2005 - LAW 3 - Law on Sales, Agency and Bailments

Colegio de San Juan de Letran Intramuros, Manila College of Business Administration and Accountancy ACCOUNTANCY AREA School Year 2005-2006 I.

Course Number

:

LAW 3

II.

Course Title

:

Law on Sales, Agency and Bailments

III.

Credits

:

3 units

IV.

Prerequisite

:

Law 1

V.

Course Description : This course deals with the law on sales covering contracts for the sale of goods including nature, forms, and requisites, distinguished from dacion en pago, cession in payment, contract for a piece of work, and barter; earnest money as distinguished from option money; rights/obligations of vendee and vendor; remedies of unpaid seller; warranties; sale with a right to repurchase or conventional redemption and legal redemption; sale on credit; installment sales (personal-property- Recto Law, real property- Maceda law). It also covers the law on agency; its nature, form and kinds; obligation of the agent and the principal; and modes of extinguishments. Also discussed are employment contracts and pertinent provisions of the Labor Code and the law on credit transactions such as loan, deposit, guarantee, pledge, real mortgage, antichresis, and chattel mortgage. Other relevant laws on commerce and trade such as law on investments likewise discussed.

VI.

Course Rationale

VII.

Course Objectives

:

Cash inflow from operations is mainly generated by sales, therefore it matters to know the provisions affecting the contract of sale as well as agency and bailments.

A. General Objective

:

At the end of the course, the students are expected to interpret the implications of the provisions affecting the contract of sales.

B. Specific Objectives

:

Cognitive

:

Express ideas effectively of the general provisions of the law affecting sales, agency and bailment’s.

Affective

:

Integrate the values of honesty and integrity in interpreting the provisions of the law.

Psychomotor

:

Handle simple cases on sales, agency and bailments..

Specific Objectives

Subject Matter

Enumerate the effects when the thing 1. Sales sold has been lost. 1.1 Nature and form of contracts 1.2 Capacity to buy or sell 1.3 Effects of the contract when the thing sold has been lost List the obligations of the vendor. 1.4 Obligations of the vendor 1.5 Obligations of the vendee Cite the obligations of the vendee. 1.6 Actions for breach of COMMUNITY SERVICE contract of sale of goods INTEGRATION 1.7 Extinguishments of sale Explain the actions, which are 1.8 Assignment of credits and considered as breach of contracts. other incorporeal rights

Values Integrated

Appreciation the contract sale.

Strategies/ Teaching Methodology of Lectures of Case analysis Board Work

Instructional Materials

Evaluation

Books Quiz Newspapers Recitation Supreme Court Seatwork Records Annotated (SCRA) Phil. Reports

Honesty in the execution of contract of sale.

Time frame

1st to 9th Week

Expected Output

Enumerated the effects when the thing sold has been lost. Listed the obligations of the vendor. Cited the obligations of the vendee. Explained the actions, which are considered as breach of contracts.

MID-TERM EXAMINATION 2. Agency 2.1 Nature, form and kinds of Integrity Illustrate the nature, form and kinds of agency Honesty agency. 2.2 Obligation of the agent 2.3 Obligation of the Compare the obligation of the agent principal from the obligation of the principal. 2.4 Modes of Enumerate the different modes of extinguishments of extinguishing an agency. agency

Case Analysis

Books Compilation Newspapers of case Supreme Court Records Annotated (SCRA) Phil. Reports

Illustrated the nature, form and 11th to kinds of agency. 18th week Compared the obligation of the agent from the obligation of the principal. Enumerated the

different modes of extinguishing an agency. Discuss the provisions common to 3. Pledges and Mortgages Appreciation pledges and mortgages. 3.1 Provision common to pledge and mortgages 3.2 Pledge Reliability 3.3 Mortgage 3.4 Chattel Mortgage

Lectures Case analysis Board Work

Books Quiz Newspapers Recitation Supreme Court Seatwork Records Annotated (SCRA) Phil. Reports

Discussed the provisions common to pledges and mortgages.

Actual Case Analysis on Sales, Agency, Loan and Mortgage

Books Newspapers Supreme Court Records Annotated (SCRA) Phil. Reports

Provided opportunity to students to know how the different special contracts operate within the community

COMMUNITY SERVICE INTEGRATION Provide opportunity to students to know how the different special contracts operate within the community.

Provisions of special contracts

Honesty

FINAL EXAMINATION

VI.

Grading System: MIDTERMS CLASS STANDING QUIZZES MIDTERM EXAM

30% 30% 40%

FINALS CLASS STANDING QUIZZES FINAL EXAM

30% 30% 40%

MIDTERM GRADE 100%

PRE-FINAL GRADE 100%

FINAL GRADE

50%

: MIDTERM

+

PRE-FINAL GRADE

50%

=

100%

Compilation of solved cases along sales, agency, loan and mortgage

VII. Course Policies:

Policies on attendance and academic dishonesty are found in the Student Handbook. In case of missed examination and assignments, the student is given the chance to make-up within a week from the day he/she reported, otherwise, it will be equivalent to 50%. VIII.

References: Hector de Leon. Law on Sales, Agency and Bailments Carlos Suarez. Law on Sales, Agency, Pledge and Mortgages