TABLE OF SPECIFICATION FOR

REGULATORY FRAMEWORK OF BUSINESS TRANSACTIONS

Effective May 2019
OUTCOMES (COURSE/CONTENT TOPIC) No. of
Weight
The examinees must be able to: Items
1.0 LAW ON BUSINESS TRANSACTIONS
1.1 OBLIGATIONS 10% 10
1.1.1 Explain the sources and their concepts
1.1.2 Identify kinds of obligations
1.1.3 Explain the specific circumstances affecting

obligations

w
1.1.4 Explain the duties of obligor
1.1.5 Enumerate and explain the extinguishment of obligations

ie
1.2 CONTRACT 10% 10
1.2.1 Explain the concepts and classification
1.2.2 Describe the elements and stages

ev
1.2.3 Differentiate freedom from contract and limitation
1.2.4 Identify the persons bound
1.2.5 Explain consent and its requisites
R
1.2.6 Describe the object and cause of contracts
1.2.7 Enumerate and explain the consideration

and formalities of contracts

PA

1.2.8 Explain reformation and interpretation of contracts

1.2.9. Identify, explain and differentiate defective contracts
1.3 SALES 7% 7
1.3.1 Explain the nature, forms and requisites
C

1.3.2 Distinguish earnest money from option money

1.3.3 Explain the rights/obligations ofd vendor and vendee

1.3.4 Describe warranties in relation to consumer laws
EO

1.3.5 Explain installment sales, rights and remedies of parties

2.0 LAW ON CREDIT TRANSACTIONS
2.1 PLEDGE, REAL MORTGAGE AND CHATTEL MORTGAGE 4% 4
2.1.1 Explain the nature requisites
R

2.1.2 Describe the requirements to bind the parties and third persons
2.1.3 Identify the obligations and rights of pledgor and pledgee
2.1.4 Identify the obligations and rights of mortgagor and mortgagee effect of
partum commissorium
2.1.5. Describe the modes of exisitinguishment
3.0 NEGOTIABLE INSTRUMENTS & BOUNCING CHECK LAW
3.1 NEGOTIABLE INSTRUEMENTS
3.1.1 Negotiability of Instruments
3.1.2 Abnormal negotiable instruments
3.1.3 Incomplete but delivered instruments
 3.1.4 Incomplete and undelivered instruments
3.1.5 Complete but undelivered instruments
3.1.6 Instruments with forge signature
3.2 BOUNCING CHECKS 2% 2
3.2.1 Describe checks without insufficient funds
3.2.2 Identify the Evidence of knowledge of insufficient funds
3.2.3 Explain the duty of drawable
3.2.4 Explain Credit Construed
4.0 LAWS ON BUSINESS ORGANIZATIONS 10% 10
4.1 PARTNERSHIP
4.1.1 Distinguish the nature from corporation

w
4.1.2 Describe the elements and kinds
4.1.3 Explain the formalities required

ie
4.1.4 Identify the rules of management
4.1.5 Explain the distribution of profits and losses

ev
4.1.6 Explain the sharing of losses and liabilities
4.1.7Decribe the modes and retirement requirements
4.1.8 Explain limited partnership
4.2 CORPORATIONS 28% 28
R
4.2.1 Describe the nature and classes of corporation
4.2.2 Describe the incorporation and organization of Private Corporation
4.2.3 Enumerate the powers of a corporation
PA

4.2.4 Identify the Board of Directors/Corporate Officers

4.2.5 Distinguish the classes of stocks
4.2.6 Describe the powers, duties, rights and obligations of stockholders
4.2.7 Distinguish majority and minority control
C

4.2.8 Describe the By-Laws

4.2.9 Explain the meetings
4.2.10 Explain corporate reorganization
EO

4.2.11 Describe non-stock corporation

4.2.12. Explain the modes of dissolution and liquidation
4.2.13 Identify foreign corporations
4.2.14. Explain the rights of foreign corporations
4.2.15 Explain the suspension and revocation of license
R

4.2.16 Explain the kinds and availability of books

4.2.17 Explain and apply provisions of SRC
4.2.18 Apply Corporate Governance
4.2.19 Apply the provisions of SRC Rule 68
4.2.20 Apply SEC Circulars and Issuances
4.3 COOPERATIVES 10% 10
4.3.1 Describe Organization and Registration of Cooperatives
4.3.2 Explain Administration
4.3.3 Describe the responsibilities, Rights and Privileges of Cooperatives
 4.3.4 Explain membership, rights and obligations
4.3.5 Explain Capital Property of Funds
4.3.6 Explain Audit, Inquiry and Members' Right to Examine
4.3.7 Describe Allocation and Distribution of Funds
4.3.8 Enumerate the Types and Categories of Cooperatives
4.3.9 Explain merger and consolidation of Cooperatives
4.3.10 Explain dissolution of cooperatives
5.0 LAWS ON OTHER BUSINESS TRANSACTIONS
5.1 PDIC LAW 2% 2
5.1.1 Explain Insurable Deposits

w
5.1.2 Explain Maximum liability
5.1.3 Enumerate the requirements of claims
5.2 SECRECY OF BANK DEPOSITS AND UNCLAIMED BALANCES LAW 2% 2

ie
5.2.1 Explain the secrecy of bank deposits
5.2.2 Explain Unclaimed Balances

ev
5.3 AMLA LAW 5% 5
5.3.1. Describe definition of terms
5.3.2. Enumerate unlawful activities
5.3.3 Identify covered institutions /persons and covered transactions
R
5.3.4. Distinguish suspicious transactions from covered transactions
5.3.5. Enumerate the record keeping requirements
5.3.6 Explain and enumerate the powers of AMLC
PA

5.3.7 Enumerate the reporting requirements

5.4 INTELLECTUAL PROPERTY LAW (EXCEPT PROVISIONS UNDER
C

PART 1 (INTELLECTUAL PROPERTY OFFICE) 2% 2

5.4.1. Explain the law on patents
5.4.2. Explain the law on trademark, service marks and trade names
EO

5.4.3 Explain the law on copyright

5.5 DATA PRIVACY ACT 2% 2
5.5.1. Explain the general provisions and powers of the National Privacy
Commission
5.5.2. Explain the processing and security of personal information
R

5.5.3. Explain and enumerate the rights of the data subject

5.5.4. Describe the accountability for transfer of information
5.5.5. Identify the security of sensitive information in government
5.5.6 Describe the penalties for violation of the law
5.6 ELECTRONIC COMMERCE ACT 1% 1
5.6.1. Explain the general provisions
5.6.2. Describe the legal recognition and communications of electronic data
messages and electronic documents
5.6.3. Describe the electronic commerce in carriage of goods and electronic
transactions in government
5.7 EASE OF DOING BUSINESS LAW 1% 1
5.7.1. Describe the coverage and definition of terms
5.7.2. Identify and apply the procedure in accessing government services and
automatic approval or extension of permits and licenses
5.7.3. Understand and describe the different Streamline Procedures for the issuance
of local business license and permit
TOTAL 100 100

w
ie
ev
R
PA
C
EO
R