Mercantile Law — 2023

1. Juan, acting as president of Maharlika Car Dealers Incorporated (MCDI), entered into a contract of long-term lease with Antonino over a large commercial property along Pasong Tamo Avenue owned by t…

2. Datu Commercial Corporation (DCC), a publicly-listed company with the Philippine Stock Exchange, incorporated Kidlat Close Corporation (KCC), investing into 91% of its outstanding capital. The chai…

3. The Board of Directors of Mabini Corporation (MC) unanimously adopted a resolution directing its management to issue as fully paid 10,000 common shares to Atty. Apolinario for successfully prosecut…

4. The articles of incorporation of Dakila Incorporated (DI) provides for a seven- member Board of Directors. Florante, the chairperson of the Board, resigned barely two months into office while Laura…

5. Singha Corporation (SC), a corporation organized and existing under Singapore laws, filed a complaint for a sum of money and damages against Muni Corporation (MC), a Philippine-incorporated company…

6. Procopio owns the controlling interest in Ginto Bank (GB). Due to the promising potential of lending with real estate collateral, the bank is primarily focused on said transactions. After the Bangk…

7. Jacinto, the Governor of Sorsogon, maintains United States (US) dollar deposits in various offshore banks at the Cayman Islands, British Virgin Islands, and Switzerland. In an exposé by Balita Maga…

8. Atty. Diwa is the lawyer of Tala in a criminal case for Estafa before the Regional Trial Court of Manila. After one of their hearings, Tala gave Atty. Diwa ₱10 million for safekeeping, which Tala a…

9. Emilio owns a car which he purchased from Gregorio. Emilio agreed to pay Gregorio the balance of the purchase price in the amount of ₱500,000 within one year. To secure the payment of the balance, …

10. Diego, a cancer survivor, filed an application for a life insurance policy with Garantiya Insurance Company (GIC). He delivered his application and insurance premium to Gabriela, the officer of GI…

11. Hari and Reyna booked a honeymoon package at Anya Resort (AR) in Palawan which included transportation from Batangas to Palawan, and vice versa, via M/B Prinsesa owned and operated by AR. Despite …

12. Kagandahan Corporation (KC) has been manufacturing medicated facial creams with the brand name “Kutis” since 2010. The facial creams are contained in pink, oval-shaped containers. However, KC did …

13. Atty. Matalas prepared a deed of sale which contains all the elements necessary to perfect the contract, particularly a statement of the agreement to transfer in an absolute manner the parcel of l…

14. Julio secured a copyright registration for a drawing of a light box. Julio used the drawing for his advertisements indicating the new internal electronic design features of the light box. Ten year…

15. China Telecommunication Company (CTC), a Chinese state-owned enterprise, sought to acquire 40% equity in Duon Telecommunication Corporation (DTC), a telecommunications company in the Philippines. …

16. Upon seeing the global popularity of Korean culture, the President of the Philippines wanted to export Philippine culture as well. Thus, he met with both the Secretary of Tourism and the Chairpers…

17. Pedro ran a gambling den in the basement of a bar called Apolaki in Intramuros, Manila. His gambling operations consisted of a pastime from the late 1700’s called “Ratting”, where barrels of rats …

18. Marites is the chief executive officer and sole shareholder of Tsismis Ngayon OPC (TNO), a One Person Corporation that runs a popular blog about showbiz news and juicy gossip. From March to April …

19. Ikapati Corporation (IC) is a value-added tax (VAT)-registered corporation that sells various kinds of instant noodles. It is recognized as the industry leader, especially after its spicy bulalo f…

20. Quezon City assessed the Light Rail Transit Authority (LRTA) of real property taxes on its properties consisting of lands, buildings, machineries, and terminal stations. Despite repeated demands f…