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
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: 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
FACTS: Teofilo Po as an incorporator subscribed to eighty shares of Peers Marketing Corporation. Po paid two thousand pesos or twenty-five percent of the amount of his subscription. No certificate of stock was issued to him or, for that matter, to any incorporator, subscriber or stockholder. Po sold to Ricardo A. Nava for two thousand… Read More NAVA vs. PEERS MARKETING CORP., 74 SCRA 65 G.R. No. L-28120 November 25, 1976 Shares of Stock, Stock Certificate, Stock Subscription, Transfer of its Shares of Stock