I. (A) Nadine has a checking account with Fair & Square Bank. One day, she lost her checkbook and the finder was able to forge her signature and encash the forged check. Will Nadine be able to recover the amount debited from her checking account from Fair & Square Bank? Justify your answer. (3%)… Read More 2015 Bar Exam Suggested Answers in Mercantile Law by the UP Law Complex
FACTS: The Office of Special Investigation (OSI) of the BSP transmitted a letter to the DOJ, which was attached with five affidavits, which would allegedly serve as bases for filing criminal charges for Estafa thru Falsification of Commercial Documents, in relation to PD No. 1689, and for Violation of Section 83 of RA 337, as… Read More Soriano v. People G.R. No. 162336 February 1, 2010 Banking Law, DOSRI
FACTS: On January 10, 2001, Atty. Jesus Sibya, Jr. applied for life insurance with Sun Life. In his Application for Insurance, he indicated that he had sought advice for kidney problems. Sun Life approved the application and issued Insurance Policy No. 031097335. The policy indicated the respondents as beneficiaries and entitles them to a death… Read More SUN LIFE v. MA. DAISY SIBYA G.R. No. 211212, June 08, 2016 Insurance, Concealment, Two-year Contestability Period
MERCANTILE LAW Briefly describe the following types of banks: (2% each) universal bank SUGGESTED ANSWER: A universal bank is a commercial bank with two additional powers, namely: (1) the power of an investment house and (2) the power to invest in non-allied enterprises (Section 23, Rep. Act No. 8791, “The General Banking Law of 2000”).… Read More Bar Exam 2010 Questions and Suggested Answers in MERCANTILE LAW by the UP Law Center
FACTS: Enrique Mora, owner of Oldsmobile sedan model 1956, mortgaged the same to the H.S. Reyes, Inc., with the condition that the former would insure the automobile with the latter as beneficiary. The automobile was thereafter insured with the State Bonding & Insurance Co., Inc., and motor car insurance policy was issued to Enrique Mora.… Read More BONIFACIO BROS., INC., ET AL. vs. ENRIQUE MORA, ET AL. G.R. No. L-20853 May 29, 1967 Insurance
FACTS: Petitioner Concept Builders, Inc., a domestic corporation, is engaged in the construction business. Private respondents were employed by said company as laborers, carpenters and riggers. Private respondents were served individual written notices of termination of employment by petitioner, stating that their contracts of employment had expired and the project in which they were hired… Read More CONCEPT BUILDERS, INC. v. NLRC G.R. No. 108734. May 29, 1996 Doctrine of Piercing the Veil of Corporate Fiction
FACTS: The respondent spouses are members in good standing of the Luz Village Tennis Club, Inc. (club). They alleged that petitioner Teodoro B. Vesagas, who claims to be the clubs duly elected president, in conspiracy with petitioner Wilfred D. Asis, who, in turn, claims to be its duly elected vice-president and legal counsel, summarily stripped… Read More VESAGAS v. CA G.R. No. 142924. December 5, 2001 Intra-corporate disputes, RTC Jurisdiction, SEC Jurisdiction, Non-joinder of parties
VILLANUEVA-CASTRO BAR REVIEW MATERIALS COMMERCIAL LAW Chan Robles Bar Review
53 FREQUENTLY ASKED IN CORPO CODE 53 FREQUENTLY ASKED PROVISIONS OF THE CORPORATION CODE Section 2. Corporation defined. – A corporation is an artificial being created by operation of law, having the right of succession and the powers, attributes and properties expressly authorized by law or incident to its existence. Section 43. Power to declare… Read More 53 FREQUENTLY ASKED PROVISIONS OF THE CORPORATION CODE
FACTS: Appellant’s husband, Engracio Orense, a resident of the municipality of Guinobatan, Province of Albay, died, leaving an estate. The deceased left a will, according to which six parcels of land were left to the Roman Catholic Church as trustee for various purposes, subject to a life estate in favor of the appellant who,… Read More In re estate of Engracio Orense, deceased. EUGENIA M. SANTOS, VIUDA DE ORENSE, vs. THE ROMAN CATHOLIC BISHOP OF NUEVA CACERES G.R. No. L-21289 April 5, 1924 45 Phil. 895