GOD BLESS YOUR MIND AND HEART!

MERCANTILE LAW

a. Marcos intends to put up his Happy Chicken business. He then started

posting on Facebook his “soon to open” business.
a. Is Marcos already classified as “habitually engaged in business”?
b. Does Marcos now have the legal duty to secure local business permits”?
b. BPI has prepared contract for its clients on safety deposit box. In one of
the provisions of the contract, BPI is exculpated from all liabilities arising
either from force majeure or fortuitous events. Marcos deposited his
diamonds with BPI and after typhoon Maring, his precious treasures got
lost with the raging floods; hence he demanded payment for the loss
diamonds from the bank. BPI argued that the contract between them
prevails and Marcos is bound by it. Can the bank refuse payment of the
diamonds based on the contract signed between them?
c. Oliver purchased a life insurance with AXA for 25M. His beneficiary is his
same sex partner, Walter, who he has been living with for 10 years prior
to the insurance purchase. Oliver died, but the police investigation
shows that Walter is the suspect. Walter, however, claimed the
insurance proceeds from AXA which denies the claim reasoning that
Walter has forfeited his interest being the suspect on the insured' death.
(A) is AXA correct? (B) Can AXA deny all claimants to the proceeds of the
insurance policy?
d. If a company is placed under receivership,
a. What is the effect if the officers enter into an agreement with a financial
institution to help revive the finances of the company?
b. If by the agreement asked above, the company was able to get back to
business and benefited by incurring better profits, what is the effect on
the stockholders?
d. May the Ombudsman order the inspection of the bank record of Duterte
who is now facing investigation before it (Office of the Ombudsman)?
e. What is a derivative suit? Where is it filed?
f. Distinguish intra-corporate from inter-corporate dispute?
g. Marcos has subscribed 1000 shares of stocks with SMC but has paid only
80% of the total value. He demands that he be issued the certificate of
stocks, but SMC refused. Is the act of SMC correct?
h. Who is a holder in due course?
i. Marcos issued a check payable to order in the amount of 1million pesos.
The payee is his lawyer friend, Pura. The payee's name written on the
check is Mrs. Antonio Sagrado, not Pura Sagrado. Is the check
negotiable?
j. What is the effect of a forged signature when the check is payable to
order?
k. Marcos issued a check to Pura in the amount of Php5M. The date of the
check is conditioned on the date of the graduation day from college of
Marcos' oldest child. May the drawee bank, BPI, be compelled to encase
the check?
l. BPI is the mortgagee bank over a house and lot mortgaged by Marcos.
Should Marcos default in payment of the mortgage, as a counsel for BPI
what are your remedies?
m. When is an insurance contract perfected?
n. FEU-Manila terminated the employment of some 50 Faculty members.
The latter filed a case of illegal dismissal which yielded to their winning
the case until appeal before the Supreme Court. The award was
reinstatement. But when the faculty members enforce the court
judgement of reinstatement FEU-Manila has closed down business
which prompted them to enforce the execution for reinstatement
before FEU-Cavite. FEU-Cavite refused to heed the order for
reinstatement saying that FEU-Manila has closed business. Can FEU-
Cavite refuse to reinstate them?