FINAL EXAMINATION ON REGULATORY

FRAMEWORK AND LEGAL ISSUES IN BUSINESS

Atty. Noli del Rosario
Sunday, October 17, 2021
Deadline: 5:00 pm

Please type your answers (single space, Times New Roman or Arial with 10 font, maximum of
2 pages). Answer the questions directly and as concisely as you can. Place your name on all
pages of your answer sheets. No need to copy the questions on your answer sheet. When you
are asked to give an example, do not use the examples we used or discussed in class. Submit
your answers though CANVAS before the 5:00 pm deadline. Please make sure you are
submitting the right attachment file. You can submit only once. Second or third submissions
will not be considered. Answers submitted after the 5:00 pm deadline will not be given any
credit. GOOD LUCK!

1. Differentiate between a Trademark, Patent and Copyright. Give an example of a real

Philippine trademark. (10 points)

2. What do you mean by the following concepts / principles? Give an example of each. Do
not use examples used in class. (5 points each)

a. Holder in Due Course

b. Liquidation Plan
c. Escheat Proceedings
d. Fair Use Policy
e. Insolvency

3. What are the essential elements of a negotiable instrument? Draft or write a promissory
note containing all the essential elements that will qualify it as a negotiable instrument.
(10 points)

4. Ramon is a professional beggar. For the last 15 years he stations himself outside Quiapo
church in Manila and pretends to be crippled and blind and sells sampaguita to
churchgoers and other visitors. Over the last 15 years he amassed more than P550,000
that he kept in his small house in the squatters area in Tondo. One night, he dreamt that
robbers had entered his house and stole all his money. So the next day, Ramon went to a
BPI branch to open a checking account. The branch manager flagged the transaction as a
possible case of money laundering.

a. What do we mean by money laundering? (5 points)

b. Give a concrete example of money laundering and list down the step-by-step process
flow from the time the dirty money is generated until the time it is laundered. (10 points)

c. Is Ramon guilty of money laundering? Why or why not? (5 points)

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 5. What is the reason why we have the Bank Secrecy Law (Republic Act No. 1405)? Give
an example where the Bank Secrecy Law does not apply. (10 points)

6. Dokito owes Pedrito P85,000 payable on October 15, 2021.

a. On the October 15, 2021, Dokito goes to Pedrito to give him a personal check for
P85,000. Dokito wants to give Pedrito a personal check for P85,000 as payment for the
loan because it is a negotiable instrument. Is Dokito correct? Who or why not? (5 points)

b. Pedrito accepts the personal check of Dokito for P85,000 as payment for the loan but
when the check was presented for payment on October 25, 2021 the check was
dishonored. What are the legal steps that Pedrito can take to get his money back and to
hold Dokito liable (5 points)

c. Why does the law hold a person who issued a bounced check criminally liable? What is
the reason behind this law? (5 points)

7. Jocelyn wrote a song entitled “Ang Buhay Ko ay Ikaw” and had it copyrighted with the
National Library on September 5, 2021. Until when is her copyright over the song valid?
(5 points)

8. Which of the following is NOT punishable under BP 22 and why :

a. drawing a check that is with insufficient funds;

b. drawing a check with sufficient funds but failing to keep sufficient funds within 90
days from the date of the check;
c. drawing a check with sufficient funds but the drawer ordered the bank to stop payment
for no valid reason and therefore the check was dishonored;
d. drawing a check using an account that was already closed;
e. All of the above
e. None of the above. (5 points)

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