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2015 Bar Examination · Mercantile Law
Mercantile Law — 2015
Every Mercantile Law question from the 2015 Bar, traced to the statutes, cases and Supreme Court doctrines it tests. Open any question for the facts, the mapped authorities, and the ALAC model answer.
The 2015 Mercantile Law questions
Questions are public-domain (Supreme Court Bar examinations). Each ALAC model answer is AI-drafted from landmark authorities and refined with every round of verification.
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…
A. Novette entered into a contract for the purchase of certain office supplies. The goods were shipped. While in transit, the goods were insured by Novette. Does she have an insurable interest over th…
A. Discuss the three-fold character of a bill of lading. (3%) B. What is a "Jason clause" in a charter party? (2%) C. Are common carriers liable for injuries to passengers even if they have observed o…
A. Maine Den, Inc. opened an irrevocable letter of credit with Fair Bank, in connection with Maine Den, Inc.' s importation of spare parts for its textile mills. The imported parts were released to Ma…
A. A standby letter of credit was issued by ABC Bank to secure the obligation of X Company to Y Company. Under the standby letter of credit, if there is failure on the part of X Company to perform its…
A. DEF Corporation has retained surplus profits in excess of 100% of its paid-in capital stock. However, it is unable to declare dividends, because it had entered into a loan agreement with a certain …
A. A foreign company has been exporting goods to a Philippine company for several years now. When the Philippine company failed to pay the latest exportation, the foreign company sued to collect in th…
Barn filed an action to enjoin SN Company's Board of Directors from selling a parcel of land registered in the corporation's name, to compel the corporation to recognize Barn as a stockholder with 50 …
A. Able Corporation sold securities to 21 non-qualified buyers during a 15-month period, without registering the securities with the Securities and Exchange Commission. Did Able Corporation violate th…
Mr. and Mrs. Reyes invested their hard-earned savings in securities issued by LEAD Bank. After discovering that the securities sold to them were not registered with the SEC in violation of the Securit…
A. Why is the Bangko Sentral ng Pilipinas considered a lender of last resort? (2%) B. Distinguish a conservator from a receiver of a bank. (2%) C. What is insider trading? (2%)…
A. Raymond invested his money in securities issued by the Philippine government, through his bank. Subsequently, the Bureau of Internal Revenue asked his bank to disclose his investments. His bank ref…
A. A commercial bank wants to acquire shares in a cement manufacturing company. Do you think it can do that? Why or why not? (2%) B. A court found the interest charged by a bank as excessive and uncon…
A. Differentiate trademark, copyright and patent from each other. (6%) B. What is the doctrine of equivalents? (2%) C. In what ways would a case for infringement of trademark be different from a case …
CHEN, Inc., a Taiwanese company, is a manufacturer of tires with the mark Light Year. From 2009 to 2014, Clark Enterprises, a Philippine registered corporation, imported tires from CHEN, Inc. under se…
A. On the anti-money laundering laws: 1. What is the distinction between a "covered transaction report" and a "suspicious transaction report"? (2%) 2. Does the Anti-Money Laundering Council have the a…