes accessible
and open to all. Exempt Securities and Exempt
Transactions
Holistic Test - entirety
SECURITIES (GRAB)
Dominance Test - prevalent features
TRANSACTIONS (UBER LEO BPI )
(GRAB)
(FED)
G - those issued by the government
F - fair use principle
Generally, there are no copyrights involved A - issued by any country with which we
in comments, criticisms, and news reports. have diplomatic relations
B - bank securities
(UBER)
U - unpaid subscription
B - brokers transaction
B - bank transactions
I - isolated transactions
-END-