Commercial Laws I Syllabus

Commercial Law I
Course Number: JD703

JD 2E/ N-213/ WEDNESDAY 5:30-8:30
Law Professor: Atty. Noranissa A. Acob-Aliudin, RN
Course Description:
A survey of the important principles and concepts of basic laws on commercial transactions,
with a particular focus on Civil Code provisions on loans, mortgages, pledges and guaranty,
and similar credit transactions, as amended by the Personal Property Securities Act.
Additionally, the course integrates discussion on relevant provisions of laws on banking,
negotiable instruments and financial rehabilitation.
Prerequisite: Obligations and Contracts, and Corporation and Basic Securities Law
Course Credit: 3 units
General Objectives: At the end of the 2nd semester S.Y. 2023-2024, the students are expected
to:
1. Know the important principles and concepts of basic laws on commercial transactions, with
a particular focus on Civil Code provisions on loans, mortgages, pledges and guaranty, and
similar credit transactions, as amended by the Personal Property Securities
2. Recite the listed cases in the syllabus.
3. Appraise the latest rulings of the Supreme Court and related laws on the subject matter
4. Discuss the subject matters written in the syllabus.
A. Credit Transactions
1. Meaning and scope of credit transaction
2. Meaning and kinds of Security
3. Meaning of bailment
4. Creation of Bailment
5. Parties in Bailment
6. Subject matter of Bailment
7. Kinds of Contractual Bailment
B. Mutuum and Commodatum (Civil Code, arts. 1933-1961)

1. Definition and characteristics of contract of loan
2. Cause or consideration in a contract of loan
3. Kinds of Loan
4. Commodatum and Mutuum distinguished
5. Kinds of Commodatum
6. Nature of Commodatum
7. Obligations of the Bailee
8. Obligations of the Bailor
9. Mutuum or simple loan defined
Cases:
1. Rivera v. Sps. Chua, 746 SCRA 1 (2015) and Sps. Chua v. Rivera, 746
SCRA 1 (2015)
2. Bulatao vs. Estonactoc, 927 SCRA 535, G.R. No. 235020 December 10, 2019
3. Sps. Ramon Sy and Anita Ang, et al. v. Westmont Bank and PDIC, G.R. No.
201074, October 19, 2016
4. Odiamar vs. Valencia, G.R. No. 213582, June 28, 2016
5. United Alloy Philippines Corporation, et al. v. UCPB, G.R. No. 175949, January
30, 2017
6. Security Bank Corporation v. Sps. Rodrigo and Erlinda Mercado, G.R. Nos.
192934 and 197010, June 27, 2018
7. Transglobal Maritime Agency, Inc., et al. v. Vicente D. Chua, Jr., G.R. No.
222430, August 30, 2017
8. Bankard, Inc. v. Luz P. Alarte, G.R. No. 202573, April 19, 2017
C. Deposit (Civil Code, arts. 1962-2009)

1. Definition and Characteristic of contract of deposit
2. Purpose of Contract of Deposit
3. Deposit distinguished from mutuum
4. Deposit distinguished from commodatum
5. Binding effect of agreement to deposit
6. Creation of deposit
7. Kinds of Deposit
8. Subject matter of Deposit
9. Kinds of Extrajudicial deposit
10. Voluntary Deposit Defined
11. Voluntary and necessary deposits distinguished
12. Necessary Deposit defined
13. Kinds of necessary deposit
14. Sequestration or Judicial Deposit defines
15. Nature and purpose of Judicial Deposit
16. Obligation of depositary of sequestered property
17. Judicial and Extrajudicial deposits distinguished
Cases:
1. Bank of the Philippine Islands v. The Intermediate Appellate Court and Rizaldy T.
Zshornack, No. L-66826, August 19, 1988
2. Durban Apartments Corporation v. Pioneer Insurance and Surety Corporation, G.R.
No. 179419, January 12, 2011
D. Guaranty and Suretyship (Civil Code, arts. 2047-2081)

1. Definition and Characteristics of guaranty
2. Classification of Guaranty
3. Definition of Suretyship
4. Guaranty distinguished from Suretyship
5. Benefit of excussion or exhaustion
6. Exceptions to the Benefit of excussion
7. Extiguishment of Guaranty; Causes
Cases:
1. FGU Insurance Corporation v. Sps. Floro and Eufemia Roxas, G.R. Nos. 189526 and
189656, August 9, 2017
2. Development Bank of the Philippines v. Hon. Emmanuel C. Carpio, et al., G.R. No.
195450, February 1, 2017
3. Carmelita Borlongan v. Banco de Oro, G.R. Nos. 217617 and 218540, April 5, 2017,
citing Spouses Ching v. Court of Appeals, 423 SCRA 356, 2004
4. Trade and Investment Development Corporation of the Philippines. (Formerly
Philippine Export and Foreign Loan Guarantee Corporation) vs. Asia Paces
Corporation, G.R. No. 187403, February 12, 2014;
5. Go Tong Electrical Supply Co., Inc. vs. BPI Family Savings Bank, Inc., G.R. No.
187487, June 29, 2015
E. Real Estate Mortgage (Civil Code, arts. 2124-2126 and 2128-2131)
1. Definition and Characteristics of Mortgage

2. Cause or consideration in mortgage
3. Kinds of Mortgage
4. Subject matter of Mortgage
5. Essential requisites of Mortgage
6. Effect of Mortgage
7. Extent of Mortgage
8. Foreclosure of mortgage
9. Kinds of Foreclosure
10. Kinds of redemption
a. Equity Redemption (Judicial Foreclosure) Secs. 2, 3, Rule 68, p 380
b. Right of Redemption (Extrajudicial Foreclosure Sec. 6, Act No. 3135
11. Pactum commissorium
Cases:
1. Paradigm Development Corporation of the Philippines vs. Bank of the Philippine
Islands, 826 SCRA 267, G.R. No. 191174 June 7, 2017
2. Boston Equity Resources, Inc. et al. v. Edgardo D. Del Rosario, G.R. No. 193228,
November 27, 2017
3. Security Bank Corporation v. Sps. Rodrigo and Erlinda Mercado, G.R. Nos. 192934
and 197010, June 27, 2018
4. Gotesco Properties, Inc. v. Solidbank Corporation, now Metropolitan Bank and Trust
Company, G.R. No. 209452, July 26, 2017
5. Philippine National Bank v. Lilibeth S. Chan, G.R. No. 206037, March 13, 2017
6. Makilito B. Mahinay v. Dura Tire & Rubber Industries, Inc., G.R. No. 194152, June 5,
2017
7. Sps. Ellis and Carolina Miles v. Ronnie Bautista Lao, G.R. No. 209544, November 22,
2017
F. Personal Property Security Act (R.A. No. 11057)

1. Control Agreement
2. Purchase Money Security Interest
3. Registry
4. How security interest is created
5. Continuity of Security Interest
6. How security interest is perfected
7. Priority of Security Interest
G. BANKING LAWS
A. The New Central Bank Act (R.A. No. 7653, as amended by R.A. No. 11211)
B. Secrecy of Bank Deposits (R.A. No. 1405 and R.A. No. 6426, as amended)
1. Prohibited Acts
2. Exceptions from Coverage
3. Garnishment of Deposits
C. General Banking Law (R.A. No. 8791)
1. Nature of Bank Funds and Bank Deposits
2. Required Diligence of Banks; Liability as Drawee Bank
3. Prohibited Transactions by Bank Directors and Officers
D. Philippine Deposit Insurance Corporation Act (RA 3591, as a
H. Negotiable Instruments Law (Act No. 2031)
A. Requisites of Negotiability
B. Forgery and Material Alteration
C. Negotiation
D. Rights of the Holder
1. Holder in due course
2. Defenses Against the holder
E. Checks
I. Financial Rehabilitation , Insolvency, Liquidation and Suspension of Payments

(RA 10142)
A. Basic Concepts
1. Rehabilitation
2. Insolvent
3. Liquidation
4. Suspension of Payments
B. Modes of Rehabilitation
1. Court Supervised rehabilitation
2. Pre negotiated Rehabilitation
3. Out of Court or Rehabilitation Plan
C. Liquidation
1. Voluntary Liquidation vs Involuntary Liquidation vs Conversion
2. Procedure
3. Determination of Claims
D. Suspension of Payments
E. Remedies
1. Motion for Reconsideration
2. Petition for certiorari
Textbook: The law on sales, agency and credit transaction by De Leon, De Leon Jr. 2016;
Civil Code of the Philippines Codals by Rex Bookstore; Commercial Law 1 by Dvina.

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Commercial Law I

Course Number: JD703

B. Mutuum and Commodatum (Civil Code, arts. 1933-1961)

C. Deposit (Civil Code, arts. 1962-2009)

D. Guaranty and Suretyship (Civil Code, arts. 2047-2081)

E. Real Estate Mortgage (Civil Code, arts. 2124-2126 and 2128-2131)

1. Definition and Characteristics of Mortgage

F. Personal Property Security Act (R.A. No. 11057)

I. Financial Rehabilitation , Insolvency, Liquidation and Suspension of Payments

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