2006 BAR EXAMINATION
IN
MERCANTILE LAW
BAR EXAMINATION 2006
MERCANTILE LAW
17 September 2006 8 A.M. - 12 Noon
INSTRUCTIONS
This questionnaire consists of sixteen (16) numbers contained in eight
(8) pages. Read each question very carefully. Answer legibly, clearly,
and concisely. Start each number on a separate page; an answer to a
sub-question under the same number may be written continuously on the
same page and immediately succeeding pages until completed. Do not
repeat the question. A mere "Yes" or "No" answer without any
corresponding discussion will not be given any credit.
HAND IN YOUR NOTEBOOK WITH THIS
QUESTIONNAIRE
GOOD LUCK!!!
(Sgd.) ANGELINA S. GUTIERREZ
Chairperson
20006 Bar Examination Committee
PLEASE CHECK THE NUMBER OF PAGES IN
THIS SET
WARNING: NOT FOR SALE OR UNAUTHORIZED
USE
MERCANTILE LAW
- I -
1. What is the doctrine of "piercing the veil of corporate
entity?" Explain 2.5%
2. To what circumstances will the doctrine apply? 2.5%
3. What is the minimum and maximum number of incorporators
required to incorporate a stock corporation? is this also the same
minimum and maximum number of dicrectors required in a stock
corporation? 2.5%
4. Must all incorporators and directors be residents of
the Philippines? 2.5%
- II -
Discuss the legal consequences when a bank honors a forged check. 5%
- III -
Jun was about to leave for a business trip. As his usual practice, he
signed several blank checks. He instructed Ruth, his secretary, to fill
them as payment for his obligations. Ruth filled one check with her
name as payee, placed P30,000.00 thereon, endorsed and delivered it to
Marie. She accepted the check in good faith as payment for goods she
delivered to Ruth. Eventually, Ruth regretted what she did and
apologized to Jun. Immediately he directed the drawee bank to dishonor
the check. When Marie encashed the check. it was dishonored.
1. Is Jun liable to Marie? 5%
2. Supposing the check was stolen while in Ruth's possession and
a thief filled the blank check, endorsed and delibvered it to Marie in
payment for the goods he purchased from her, is Jun liable to Marie if
the check is dishonored? 5%
- IV -
Rudy is jobless but is reputed to be a jueteng operator. He has never
been charged or convicted of any crime. He maintains several bank
accounts and has purchased 5 houses and lots for his children from the
Luansing Realty I Inc. Since he does not have any visible job, the
company reported his purchases to the Anti-Money Laundering Council
(AMLC). Thereafter, AMLC charged him with violation of the Anti-Money
Laundering Law. Upon request of the AMLC, the bank disclosed to it
Rudy's bank deposits amounting to P100 Million. Subsequently, he was
charged in court for violation of the Anti-Money Laundering Law.
1. Can Rudy move to dismiss the case on the ground that he
has no criminal record? 2.5%
2. To raise funds for his defense, Rudy sold the houses
and lots to a friend. Can Luansing Realty, Inc. be compelled to
transfer to the buyer ownership of the houses and lots? 2.5%
3. In disclosing Rudy's bank accout:)ts to the AMLC, did
the bank violate any law? 2.5%
4. Supposing the titles of the houses and lots are in possession
of the Luansing Realty I Inc., is it under obligation to deliver the
titles to Rudy? 2.5%
- V -
The Peninsula Insurance Company offered to insure Francis' brand new
car against all risks in the sum of P1 Million for 1 year. The policy
was issued with the premium fixed at P60,000.00 payable in 6 months.
Francis only paid the first two months installments. Despite demands,
he failed to pay the subsequent installments. Five months after the
issuance of the policy, the vehicle was carnapped. Francis filed with
the insurance company a claim for its value. However, the company
denied his claim on the ground that he failed to pay the premium
resulting in the cancellation of the policy.
Can Francis recover from the Peninsula Insurance Company? 5%
- VI -
1. In several policy addresses extensively covered by
media since his appointment on December 21, 2005, Chief Justice Artemio
V. Panganiban vowed to leave a judiciary characterized by "four Ins"
and to focus in solving the "four ACID" problems that corrode the
administration of justice in our country.
Explain this "four Ins" and "four ACID"
problems. 2.5%
2. The Chief Justice also said that the judiciary must
"safeguard the liberty" and "nurture the prosperity" of our people.
Explain this philosophy. Cite Decisions
of the Supreme Court implementing each of these twin beacons of the
Chief Justice. 2.5%
- VII -
1. What is a mutual insurance company or association? 2.5%
2. Distinguish between the role of a conservator and that
of a receiver of a bank. 2.5%
- VIII -
Pio is the president of Western Bank. His wife applied for a loan with
the said bank to finance an internet cafe. The loan officer told her
that her application will not be approved because the grant of loans to
related interests of bank directors, officers, and stockholders is
prohibited by the General Banking Law.
Explain whether the loan officer is correct. 5%
- IX -
The Blue Star Corporation filed with the Regional Trial Court a
petition for rehabilitation on the ground that it foresaw the
impossibility of paying its obligations as they fall due. Finding the
petition sufficient in form and substance, the court issued an Order
appointing a rehabilitation receiver and staying the enforcement of all
claims against the corporation.
What is the rationale for the Stay Order? 5%
- X -
1. What acts or omissions are penalized under the
Trust Receipts Law? 2.5%
2. Is lack of intent to defraud a bar to the
prosecution of these acts or omissions? 2.5%
- XI -
Under Republic Act No.1405 (The Bank Secrecy Law), bank deposits are
considered absolutely confidential and may not be examined, inquired or
looked into by any person, government official, bureau or office.
What are the exceptions? 5%
- XII -
1. Is the Securities and Exchange Commission the
venue for actions involving intra-corporate controversies? 2%
- XIII -
Supposing Albert Einstein were alive today and he filed with the
Intellectual Property Office (IPO) an application for patent for his
theory of relativity expressed in the formula E=mc2. The IPO
disapproved Einstein's application on the ground that his theory of
relativity is not patentable.
Is the IPO's action correct? 5%
- XIV -
In a written legal opinion for a client on the difference between
apprenticeship and learnership, Liza quoted without permission a labor
law expert's comment appearing in his book entitled "Annotations on the
Labor Code."
Can the labor law expert hold Liza liable for infringement of copyright
for quoting a portion of his book without his permission? 5%
- XV -
A real estate mortgage may be foreclosed judicially or extrajudicially.
In what instance maya mortgagee extrajudicially foreclose a real estate
mortgage? 5%
- XVI -
Pursuant to a writ of execution issued by the Regional Trial Court in
"Express Bank v. Don Rubio," the sheriff levied and sold at public
auction 8 photocopying machines of Don Rubio. Is the sheriff's sale
covered by the Bulk Sales Law? 5%
NOTHING FOLLOWS.
Back to
Main Index
|
