BAR EXAMINATION 2006 MERCANTILE LAW
17 September 2006
8 A.M. - 12 Noon
INSTRUCTIONS This questionnaire consists of sixteen 16! numbers containe" in ei#ht 8! pa#es. $ea" each question %er& carefu''&. Ans(er legibly, clearly, an" concisely. Start each number on a separate pa#e) an ans(er to a sub-question un"er the same number ma& be (ritten continuous'& on the same pa#e an" imme"iate'& succee"in# pa#es unti' comp'ete". *o not repeat the question. A mere +,es+ or +No+ ans(er (ithout an& correspon"in# "iscussion (i'' not be #i%en an& cre"it. -AN* .N ,/0$ N/T12//3 4.T- T-.S 501ST./NNA.$1 6//* 7083999
Si#ne" ANGELINA S. GUTIERREZ Chairperson 20006 Bar Examination Committee
:71AS1 8-183 T-1 N0M21$ /; :A61S .N T-.S S1T 4A$N.N6< N/T ;/$ SA71 /$ 0NA0T-/$.=1* 0S1 MERCANTILE LAW -.1. 2. A. 4hat is the "octrine of +piercin# the %ei' of corporate entit&>+ 1xp'ain 2.?@ To (hat circumstances (i'' the "octrine app'&> 2.?@ 4hat is the minimum an" maximum number of incorporators require" to incorporate a stocB corporation> is this a'so the same minimum an" maximum number of "icrectors require" in a stocB corporation> 2.?@ Must a'' incorporators an" "irectors be resi"ents of the :hi'ippines> 2.?@
C.
- .. *iscuss the 'e#a' consequences (hen a banB honors a for#e" checB. ?@ - ... Dun (as about to 'ea%e for a business trip. As his usua' practiceE he si#ne" se%era' b'anB checBs. -e instructe" $uthE his secretar&E to fi'' them as pa&ment for his ob'i#ations. $uth fi''e" one checB (ith her name as pa&eeE p'ace" :A0E000.00 thereonE en"orse" an" "e'i%ere" it to Marie. She accepte" the checB in #oo" faith as pa&ment for #oo"s she "e'i%ere" to $uth. 1%entua''&E $uth re#rette" (hat she "i" an" apo'o#iFe" to Dun. .mme"iate'& he "irecte" the "ra(ee banB to "ishonor the checB. 4hen Marie encashe" the checB. it (as "ishonore". 1. 2. .s Dun 'iab'e to Marie> ?@ Supposin# the checB (as sto'en (hi'e in $uthGs possession an" a thief fi''e" the b'anB checBE en"orse" an" "e'ib%ere" it to Marie in pa&ment for the #oo"s he purchase" from herE is Dun 'iab'e to Marie if the checB is "ishonore"> ?@ - .H $u"& is Iob'ess but is repute" to be a Iueten# operator. -e has ne%er been char#e" or con%icte" of an& crime. -e maintains se%era' banB accounts an" has purchase" ? houses an" 'ots for his chi'"ren from the 7uansin# $ea't& . .nc. Since he "oes not ha%e an& %isib'e IobE the compan& reporte" his purchases to the Anti-Mone& 7aun"erin# 8ounci' AM78!. ThereafterE AM78 char#e" him (ith %io'ation of the Anti-Mone& 7aun"erin# 7a(. 0pon request of the AM78E the banB "isc'ose" to it $u"&Gs banB "eposits amountin# to :100 Mi''ion. Subsequent'&E he (as char#e" in court for %io'ation of the Anti-Mone& 7aun"erin# 7a(. 1. 2. 8an $u"& mo%e to "ismiss the case on the #roun" that he has no crimina' recor"> 2.?@ To raise fun"s for his "efenseE $u"& so'" the houses an" 'ots to a frien". 8an 7uansin# $ea't&E .nc. be compe''e" to transfer to the bu&er o(nership of the houses an" 'ots> 2.?@ .n "isc'osin# $u"&Gs banB accout<!ts to the AM78E "i" the banB %io'ate an& 'a(> 2.?@ Supposin# the tit'es of the houses an" 'ots are in possession of the 7uansin# $ea't& . .nc.E is it un"er ob'i#ation to "e'i%er the tit'es to $u"&> 2.?@ -HThe :eninsu'a .nsurance 8ompan& offere" to insure ;rancisG bran" ne( car a#ainst a'' risBs in the sum of :1 Mi''ion for 1 &ear. The po'ic& (as issue" (ith the premium fixe" at :60E000.00 pa&ab'e in 6 months. ;rancis on'& pai" the first t(o months insta''ments. *espite "eman"sE he fai'e" to pa& the subsequent insta''ments. ;i%e months after the issuance of the po'ic&E the %ehic'e (as carnappe". ;rancis fi'e" (ith the insurance compan& a c'aim for its %a'ue. -o(e%erE the compan& "enie" his c'aim on the #roun" that he fai'e" to pa& the premium resu'tin# in the cance''ation of the po'ic&. 8an ;rancis reco%er from the :eninsu'a .nsurance 8ompan&> ?@
A. C.
- H. 1. .n se%era' po'ic& a""resses extensi%e'& co%ere" b& me"ia since his appointment on *ecember 21E 200?E 8hief Dustice Artemio H. :an#aniban %o(e" to 'ea%e a Iu"iciar& characteriFe" b& +four .ns+ an" to focus in so'%in# the +four A8.*+ prob'ems that corro"e the a"ministration of Iustice in our countr&. 1xp'ain this +four .ns+ an" +four A8.*+ prob'ems. 2.?@ 2. The 8hief Dustice a'so sai" that the Iu"iciar& must +safe#uar" the 'ibert&+ an" +nurture the prosperit&+ of our peop'e. 1xp'ain this phi'osoph&. 8ite *ecisions of the Supreme 8ourt imp'ementin# each of these t(in beacons of the 8hief Dustice. 2.?@ - H.. 1. 2. 4hat is a mutua' insurance compan& or association> 2.?@ *istin#uish bet(een the ro'e of a conser%ator an" that of a recei%er of a banB. 2.?@ - H... :io is the presi"ent of 4estern 2anB. -is (ife app'ie" for a 'oan (ith the sai" banB to finance an internet cafe. The 'oan officer to'" her that her app'ication (i'' not be appro%e" because the #rant of 'oans to re'ate" interests of banB "irectorsE officersE an" stocBho'"ers is prohibite" b& the 6enera' 2anBin# 7a(. 1xp'ain (hether the 'oan officer is correct. ?@ - .J The 2'ue Star 8orporation fi'e" (ith the $e#iona' Tria' 8ourt a petition for rehabi'itation on the #roun" that it foresa( the impossibi'it& of pa&in# its ob'i#ations as the& fa'' "ue. ;in"in# the petition sufficient in form an" substanceE the court issue" an /r"er appointin# a rehabi'itation recei%er an" sta&in# the enforcement of a'' c'aims a#ainst the corporation. 4hat is the rationa'e for the Sta& /r"er> ?@ -J1. 2. 4hat acts or omissions are pena'iFe" un"er the Trust $eceipts 7a(> 2.?@ .s 'acB of intent to "efrau" a bar to the prosecution of these acts or omissions> 2.?@ - J. 0n"er $epub'ic Act No.1C0? The 2anB Secrec& 7a(!E banB "eposits are consi"ere" abso'ute'& confi"entia' an" ma& not be examine"E inquire" or 'ooBe" into b& an& personE #o%ernment officia'E bureau or office.
4hat are the exceptions> ?@ - J.. 1. .s the Securities an" 1xchan#e 8ommission the %enue for actions in%o'%in# intracorporate contro%ersies> 2@ - J... Supposin# A'bert 1instein (ere a'i%e to"a& an" he fi'e" (ith the .nte''ectua' :ropert& /ffice .:/! an app'ication for patent for his theor& of re'ati%it& expresse" in the formu'a 1Kmc2. The .:/ "isappro%e" 1insteinGs app'ication on the #roun" that his theor& of re'ati%it& is not patentab'e. .s the .:/Gs action correct> ?@ - J.H .n a (ritten 'e#a' opinion for a c'ient on the "ifference bet(een apprenticeship an" 'earnershipE 7iFa quote" (ithout permission a 'abor 'a( expertGs comment appearin# in his booB entit'e" +Annotations on the 7abor 8o"e.+ 8an the 'abor 'a( expert ho'" 7iFa 'iab'e for infrin#ement of cop&ri#ht for quotin# a portion of his booB (ithout his permission> ?@ - JH A rea' estate mort#a#e ma& be forec'ose" Iu"icia''& or extraIu"icia''&. .n (hat instance ma&a mort#a#ee extraIu"icia''& forec'ose a rea' estate mort#a#e> ?@ - JH. :ursuant to a (rit of execution issue" b& the $e#iona' Tria' 8ourt in +1xpress 2anB %. *on $ubioE+ the sheriff 'e%ie" an" so'" at pub'ic auction 8 photocop&in# machines of *on $ubio. .s the sheriffGs sa'e co%ere" b& the 2u'B Sa'es 7a(> ?@ NOTHIN !O""O#$.
