COURSE SYLLABUS

COURSE TITLE: LAW ON SALES, AGENCY, PLEDGE, MORTGAGE &

OTHER BAILMENTS (ACCOUNTANCY PROGRAM)

COURSE NUMBER: BL- 4

TIME: MWF SCHEDULE

INSTRUCTOR: ATTY. JANET GRACE DALISAY-FABRERO

Objectives:
1. To enable students to know the legal principles governing the law on Sales,
Agency, Pledge, Mortgage and other Bailments;
2. To assist and guide students in understanding legal provisions applicable to
above-stated subject matters;
3. To enhance students mastery on the subject matters in preparation for the
CPA Board Examination.
4. To enable students to relate these legal provisions and principles to their day-
to-day activities, to their business courses as well as to their future endeavors;
5. To guide students in developing analytical approach in understanding legal
provisions vis-à-vis the jurisprudences laid down by the Supreme Court.
6. To design a effective learning atmosphere for graduating accountancy
students in preparation for the CPA Board examination.

Official Textbook: The Law on Sales, Agency and Credit Transactions

By Hector S. De Leon

Other References: Law on Sales, Agency and Credit Transactions

By: Renato Pasimio

Agency, Sales, Bailments and/or Credit Transactions

(Law and Jurisprudence)
By. Reynaldo B. Aralar

Civil Code of the Philippines, Annotated Vol. IV

By: Edgardo L. Paras

Grading System:
For each Grading:
Quizzes 50%
Long Quiz
Class Activities/Projects 45%
Attendance 5%
_____
100%
Final Grade:

3 Gradings/3 75%
Departmental Exam 25%
_______
100%
Requirements:
At least Three (3) Quizzes per Grading
One (1) Long Exam Per Grading
Recitation
Assignments
Additional Requirements equivalent to Quiz:
Case Research and Digesting
Case and Problem Analysis
Consumers’ Awareness Forum/Exhibit

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COURSE OUTLINE FOR SCHOOL YEAR 2010-2011 ( 2nd Semester) *

Law on Sales

November 3-5, 2010– Introduction, Nature and Form of Sales (Articles 1458-1488)
Introduction
Origin of the Law on Sales in the Philippines
Definition of Sales
Essential elements of the contract of sale
Nature and Characteristics of the Contract of Sale
Kinds of Sales
Sale as distinguished from other kinds of contracts
Quiz - November 5, 2010

November 8-12, 2010 - Continuation of Nature and forms of Sales (Arts. 1458-1488)
Concept of Ownership and Delivery
Risk of loss or Deterioration
Meaning of Earnest money vs. Option Money
Forms of Sale
Remedies of a seller in sales of personal property by Installments (Recto
Law)
Sale of Real Property by Installment (Maceda Law) R.A. No. 6552
The Subdivision and Condominium Buyers Protective Decree
(P.D. No. 957)
Lease of Personal Property with Option to Buy
Expenses for execution and Registration of Sale
Tentative Quiz November 12, 2010

November 15-19, 2010 - Capacity to Buy or Sell & Obligation of the Vendor
(Articles 1489-1520)
Who may enter into a contract of sale
Disqualifications in a contract of sale
Effects of the contract of sale when the thing sold is lost.
Loss of specific goods and specific things
Principal obligations of the vendor
Kinds of Delivery
Contract of Sale or Return and Sale on Trial or Approval
Rules on Negotiable Document of Title
Tentative Quiz November 19, 2010

November 22-26, 2010 - Continuation of Obligations of Vendor (Articles 1521-1544)

Place and Time of Delivery of Goods
Effect of delivery when less or more than the quantity
Delivery of Mixed goods
Delivery to Carrier and its effects
Trade Terms
Unpaid Seller & Remedies of an Unpaid Seller
Sale of real Property in less or greater area or number
Sale of Real Property in lump sum
Double Sales
Tentative Quiz November 26, 2010

Nov. 29 to Dec. 3, 2010 Conditions and Warranties (Articles 1545-1581)

Meaning and Effect of Condition
Meaning, kinds and Effects of Warranty
Warranty against Eviction
Warranty against Hidden Defects
Warranty against Hidden Encumbrance
Warranty of Fitness
Warranty of Merchantability
Principle of Caveat Emptor and Caveat Venditor
Warranty in Judicial Sales

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 Warranty in Sales of animals
Special Lecture on Consumer Act of the Philippines ( Activity Hour)

December 6-10, 2010 Obligations of the Vendee (Arts. 1582-1599)

Principal Obligations of the Vendee
Rights of the buyer
Action for Breach of Contract of Sale of goods
Tentative Quiz: December 10, 2010

December 13-15, 2010 Extinguishment of Sale (Articles 1600-1623)

Assignment of Credits and Other Incorporeal Rights
(Arts. 1624-1637)

December 17, 2010 PRELIM EXAMINATION

CHRISTMAS VACATION

Law on Agency

January 3-7, 2011 – Nature, Form and Kinds of Agency (Articles 1868-1883)
Characteristics of a contract of Agency
Essential Elements of Agency
Kinds of Agency
Forms of Agency
General and Special Agency
Presumption as to the consideration of Agency
When Special Power of Attorney is required
Kinds of Principal
Quiz: January 7, 2011

January 10-14, 2011 Obligations of the Agent ( Articles 1884-1909)

Specific obligations of the agent
Meaning of Sub-agent
Liabilities of Agent
Relation of Agent to third person
Meaning of Authority
Effect of Authority of Agent to third person
Meaning of Facto or Commission Agent
Obligations of a Commission Agent
Quiz January 14, 2011

January 17 & 21 2011 Obligations of the Principal & Extinguishment of Agency

(Arts. 1910 –1932)
Specific obligations of the principal
Agency by Estoppel
Apparent Authority, Implied Agency & Agency by Necessity
Liability of two or more principals
Modes of Extinguishment of Agency
Rules on revocability of agency at will
When agency is irrevocable
Quiz January 21, 2011

January 24, 26, 2011 Provisions Common to Pledge and Mortgage

(Articles 2085-2092)
Provisions Applicable to Pledge (Articles 2093-2123)
Quiz January 26, 2011

January 28, 2011 MIDTERM EXAMINATION

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Jan. 31to Feb. 4, 2011 General Provision Applicable to Real Estate Mortgage
(Arts. 2124- 3131) Act.No. 3135 as amended by Act No.4118
Supreme Court Circulars Governing Foreclosure of Mortgages
Quiz February 4, 2010

February 7-11, 2011 Antichresis (Articles 3132-2139)

Chattel Mortgage Law (Articles 2140-2141) & Act No. 1508
Quiz February 11, 2011

February 14-18, 2011 Meaning, Nature and Kinds of Credit Transactions & Bailments
Provisions governing Loan (Commodatum/ Mutuum)
(Articles 1933-1961)
Summary of the Law on Deposit (Articles 1962-2009)
Voluntary and Necessary Deposit
Judicial Deposit
Quiz February 18, 2011

February 21-25, 2011 Voluntary and Necessary Deposit

Judicial Deposit
Summary of the Law on the Contract of Guaranty
(Articles 2047-2081)
Quiz February 25, 2011 ( Law on Deposit)

February 28, 2010 FINAL EXAMINATION

March 2-4, 2011 DEPARTMENTAL EXAMINATION

* This schedule or calendar is subject to changes if so warranted by supervening

events.
Surprise quizzes at anytime – Instructor’s discretion