NEGOTIABLE INSTRUMENTS LAW

Course Outline on Special Laws

Atty. Maria Zarah R. Villanueva Castro
A.Y. 2017 - 2018
LETTERS OF CREDIT

1. Definition

2. Applicable Laws

3. Parties to a Letter of Credit

4. Transactions involved in a Letter or Credit

(See: Independence Principle; Fraud Exception Principle and Rule of Strict Compliance)

5. Types of Letters of Credit

a. Irrevocable Letter of Credit
b. Confirmed Letter of Credit
c. Standby Letter of Credit
d. Others

CASES:
1. Bank of the Philippine Islands v. De Reny Fabric Industries, Inc. G.R. No. L 24821
October 16, 1970
2. FEATI Bank & Trust Company v. Court of Appeals G.R. No. 94209
April 30, 1991
3. Transfield Philippines, Inc. v. Luzon Hydro Corp. G.R. No. 146717
November 22, 2004
4. MWSS v. Hon Daway G.R. No. 160732
June 21, 2004

TRUST RECEIPTS

1. Trust Receipt Transaction (Sec. 4, TRL)

2. Form of Trust Receipt (Sec. 5, TRL)

3. Parties to a Trust Receipt Transaction

4. Rights of the Entruster (Sec. 7, 8 & 12, TRL)

5. Obligations / Liabilities of the Entrustee (Sec. 9 & 10, TRL)

6. Rights of Purchaser (Sec. 11, TRL)

7. Penalties (Sec. 13, TRL)

CASES:
5. People v. Nitafan G.R. Nos. 81559 60
April 6, 1992
6. Rosario Textile Mills Corp., et al. v. Home Bankers Savings & Trust G.R. No. 137232
Co. June 29, 2005
 NEGOTIABLE INSTRUMENTS LAW
Course Outline on Special Laws
Atty. Maria Zarah R. Villanueva Castro
A.Y. 2017 - 2018
7. Landl Company v. Metrobank G.R. No. 159622
July 30, 2004
8. Vintola v. Insular Bank G.R. No. 73271
May 29, 1987
9. Pilipinas v. Ong G.R. No. 133176
August 8, 2002
10. Land Bank of the Philippines v. Lamberto C. Perez, Nestor C. Kun, G.R. No. 166884
Ma. Estelita Angeles Panlilio and Napoleon O. Garcia June 13, 2012
11. Hur Tin Yang v. People of the Philippines August 14, 2013