Department of Accounting Education

LAW 4 – Course Syllabus

COURSE INFORMATION
1. Course Number : LAW 4
2. Course Name : Sales, Agency, Labor and Other Commercial Law
3. 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 payments,
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, forms and kinds: obligation s
of the agent and of the principal; and modes of extinguishment. Also discussed are 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 Omnibus
Investment Code, Foreign Investment Act, and Retail trade Liberation Law are also discussed.
4. Pre-requisite : LAW 2
5. Co-requisite : None
6. Credit : 3.0 units lecture
7. Class schedule : 6 hours lecture per week (1 term)
8. Program Educational Objectives (PEO) of the Department of Accounting Education:
Three to five years after graduation, the Accounting Education graduates are expected to:
A. Engage in business undertakings and/or in the field of accounting that contribute to the development
of their community.
B. Pursue a successful career in accounting through relevant trainings and involvement in the continuing
professional development programs of the profession and/ or in advanced studies.
C. Involve actively as partners in the civic program of the community.

9. Student Outcomes (SO) of BSA/BSAT graduates and their links to PEO

STUDENT OUTCOMES (SO)

Upon completion of the program, the University of Mindanao students will demonstrate: 1 2 3
A Articulate and discuss the latest developments in the specific field of practice.  
B Effectively communicate orally and in writing using both English and Filipino
C Work effectively and independently in multi-disciplinary and multi-cultural teams.  
D* Act in recognition of professional, social, and ethical responsibility
E* Demonstrate working knowledge in the areas of financial accounting and reporting, cost  
accounting and management, management accounting, auditing, accounting information
systems and accounting research.
F Demonstrate self-confidence in performing functions as a professional accountant.   
G* Employ technology as a business tool in capturing financial and non-financial information,  
preparing reports and making decisions.
H* Apply acquired knowledge and skills to pass professional licensure/certification  
examinations.
I Appraise ethical problems / issues in practical business and accounting situations and  
recommend appropriate course of action that adheres to the professional code of ethics.
Note: * SO being addressed in this course

Law 4 – Sales, Agency, Labor and Other Commercial Law. Rev: June 2017 Page 1
 Department of Accounting Education
LAW 4 – Course Syllabus

10. Course Outcomes (CO) of LAW 4 and their links to SO

Upon the completion of the course, BSA/BSAT students are expected SO

to: D E G H
CO1 Understand the legal principles of sales, agency, labor and O O O O
other commercial laws and the rights and liabilities of the
parties involved.
CO2 Apply the legal principles of sales, agency, labor and other O O O O
commercial laws and the rights and liabilities of the parties
involved..

Legend: Level

[L] = Facilitate Learning of the competence (input is provided and competency is evaluated).
[P] = Allow students to practice competencies (no input but competency is evaluated).
[O] = Provide opportunity for development (no input or evaluation, but there is opportunity to practice the
competencies).

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 Department of Accounting Education
LAW 4 – Course Syllabus

Program Educational Objectives (PEO)

Vision: By 2022, a globally recognized

institution providing quality, affordable, and
open education.
Mission: To provide a dynamic and supportive
academic environment through the highest
standards of instruction, research and extension
in a non-sectarian institution committed to Values
democratizing access to education.
1. Engage in business undertakings and/or in the field of
accounting that contribute to the development of their
UM community;
Core 2. Pursue a successful career in accounting through relevant
trainings and involvement in the continuing professional
development programs of the profession and/ or in
advanced studies.;
3. Involve actively as partners in the civic program of the
community.

Program Intended Learning Outcomes (PILO)

Course Outcomes (CO)

A. Articulate and discuss the latest developments in the specific field of

practice.
B. Effectively communicate orally and in writing using both English and
Filipino.
C. Work effectively and independently in multi-disciplinary and multi-cultural 1. Understand the legal principles of sales,
teams.
D. Act in recognition of professional, social and ethical responsibility.
agency, labor, and other commercial laws and
E. Demonstrate working knowledge in the areas of financial accounting and
reporting, cost accounting and management, management accounting,
auditing, accounting information system and accounting research. the rights and liabilities of the parties involved.
F. Demonstrate self-confidence in performing functions as professional
accountant. 2.Apply the legal principles of sales, agency,
G. Employ technology as a business tool in capturing financial and non-
financial information, preparing reports and making decisions.
H. Apply acquired knowledge and skills to pass professional labor, and other commercial laws and the rights
licensure/certification examinations.
I. Appraise ethical problems/issues in practical business and accounting and liabilities of the parties involved.
situations and recommend appropriate course of action that adheres to the
professional code of ethics.

Law 4 – Sales, Agency, Labor and Other Commercial Law. Rev: June 2017 Page 3
 Department of Accounting Education
LAW 4 – Course Syllabus

CO and Assessment task alignment

Assessment Task

CO Theory-based Practice-based Assessment Coverage

Schedule

Understand the legal principles of sales, Multiple Choice Essay First Exam Contract of Sale, Contract
agency, labor and other commercial laws Questions of Agency, Law on Credit
and the rights and liabilities of the parties Second Exam Transaction, Other Legal
involved.
Third Exam issues

Final Exam

Apply the legal principles of sales, agency, Multiple Choice Essay First Exam Contract of Sale, Contract
labor and other commercial laws and the Questions of Agency, Law on Credit
rights and liabilities of the parties involved.. Second Exam Transaction, Other Legal
Third Exam issues

Final Exam

*Final assessment will be a comprehensive examination (from first topic to the last) in a Multiple Choice Questions

Law 4 – Sales, Agency, Labor and Other Commercial Law. Rev: June 2017 Page 4
 Department of Accounting Education
LAW 4 – Course Syllabus

Assessment Task Details (Theory-based)

Assessment Coverage Assessment Task Details
Schedule

First Exam Contract of Sale Multiple Choice The student is expected to display deep knowledge about the contract of sale: what are
Questions the requisites of a contract of sale, who are the parties involved, what are their
responsibilities and when is the contract of sale consummated.

Second Exam Contract of Agency Multiple Choice The student is expected to show proficiency in the topics in the previous exam as well as
Questions display deep knowledge about the contract of agency: what are the elements, who are
the parties involved, the role of the agent and when is the contract extinguished.

Third Exam Law on Credit Multiple Choice The student is expected to show proficiency in the topics in the previous exam as well as
Transaction Questions display deep knowledge about the different laws that govern credit transactions.

Final Exam Other Legal Issues Multiple Choice The student is expected to show proficiency in the topics in the previous exam as well as
Questions display deep knowledge about different legal matters like intellectual property rights,
product liability and others.

Assessment Task Details (Practice-Based)

Law 4 – Sales, Agency, Labor and Other Commercial Law. Rev: June 2017 Page 5
 Department of Accounting Education
LAW 4 – Course Syllabus

Assessment Coverage Assessment Task Details

Schedule

First Exam Contract of Sale Essay The student is expected to demonstrate deep knowledge in the articles of the Corporation
Code and apply it in various legal situations.
Second Exam Contract of Agency Essay The student is expected to demonstrate deep knowledge in the articles of the Corporation
Code and apply it in various legal situations.
Third Exam Law on Credit Essay The student is expected to demonstrate deep knowledge in the articles of the Corporation
Transaction Code and apply it in various legal situations.

Final Exam Other Legal Issues Essay The student is expected to demonstrate deep knowledge in the articles of the Corporation
Code and apply it in various legal situations.

Law 4 – Sales, Agency, Labor and Other Commercial Law. Rev: June 2017 Page 6
 Department of Accounting Education
LAW 4 – Course Syllabus

11. COURSE OUTLINE AND TIME FRAME

TIME FRAME TOPICS FOR FIRST EXAMINATION TLA Required Readings
Week 1 to Week 3 I. Orientation on classroom  Lecture De leon, H. ( 2013). The Law on
and University Policies and  Seatwork sales, agency, and credit
Grading System  Board
transaction. Manila: Rex
Discussion of PEO, SO computation
Bookstore & Company
and CO
Soriano, F. ( 2014). Sales,
 Contract of sales
agency, & credit transaction: law
 Nature,
characteristics and and application for business
kinds of sale. students. Manila: GIC
 Elements, forms, Enterprises.
requisites and
perfection of a
contract of sale
 Implied and specified
terms
 Distinguished from
- Dacion en pago
- Cession in
payment
- Contract for a
piece of work
- Barter
 Earnest money as
distinguished from
option money
 The seller- his rights
and obligations
 The buyer- his rights
and obligations
 Remedies of unpaid
seller
 Warranties ( in
relation to consumer
laws)
 Sale with the right to
repurchase or
conventional
redemption and legal
redemption
 Sale on credit
 Installment sales
- Personal
property- Recto
Law
- PD 957/
condominium
Act
 Transfer of the
possession of
property

Law 4 – Sales, Agency, Labor and Other Commercial Law. Rev: June 2017 Page 7
 Department of Accounting Education
LAW 4 – Course Syllabus

 Performance
 Remedies

TOPICS FOR SECOND EXAMINATION

Week 4  Contract of Agency,  Lecture De leon, H. ( 2013). The Law on
Pledge and Mortgage  Seatwork sales, agency, and credit
to  Contract of Agency  Board
transaction. Manila: Rex
- Nature, computation
Week 5 Bookstore & Company
characteristics
and kinds of
contract of Soriano, F. ( 2014). Sales,
agency agency, & credit transaction:
- Forms and law and application for business
perfection of a students. Manila: GIC
contract of Enterprises.
agency
- The agent- his
rights and
obligations
- The principal- his
rights and
obligations
- Guaranty of
commission
agents
- Modes of
extinguishments
 Pledge
- Nature and
binding effect on
third party
- Obligations/right
s of pledgor and
pledge
- Pactum
commissiorium
- Modes of
extinguishment
 Mortgage
- Real and chattel
- Nature
TOPICS FOR THIRD EXAMINATION

Law 4 – Sales, Agency, Labor and Other Commercial Law. Rev: June 2017 Page 8
 Department of Accounting Education
LAW 4 – Course Syllabus

Week 6  Law on credit  Lecture De leon, H. ( 2013). The Law on

transaction/ bailment  Seatwork sales, agency, and credit
To  Loan  Board
transaction. Manila: Rex
 Deposit computation
Week 7 Bookstore & Company
 Guaranty
 Pledge Soriano, F. ( 2014).
 Mortgage ( real & Sales, agency, & credit
chattel)
transaction: law and application
- Antichresis
for business students. Manila:
GIC Enterprises.

TOPICS FOR FOURTH EXAMINATION

Week 8  Other laws/ legal
issues
to  Omnibus Investment
Code
Week 9
 Foreign investment Act
 Retail Trade
Liberalization law
 Product liability
 Intellectual property
 Third party rights
 Personal property
 Lecture De leon, H. ( 2013). The Law on
 Seatwork sales, agency, and credit
 Board
transaction. Manila: Rex
computation
Bookstore & Company
Soriano, F. ( 2014). Sales,
agency, & credit transaction:
law and application for business
students. Manila: GIC
Enterprises.

12. TEXTBOOK
De leon, H. ( 2013). The Law on sales, agency, and credit transaction. Manila: Rex Bookstore & Company

13. REFERENCES

a. Soriano, F. ( 2014). Sales, agency, & credit transaction: law and application for business students. Manila:
GIC Enterprises.
b. Aduana, N. ( 2014).Fundamentals of accounting: sole proprietorship accounting for service and
manufacturing. Quezon city: C&E Publishing, Inc.
c. Salas, E. ( 2013). Law dictionary. Manila: Rex Bookstore.
Suarez, C. ( 2014). Law on Partnership & Private Corporation : for business students. Manila: GIC
enterprises.

Online References:

Wollan, R., Jain, N., & Heald, M. (2013). Selling Through Someone Else : How to Use Agile Sales Networks
and Partners to Sell More (1). Somerset, US: Wiley.
Boundy, C. (2016). Business Contracts Handbook. Farnham, GB: Gower.
Saleem, M. Y. (2012). Islamic Commercial Law (1). Somerset, SG: Wiley.

Boundaries of Commercial and Trade Law. (2011). Munchen, DE: sellier european law publishers.
Baamir, A. Y. (2016). Shari’a Law in Commercial and Banking Arbitration : Law and Practice in Saudi Arabia.
Farnham, GB: Routledge.
Private Autonomy in Germany and Poland and in the Common European Sales Law. (2012). Munchen, DE:
sellier european law publishers.

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 Department of Accounting Education
LAW 4 – Course Syllabus

14. COURSE EVALUATION

Assessment methods Weights
EXAMINATIONS 60%
Exam 1-3 ( 10% per exam) 30%
Final Exam 30%
CLASS PARTICIPATIONS 40%
Assignments 5%
Quizzes 10%
Oral Recitation 10%
Requirements 15%
TOTAL 100%

15.POLICIES AND GUIDELINES

1. Attendance is to be CHECKED at all times. Students are expected to attend classes regularly and
participate actively in the discussion. Assignments should be done at home and not inside the classroom.
2. The students’ responsibility is to come to class prepared.
3. Students’ identification card must be worn always when attending classes.
4. The students are expected to take all examinations as scheduled with valid examination permits.
5. Cheating is strictly prohibited and if caught, shall be dealt accordingly.
6. Base 15 grading policy should be observed in computing grades.

Prepared by: References reviewed by:

CHARLES D. FLORES, CPA CMA JENNIFER L. RAMOS

Faculty Chief Librarian

Reviewed by: Recommending Approval:

JEANETH P. TORMIS, CPA, MBA EDUARD L. PULVERA, MSIS

Program Head – DAE Assistant Dean of College

Approved by:

PEDRITO M. CASTILLO II, Ed.D

AVP, Learning Information and Design

Law 4 – Sales, Agency, Labor and Other Commercial Law. Rev: June 2017 Page 10