Q & A Mercantile Law.doc

2018 MOCK BAR EXAMINATIONS

MERCANTILE LAW October 14, 2018

8:00  A.M. - 10:0 A 0:0 A.M. INSTR!CTI ONS

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MERCANTILE LAW

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I .

Vitaliano filed,  in his capacity as stockholder in ehalf of !"#$%, Inc , a of  co&plaint for intra'corporate ins pection disp( te, in)(nction, corporate  ooks and records a*ainst respondent #ocoo, a &e&er of  the oard of !"#$%.  Vitaliano learned of a +eneral Infor& ation heet indicatin* s(stanti-e chan*es ith respect to the co&position of directors and s(scriers of !"#$%, ith #ocoo as the c(lp r it. .

/(rin* the trial, #ocoo infor&ed the co(rt that !"#$%0s Certificate of  Re*istratio n as already re-oked for its fail(re to co&ply ith the ,EC reportorial re1(ir e&ents.

A .

What are the ele&ents of an intra'corporate contro-ersy2 3456

 A' #'tr(-coror(te co'tro*er$3 #$ o'e 5"#c" (r#$e$ bet5ee' ( $toc"o7er (' t"e coror(t#o'. T"ere #$ 'o #$t#'ct#o', 6&(7#)#c(t#o' 'or ('3 eet#o' 5"(t$oe*er. T"e ro*#$#o' #$ bro( (' co*er$ (77 #'$ o) co'tro*er$#e$ bet5ee' $toc"o7er$ (' coror(t#o'$. +Tabang v. National Labor Relations Commission, 334 Phil .424, 1997) The following elements must concur: (a) the status or relationship of the  parties; and (b) the nature of the uestion that is sub!ect of their  controvers" (Renato Real vs. #angu $hilippines% &nc. and 'iichi be% G.R. No. 168757, January 19, 2011 )

# .

What is the effect of the s(se1(ent dissol(tion of a corporation on an e7istin* intra 8 corporate disp(te, hich does not constit(te a contin(ation of corporate  (siness2 9456

&r$&('t to Sect#o' 14 o) t"e Coror(t#o' Coe, (' e#$t#'/ #'tr(coror(te #$&te, 5"#c" oe$ 'ot co'$t#t&te ( co't#'&(t#o' o) coror(te b&$#'e$$, #$ 'ot ())ecte b3 t"e $&b$e6&e't #$$o7&t#o' o) t"e coror(t#o'. +italiano N. guirre and *idel N. guirre vs. *+,-% Nathaniel  ,ocobo% $riscila ,ocobo and ntonio /e illa, G.R. No. 170770, January 9, 2013 No'e. T"e #$$o7&t#o' o) t"e coror(t#o' $#73 ro"#b#t$ #t )ro co't#'&#'/ #t$ b&$#'e$$. @o5e*er, e$#te $&c" #$$o7&t#o', t"e (rt#e$ #'*o7*e #' t"e 7#t#/(t#o' (re $t#77 coror(te (ctor$. T"e #$$o7&t#o' oe$ 'ot (&to(t#c(773 co'*ert t"e (rt#e$ #'to tot(7 $tr('/er or c"('/e t"e#r #'tr( coror(te re7(t#o'$"#$. Ne#t"er oe$ #t c"('/e or ter#'(te e#$t#'/ c(&$e$ o)  (ct#o', 5"#c" (ro$e bec(&$e o) coror(te t#e$ bet5ee' t"e (rt#e$

MERCANTILE LAW

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II pecial teel sold eldin* electrodes to Int erc o, In  pay&ent for the ao-e eldin * electrodes, Interco iss(ed three checks payale to the order of  , pecial  teel. Each check as crossed ith the notation ;acco(nt payee only; and as dran a*ainst E1(itale. !ARANTEE.

ANOR

LACK

O

W#t"o&t $&c" 5(rr('t3, 7(#'t#)) 

5o&7 'ot "(*e (# o' t"e c"ec$.

No (o&'t o) 7e/(7 .R. No$. 12141, 1214F, 128P04, Q('&(r3 2, 2011 2 1F SCRA 188 +188  I. (t 14

# Is the ank liale 94?>oB

e$. T"e c"ec$ t"(t I'terco #$$&e #' )(*o&r o) Sec#(7 Stee7 5ere (77 cro$$e c"ec$ (e (3(b7e to Sec#(7 Stee7$ orer (' co't(#'e t"e 'ot(t#o' H(cco&'t (3ee o'73.J T"#$ cre(te$ ( re($o'(b7e eect(t#o' t"(t t"e (3ee (7o'e 5o&7 rece#*e t"e rocee$ o) t"e c"ec$ (' t"(t #*er$#o' o) t"e c"ec 5o&7 be (*erte. T"e '(t&re o) cro$$e c"ec$ $"o&7 7(ce ( b(' o' 'ot#ce t"(t #t $"o&7 eerc#$e ore c(&t#o' to ($cert(#' 5"et"er t"e (3ee o' t"e c"ec "($ (&t"or#;e t"e "o7er to eo$#t t"e $(e #' ( #))ere't (cco&'t $#'ce t"e b('#'/ b&$#'e$$ #$ #re$$e 5#t" &b7#c #'tere$t. T"e "#/"e$t e/ree o) #7#/e'ce #$ eecte o) t"e b('.

III. A !(so tr(ck an Is(( tr(ck sandiched the car of the Man*alinaos The latter died, lea-in* their &inor children ho filed a s(it a*ainst the re*istered oners and dri- er s of the tr(cks. #ased on the e-idence, the road as et and slippery that ni*ht and the !(so tr(ck, hich as r(nnin* fast, had lost control, skidded to the left and  locked the ay of the car. The !(so tr(ck ra&&ed onto the car ,  pinnin* it to the Is(( tr(ck . A .

.

Can the !(so tr(ck in-oke the E&er*ency R(le2 Why or hy not 9456

No. T"e Eer/e'c3 R&7e $t(te$  o'e 5"o $&e'73 )#'$ "#$e7) #' ( 7(ce o) ('/er (' #$ re6&#re to (ct 5#t"o&t t#e to co'$#er t"e be$t e('$ t"(t (3 be (ote to (*o# t"e #e'#'/ ('/er #$ 'ot /t3 o) 'e/7#/e'ce. I) "e )(#7$ to (ot 5"(t $&b$e6&e't73 (' &o' re)7ect#o' (3 (e(r to "(*e bee' ( better et"o &'7e$$ t"e eer/e'c3 #' 5"#c" "e )#'$ "#$e7) #$ bro&/"t (bo&t b3 "#$ o5' 'e/7#/e'ce. @ere, t"e eer/e'c3 5($ bro&/"t &o' b3 t"e &$o tr&c$ 'e/7#/e'ce. >#*e' t"e 5et (' $7#er3 co'#t#o' o) t"e ro( t"(t '#/"t, t"e &$o tr&c r#*er $"o&7 "(*e bee' r&e't to re&ce "#$ $ee (' #'cre($e "#$ #$t('ce )ro t"e c(r. #

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MERCANTILE LAW

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The oner of the !(so tr(ck clai&ed that the tr(ck as already sold to a third  person, aleit (nre*istered, hence he sho(ld not e liale  in the s(it. Is he correct2 9456

No. Re/(r7e$$ o) 5"oe*er o'e c7(#$ to be t"e (ct&(7 o5'er o) t"e &$o b3 re($o' o) ( co'tr(ct o) $(7e. It #$, 'e*ert"e7e$$, r#(r#73 7#(b7e )or t"e ((/e$ or #'