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Gross Receipts - For purposes of these Regulations, the term shall refer to the compensation for all

financial and non- 4 financial services, or combination thereof, exclusive of the value added tax,
performed by financial institutions within the Philippines, which compensation or fees are actually or
constructively received during the month or quarte

Net profit-the actual profit after working expenses not included in the calculation of gross profit
have been paid.

Effects of unlawful partnesrship

1. The contract is void
2. Profits confiscated in favor of state
3. Instruments and ToolsAND PROCEEDS OF THE CRIME shall be FORFEITED IN

the established reputation of a business regarded as a quantifiable asset, e.g., as represented
by the excess of the price paid at a takeover for a company over its fair market value.

goodwill in the world of business, refers to the established reputation of a company as

a quantifiable asset and calculated as part of its total value when it is taken over or sold.
It is the vague and somewhat subjective excess value of a commercial enterprise or
asset over its net worth. It is a vital component for increasing a company’s customer
base and retaining existing clients. It also attracts investors and encourages
stakeholders to forgive you if you make a mistake.

When a company is being acquired by another one for a premium value, that amount,
above what it is believed to be truly worth – its book value – is known as goodwill.

Goodwill – an intangible asset – is the value of business’ brand name, good customer
relations, extensive customer base, excellent employee relations and any proprietary
technology or patents. These assets are not separately identifiable.
Jueteng (Tagalog pronunciation: [hwɛtɛŋ] or [wɛtɛŋ]) is an illegal numbers game played in
the Philippines. It is a widely popular game with participation that crosses most, if not all social and
economic boundaries. With long odds and no limits on minimum or maximum bets, the lure of quick
riches through a lucrative payout is by far its strongest appea

What is the so-called “boundary system”?

Under this system the driver is engaged to drive the owner/operator’s unit and pays the
latter a fee commonly called boundary for the use of the unit. Whatever he earned in excess
of that amount is his income. (Paguio Transport Corp. v. NLRC, G.R. No. 119500, Aug. 28,

What kind of relationship exists between the owner of the vehicle

and the driver under a "boundary system" arrangement?

The relationship between jeepney owners/operators on one hand and jeepney drivers on
the other under the boundary system is that of employer-employee and not of lessor-
lessee. (Martinez v. NLRC, G.R. No. 117495, May 29, 1997).

The features which characterize, the "boundary system" – namely, the fact that the driver
does not receive a fixed wage but gets only the excess of the amount of fares collected by
him over the amount he pays to the jeep- owner, and that the gasoline consumed by the
jeep is for the account of the driver – are not sufficient to withdraw, the relationship
between them from that of the employer and employee. (National Labor Union v. Dinglasan,
G.R. No. L-14183, Nov. 4, 1993)


n. share in partnership
rima facie (/ˈpraɪmə ˈfeɪʃii, -ʃə, -ʃiː/; from Latin prīmā faciē) is a Latin expression meaning on its first
encounter or at first sight.[1] The literal translation would be "at first face" or "at first appearance",
from the feminine forms of primus ("first") and facies ("face"), both in the ablative case. In modern,
colloquial and conversational English, a common translation would be "on the face of it".
The term prima facie is used in modern legal English (including both civil law and criminal law) to
signify that upon initial examination, sufficient corroborating evidence appears to exist to support a
case. In common law jurisdictions, prima facie denotes evidence that, unless rebutted, would be
sufficient to prove a particular proposition or fact. The term is used similarly in academic philosophy.
Most legal proceedings, in most jurisdictions, require a prima facie case to exist, following which
proceedings may then commence to test it, and create a ruling.[2]

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