RED NOTES 2001-2002

MOST FREQUENTLY ASKED QUESTIONS

IN COMMERCIAL LAW
SUBJECTS

INCLUSIVE
YEARS

FREQUENCY

TOTAL

1994
1996
2000

III
I
I

1985
1989

I
II

1998
1995
2000
1995
2000
1995
1987
1995
1996
1981
1983
1984
1985

I
I
I
I
I
III
I
I
I
I
I
II
I

1980

1980
1980
1987
1986

I
I
I
I

1981
1986
1982
1985

I
I
I
I

1983
2000
1994
1997
1999
2000
1993

I
I
II
I
I
I
I

1988

1988
1993
1989

I
I
I

2
1

1989

TRANSPORTATION
Common Carrier
Breach of contract of
carriage
Bill of lading
- stipulation of limited
liability
Public Service Act
COGSA
Collision of vessels
Force majeure
Stipulation limiting
liability of carrier

Necessary deposits
Doctrine of last clear
chance
Private carrier
Prior operator rule
Liability for the goods
while in the custody of
the carrier
Hypothecary nature of
maritime law
Liability for negligence
of employees/captain
Limited Liability Rule

Transhipment
Admiralty and maritime
commerce
Liability of holder of
certificate of public
convenience
Bareboat charter
Liability of shipowner

COMMERCIAL LAW

2
1
1
3
3

2
1

2
2
2

5
1

RED NOTES 2001-2002

Liability for loss
Liability for death and
injury to passengers
General Average Loss
Doctrine of inscrutable
fault
NEGOTIABLE
INSTRUMENTS LAW
Section 1
Negotiability
Promissory Note
Alteration
Letter of Credit
Minority
Fraud
Accommodation Party
Liability of Drawee
Lack of Consideration
Endorsement
Notice of Dishonor
Non-negotiability of
postal money order
Letter of credit
Checks

Endorsement
Material alteration
Forgery

Incomplete and
undelivered Instrument
Dishonor of Checks
Holder in Due Course

COMMERCIAL LAW

1993
1997

I
I

1997
2000

I
I

1
1

1987
1997

I
I

1996
1997
2000
1980
1989
1993
1980
1998
2000
1995
1996
1993
1994
1998
1995
1998
1985
1995
1998
1986

I
I
1
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I

1994
1996
1994
1998
1984
1994
1996

I
I
I
I
I
II
I

1980
1981
1985
1994
1995
1996
1997
1982
1999
1983
1983
1984
1987
1997

I
I
I
III
I
I
I
I
I
I
I
I
I
I

1
1

1982
2000
1986
1997
1986
1994
1996

I
I
I
I
I
I
I

3
3
2
2
1
2
3
1
2
2
4

7
1
2

2
4
2

RED NOTES 2001-2002

Negotiability
of
promissory note
Minority as real defense
Liability
of
endorser
Liability
of
endorser
Concealment
INSURANCE
Fire Insurance

2000

1988

1989

1989

1989
1999

I
I

1
1

1994
1996
1998
1981
1994
1996
1982

II
I
I
I
II

1980
1982
1987
1994
1998

I
I
I
I
I

1986
1982
1982
1983
1983
1986

I
I
I
I
I
I

1
1
2

1983
1983
1983
1989
1982
1983
1982
1984
1987
1994
1995
1998
1994
1996
1997
1993
1994
1986
1994
1994
1994
1993
1983
1996
1998
2000
1985
1988

I
I
I
I
I
I
I
I
I
I
I
I
II
I
I

1
1

blank
special

Assignment
Third party Liability
Constructive Total Loss
Insurable Interest
Incontestability Clause
Warranty and
representation
Deviation
General average
Implied Warranty of
Seaworthiness
Compulsory Motor
Vehicle Law
Incontestability Clause
Concealment of material
fact
Jettison
Notice of abandonment
Life Insurance

Concealment
No-fault Indemnity
Authorized driver clause
Co-insurance
Re-insurance
Subrogation
Personal accident
Marine Insurance

Beneficiary

COMMERCIAL LAW

3
1
I

4
1

3
2

2
2
1

5
4
I

I
I
I
I
I
I
I
I
I
1
I
I

3
1
1
1
1
4
4
3

RED NOTES 2001-2002

Misconduct of insurance
agent
Theft clause
Incontestability clause

Total loss/lawful
abandonment
No fault indemnity
Proximate cause
Property insurance
Fire insurance

Double insurance
Group Accident
Insurance
Instances when an
insured entitled to a
return of the premium
WAREHOUSE
RECEIPTS
-

liability of warehouse
for employees
negligence
negotiation of receipt
liability for
misdelivery
negotiable document
of title
Negotiability
Deliverable to
depositary or to his
order, or to bearer

LIP
Trademark

2000

II

1988
1985
1988
1984
1988
1989

I
I
I
I
I
I

1988
1989
1989
1987
1984
1993
1997
1999
1999
2000

I
I
I
I
II
I
I
I
I
I

1
1
1
1

2000

1998
1999

I
I

1982

1983

1980

5
1
I

1986
1988
1989
2000

I
I
I
1

1982
1994

I
I

Infringement

1983
1980
1985
1987

I
I
I
I

unfair competition

1996
1994
1995
1988

I
II
I
I

Right to sue

1981
1984
1985

I
I
I

COMMERCIAL LAW

14
4

RED NOTES 2001-2002

Patent
- patentable works
Copyright
- infringement
Test of Dominancy
INSOLVENCY LAW
Insolvency

1981
1989
1998
1988
1989
1997
1996

I
I
I
I
I
I
I

1998
1995
1996
1988

II
II
I
I

4
1

decalration of
insolvency

1982
1981

I
I

assignment of credit

1980

suspension of
payment

1988

1997
1980
1983
1986
1994
1996

I
I
I
I
I
I

1999

1997
1999

I
I

1999
1982

I
I

1984

1997
1999
2000

I
I
1

2000

obligation of an
insolvent debtor
CHATTEL MORTGAGE
-

Registration
Foreclosure
non-registration
application to future
debts

BULK SALES LAW

-

11

violation
application to sale of
all or substantially all
of the assets of a
corporation

TRUTH IN LENDING
ACT
Compliance with RA
3765 (Truth in Lending
Act)

BANKING LAWS

COMMERCIAL LAW

RED NOTES 2001-2002

SUBJECTS

INCLUSIVE
YEARS
2000
2000

FREQUENCY

TOTAL

I
I

1
1

1994
1995
1994
1986
1994
1984
1985

I
I
I
I
I
I
II

1986

1986
1994
1981
1985
1994
1996
1984
1994
1999

I
I
I
I
I
I
I
I
I

1
1

1995
1995

I
I

1
1

1981
2000

I
I

1981
1987
1989
1995
1984
1985
1995
1998
1993
1981
1987
2000
1985
1987
1995
1987
1995

I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I

Personal Liability of
Directors, officers and
trustees
Investment of Corporate
Funds

1996

1996

Rights of Stockholder

1996

Refusal to register Stock

Certificate

1996

Alter Ego Doctrine

1996

Gen. Banking Act

Legal Tender
CORPORATION
Insider Trading
Anti-Dummy Law
De facto Corporation
Business opportunity
rule
going public/going
private
Corporation by estoppel
Unpaid Subscription
Intra-corporate
Controversy
Pre-emptive Right
Fact of special
Significance
Interlocking Directors
Dissolution of
Corporation vs.
Liquidation/Winding up
Dividends
- Declaration
- KINDS
Deadlock
Suspension of
Payments
Sale of all assets
By-laws
- amendment
Insolvency
Management Contracts

2
1
2
3

4
3

3
1

4
1
3
3
2

Separate & Distinct

COMMERCIAL LAW

RED NOTES 2001-2002

Personality

2000

II

SEC Jurisdiction

1996

Securities

1996

Moral Damages

1985
1998

I
I

Nationality

1998

doing business in the

Philippines

1998

Authorized Capital Stock

1998

Voting trust

1985

Foundations

1993

Derivative suit

1993

Dissenting Stockholder

1998

Right to Vote
- cumulative voting

1982
1998

I
I

Aliens elected as
directors

1982

1983
1985
1988

I
II
I

2000

Right of Inspection

Joint venture as
distingushed from
partnership

COMMERCIAL LAW

RED NOTES 2001-2002

SUBJECTS

INCLUSIVE
YEARS

FREQUENCY

TOTAL

1988
1988
1988
1988
1989

I
I
I
I
I

1
1
1

1988

1988

Sale of all or
substantially of all the
asseys of a corporation
Close corporation
Subscription contract
Trust fund doctrine
Extension of corporate
life
Revised securities act
- five features

kinds of securities

1988

over-the-counter
markets

1989

1989

1989

1989

1989
1999

I
I

1
1

1999

1999
1999
1999
1999

I
I
I
I

1
1
1
1

1997

1997

1997
1984
1985
1997

I
I
I
I

1980
1999

I
I

1981
1980
1988

I
I
I

TRUST RECEIPT LAW

1980
1997

I
I

- risk of loss
TRUTH IN LENDING
ACT

1982

1986

- exempt transactions
Unrestricted
retained
earnings
Certificate of registration
of articles of
incorporation
Rights and liabilities of
corporate officer
Capital
Order of suspension
(pd 902-a)
Common shares/
preferred shares
Appraisdal rights
Merger
Lost certificate of stock
Unpaid subscription vs.
insolvency of
corporation
Unpaid subscription of
directors
Three-year period after
dissolution
Shares of stock
Lost certificate of stock
USURY LAW

RETAIL TRADE LAW

- Anti-Dummy Law
- When applicable
- COVERAGE

2
1
2

COMMERCIAL LAW

RED NOTES 2001-2002

CODE OF COMMERCE
- ART. 586
- Theory of
Manifestation
BANKING
General banking act
Central bank act
Violation of building and
loan associations
Banking institutions
Receivership,
conservatorship,
liquidation
Secrecy of Bank
Deposits

Security for loan

Disclosure of deposits
Capital Stocks of
banking instruments
PDIC
Insolvency
WTO
REAL ESTATE
MORTGAGE
- vs. existing lease
agreement
- prior purchaser

COMMERCIAL LAW

1989

1997

1988
1988

I
I

1
1

1982
1982

I
I

1
1

1982
1983
1981
1980
1988
1989
1999
2000
1980
1980

I
I
I
I
I
I
I
1
I
I

1982
1997
2000
1997
1999

I
I
I
I
I

1
2

1999

1999

7
1
1

1
1