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RFBT · Introductory

RFBT — Regulatory Framework for Business Transactions

Obligations and contracts, the law on sales, and the Revised Corporation Code.

Instructor: Lexa, The Lawkeeper EKII AI Faculty

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RFBT

Course content

8 modules · 258 lessons

1.Law on Business Transactions 53 lessons

1.1 Obligations
1.1.1 Definition
1.1.2 Sources of obligations
1.1.2.1 Law
1.1.2.2 Contracts
1.1.2.3 Quasi-contracts
1.1.2.4 Delicts
1.1.2.5 Quasi-delicts
1.1.3 Kinds of obligations
1.1.3.1 Pure / Conditional / with a Term
1.1.3.2 Solidary / Joint
1.1.3.3 Alternative / Facultative
1.1.3.4 Divisible / Indivisible
1.1.3.5 With a Penal Clause
1.1.4 Circumstances affecting obligations
1.1.4.1 Fortuitous events
1.1.4.2 Fraud
1.1.4.3 Negligence
1.1.4.4 Delay
1.1.4.5 Breach of contract
1.1.5 Nature and effects of obligations
1.1.6 Extinguishment of obligations
1.1.6.1 Payment / performance
1.1.6.2 Special forms of payment
1.1.6.3 Loss, condonation, confusion, compensation, novation
1.2 Contracts
1.2.1 General provisions
1.2.2 Essential requisites
1.2.2.1 Consent
1.2.2.2 Object
1.2.2.3 Cause
1.2.3 Forms of contracts
1.2.4 Reformation of instruments
1.2.5 Interpretation of contracts
1.2.6 Defective contracts
1.2.6.1 Rescissible
1.2.6.2 Voidable
1.2.6.3 Unenforceable
1.2.6.4 Void and inexistent
1.3 Sales
1.3.1 Nature, forms, and requisites
1.3.2 Earnest money vs option money
1.3.3 Rights/obligations of vendor and vendee
1.3.4 Warranties
1.3.5 Installment sales (Recto, Maceda, PD 957)
1.3.6 Extinguishment (conventional redemption)
1.3.7 Legal redemption
1.4 Credit Transactions
1.4.1 Pledge, Real Mortgage, Chattel Mortgage
1.4.2 Requirements to bind parties and third persons
1.4.3 Rights/obligations of pledgor and pledgee
1.4.4 Rights/obligations of mortgagor and mortgagee
1.4.5 Modes of extinguishment
End-of-module quiz

2.Bouncing Checks (BP 22) 2 lessons

2.1 Requisites to be liable under BP 22
2.2 Comparison with Estafa
End-of-module quiz

3.Consumer Protection 5 lessons

3.1 Consumer product quality and safety
3.2 Deceptive sales acts and practices
3.3 Product service and warranty
3.4 Labelling and packaging
3.5 Consumer rights (Price Tag Act, Lemon Law)
End-of-module quiz

4.Financial Rehabilitation and Insolvency 4 lessons

4.1 Definition of terms
4.2 Suspension of payments
4.3 Rehabilitation
4.4 Liquidation
End-of-module quiz

5.Philippine Competition Act 3 lessons

5.1 Definition and scope
5.2 Prohibited acts
5.3 Covered transactions
End-of-module quiz

6.Government Procurement Law 4 lessons

6.1 General principles
6.2 Scope and application
6.3 Procurement procedures
6.4 Alternative methods of procurement
End-of-module quiz

7.Law on Business Organization 119 lessons

7.1 Partnerships
7.1.1 Nature and distinction from corporation
7.1.2 Kinds of partnerships
7.1.3 Formalities required
7.1.4 Rules of management
7.1.5 Obligations of partners
7.1.6 Rights of a partner
7.1.7 Sharing of profits and losses
7.1.8 Dissolution and winding up
7.1.9 Limited partnership
7.2 Corporations (Revised Corporation Code)
7.2.1 Definition of corporation
7.2.2 Classes of corporations
7.2.3 Nationality of corporations
7.2.3.1 Control test
7.2.3.2 Grandfather rule
7.2.4 Corporate juridical personality
7.2.4.1 Separate juridical personality
7.2.4.2 Piercing the corporate veil
7.2.5 Capital structure
7.2.5.1 Number and qualifications of incorporators
7.2.5.2 Subscription requirements
7.2.5.3 Corporate term
7.2.5.4 Classification of shares
7.2.6 Incorporation and organization
7.2.6.1 Promoter
7.2.6.2 Subscription contract
7.2.6.3 Pre-incorporation subscription
7.2.6.4 Consideration for stocks
7.2.6.5 Articles of Incorporation
7.2.6.6 Corporate name
7.2.6.7 Registration and commencement of existence
7.2.6.8 Election of directors/trustees
7.2.6.9 Adoption of by-laws
7.2.6.10 Effects of non-use of charter
7.2.7 Corporate powers
7.2.7.1 General powers
7.2.7.2 Specific powers
7.2.7.3 Ultra vires acts
7.2.7.4 Trust fund doctrine
7.2.8 Stockholders and members
7.2.8.1 Fundamental rights
7.2.8.2 Participation in management
7.2.8.2.1 Proxy
7.2.8.2.2 Voting trust
7.2.8.2.3 Cases requiring stockholders' action
7.2.8.2.4 Manner of voting
7.2.8.3 Proprietary rights
7.2.8.3.1 Appraisal right
7.2.8.3.2 Right to inspect
7.2.8.3.3 Preemptive right
7.2.8.3.4 Right to vote
7.2.8.3.5 Right to dividends
7.2.8.4 Remedial rights
7.2.8.4.1 Individual suit
7.2.8.4.2 Representative suit
7.2.8.4.3 Derivative suit
7.2.8.5 Obligations of a stockholder
7.2.8.6 Meetings
7.2.9 Board of directors and trustees
7.2.9.1 Repository of corporate powers
7.2.9.2 Tenure, qualifications, disqualifications
7.2.9.3 Corporations vested with public interest
7.2.9.4 Independent directors
7.2.9.5 Elections
7.2.9.6 Removal
7.2.9.7 Filling of vacancies
7.2.9.8 Compensation
7.2.9.9 Disloyalty
7.2.9.9.1 Business judgment rule
7.2.9.9.2 Solidary liabilities for damages
7.2.9.10 Personal liabilities
7.2.9.11 Responsibility for crimes
7.2.9.12 Special fact doctrine
7.2.9.13 Inside information
7.2.9.14 Contracts and interlocking directors
7.2.9.15 Executive and special committees
7.2.9.16 Meetings
7.2.10 Capital affairs
7.2.10.1 Certificate of stock
7.2.10.2 Watered stocks
7.2.10.3 Payment of balance of subscription
7.2.10.4 Sale of delinquent shares
7.2.10.5 Alienation of shares
7.2.10.6 Corporate books and records
7.2.11 Dissolution and liquidation
7.2.12 Other corporations
7.2.12.1 Non-stock corporations
7.2.12.2 Educational corporations
7.2.12.3 Religious corporations
7.2.12.4 One person corporations
7.2.12.5 Foreign corporations
7.2.13 Merger and consolidation
7.2.14 Investigations, offenses, and penalties
7.2.15 Corporate governance (PLCs, public companies)
7.2.16 Securities
7.2.17 Securities Regulation Code (SRC) Rule 68
7.2.18 SEC issuances
7.3 Insurance
7.3.1 Concept of insurance
7.3.2 Elements of an insurance contract
7.3.3 Characteristics and nature
7.3.4 Classes
7.3.5 Variable contracts
7.3.6 Insurable interest
7.3.7 Perfection of the contract
7.3.8 Rescission of insurance contracts
7.3.9 Claims settlement and subrogation
7.4 Cooperatives
7.4.1 Organization and registration
7.4.2 Administration
7.4.3 Responsibilities, rights and privileges
7.4.4 Membership
7.4.5 Capital, property and funds
7.4.6 Audit, inquiry and members' right to examine
7.4.7 Allocation and distribution of funds
7.4.8 Types and categories
7.4.9 Merger and consolidation
7.4.10 Dissolution
End-of-module quiz

8.Law on Other Business Transactions 68 lessons

8.1 PDIC Law
8.1.1 Insurable deposits
8.1.2 Maximum liability
8.1.3 Requirements for claims
8.2 Secrecy of Bank Deposits
8.2.1 Purpose
8.2.2 Prohibited acts
8.2.3 Deposits covered
8.2.4 Exceptions
8.2.5 Garnishment of deposits
8.3 Truth in Lending Act
8.3.1 Purpose
8.3.2 Obligation of creditors
8.3.3 Covered and excluded transactions
8.3.4 Consequences of non-compliance
8.4 Anti-Money Laundering Act (AMLA)
8.4.1 Purpose, policies, principles
8.4.2 Definition of terms
8.4.3 Unlawful activities
8.4.4 Covered persons
8.4.5 Money laundering, terrorism financing, asset forfeiture
8.4.6 Preventive measures and obligations
8.4.7 Beneficial ownership
8.4.8 Record keeping requirements
8.4.9 Safe harbor
8.5 Intellectual Property Law
8.5.1 Patents
8.5.2 Trademarks, service marks, trade names
8.5.3 Copyright
8.6 Data Privacy Act
8.6.1 Definitions
8.6.2 Scope of application
8.6.3 Data privacy principles
8.6.4 Processing of personal data
8.6.5 Security measures
8.6.6 Rights of data subject
8.6.7 Data breach notification
8.6.8 Outsourcing and subcontracting
8.6.9 Registration and compliance
8.7 Electronic Commerce Act
8.7.1 Principles
8.7.2 Application
8.7.3 Definition of terms
8.7.4 Legal recognition of electronic documents
8.7.5 E-commerce in carriage of goods
8.7.6 Electronic transactions in government
8.8 Ease of Doing Business Act
8.8.1 Policy and interpretation
8.8.2 Definition of terms
8.8.3 Coverage and scope
8.8.4 Reengineering of systems
8.8.5 Citizen's charter
8.8.6 Accessing government services
8.8.7 Streamlined permits and licenses
8.8.8 Violations, penalties and immunity
8.9 Labor Law
8.9.1 Labor standards (pay, premiums, leaves)
8.10 Social Security Law
8.10.1 Definitions
8.10.2 Scope and coverage
8.10.3 Pension, retirement and benefits
8.10.4 Exemptions
8.10.5 Employee and employer contributions
8.10.6 Self-employed contributions
8.10.7 Remittance of contributions
8.10.8 Method of collection and payment
8.10.9 Employment records and reports
8.10.10 Penal clauses
End-of-module quiz

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This course includes

8 modules
258 lessons
Subject: Regulatory Framework for Business Transactions
Level: Introductory
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