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Syllabus Business Law & Regulations

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QUEZON CITY UNIVERSITY
COLLEGE OF ACCOUNTANCY
BACHELOR OF SCIENCE IN ACCOUNTANCY
COURSE TITLE
COURSE CODE
NUMBER OF UNITS
PRE-REQUISITE COURSE
:
:
:
:
Business Law and Regulations
ACCLAW 2
3 units
ACCLAW 1
COURSE DESCRIPTION:
This course is intended to give the students a broad knowledge of legal provisions
governing business associations - limited liability company, partnership, and corporations. Topics
include: nature of partnerships; elements and kinds of partnership; formalities required; rules of
management, distribution of profits, and sharing of losses and liabilities; modes of dissolution;
limited partnership; nature and classes of corporations; requirements for incorporation; powers of
a corporation (expressed, implied, and incidental); Board of Directors; classes of stock; powers
and obligations of stockholders; majority and minority controls; corporate reorganization
(mergers, consolidations, and other business combinations); modes of dissolution and liquidation;
and statutory books, records, and returns required for a corporation. Also discussed are the laws of
associations such as clubs.
COURSE LEARNING OUTCOMES:
After successful completion of this course, the student is expected to:
A. Cognitive
1. discuss the processes, permits and other documentary requirements for the formation of a
new business.
2. explain the concept and consequences of legal personality of partnerships and
corporations.
3. Manifest understanding of the nature and differences of the different business
organizations.
4. Determine the basic rules which regulate business organizations and why particular
business forms may be advantageous in certain circumstances
B. Psychomotor
1. performs discuss the procedures for the formation, operation, dissolution and liquidation
of partnerships and private corporations.
2. Identify the different government offices or agencies involved in these requirements or for
the regular renewal and/or submission of the necessary reporting requirements
C. Affective
1. exhibit the University’s core values of nationalism and integrity in transactions involving
business organizations .
Textbooks and references:
1. The Law on Partnership and Corporations, 2019 Edition, Hectos S. De Leon
2. The Law on Sales, Bailments ang Agency, 2019, Hector S. De Leon
3. The Law on Negotiable Instruments, 2019, Hector S. De Leon
4. The Law on Partnership and Corporations, 2017, Fidelito R. Soriano
5. Web-Based Learning Materials on Cooperatives, Banking Laws, AMLA,PDIC, and other
related laws.
Requirements:
1. Class Participation
2. Quiz/Recitation/Assignments/Seatwork/Output
3. Major Examination
DETAILED COURSE OUTLINE
Week
1–2
Hours
6.0
Topic
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Sales, its nature, form and its
requisites. Obligations and
Rights of Vendor and Vendee.
Earnest money vs. Option
Money.
Warranties in relations to
consumer law.
Modes of Extinguishment of
Sales.
Instalment Sales, Rights and
remedies of seller.
Learning Outcomes
 Explain the nature, form and requisites of sales.
 Distinguish earnest money from option money.
 Explain the rights and obligations of a vendor
and vendee.
 Describe warranties in relations to consumer law
 Explain instalment sales, rights and remedies of
sales.
Strategies/
Activities
Lecture.
Discussion of students’
reaction.
Assessment of
Learning
Outcomes
Recitation on the
topic.
Quiz on the
topic.
Discussion of solutions of
solutions to the case
problem.
Power point presentation of
student on the topics
assigned.
Student presentation of
current issues on legal
systems with video clips.
3-4
6.0

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
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
Real Mortgage
Chattel Mortgage
Common Rules on Mortgages.
Obligations of Pledgor/Pledgee
Obligations of
Mortgagor/Mortgagee
 Explain the nature of mortgages.
 Describe the requirements to bind the parties and
third persons.
 Identify the obligations and rights of pledgor and
pledgee.
Lecture.
Recitation on the
topic.
Discussion of students’
reaction.
Quiz on the
topic.


Pactum Commissorium.
Modes of extinguishment of
Mortgages.
 Identify the obligations of mortgagor and
mortgagee (effect of pactum commissorium).
 Describe the modes of extinguishment.
Discussion of solutions of
solutions to the case
problem.
Power point presentation of
student on the assigned
topics
5–6
6.0
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Insolvency.
Suspension of Payment.
Involuntary insolvency.
Corporate Rehabilitation.
Stay Order.
Duties of Receiver.
Rehabilitation Plan.
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Define insolvency.
Describe suspension of payment.
Describe and explain voluntary insolvency.
Describe and define corporate rehabilitation and
other terms.
 Identify the grounds for stay order.
 Describe the duties of the receiver.
 Describe the contents of the Rehabilitation Plan.
Describe the contents of petition and other types of
Rehabilitation
Student presentation of
current issues on Ethics
and Law with video clips.
Lecture.
Discussion of students’
reaction.
Discussion of solutions of
solutions to the case
problem.
Power point presentation of
student on the topic
assigned
Presentation of case study
or current issues on the
types of business
organization
Recitation on the
topic.
Quiz on the topic
7
3.0
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Negotiable Instruments
Requisites of Negotiability
Negotiation; Kinds
Kinds of Endorsers.
Discharged of Instruments.
 Describe the negotiability of instruments.
 Explain abnormal negotiable instruments.
Lecture.
Discussion of students’
reaction.
Recitation on the
topic.
Quiz on the topic
Discussion of solutions of
solutions to the case
problem.
Power point presentation of
student on the topic
assigned
8
3.0
Anti-Bouncing Checks Law; BP22
 Describe checks without insufficient funds.
 Identify the evidence of knowledge of
insufficient funds.
 Explain the credit construed
Presentation of case study
or current issues on
business crimes
Lecture.
Discussion of students’
reaction.
Discussion of solutions of
solutions to the case
problem.
Power point presentation of
student on the topic
assigned
Recitation on the
topic.
Quiz on the topic
Active participation of
students and professor
Presentation of case study
or current issues
9
10 -12
3.0
9.0
MIDTERM EXAMINATION
 Partnership.
 Kinds of Partnership and
Partners.
 Elements of a Partnership.
 Rules of management
 Explain the distribution of
profits and losses;
 Modes of extinguishing a
partnership.
 Limited Partnership.
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Explain Partnership.
Distinguish the nature from corporation.
Distinguish the elements and kinds.
Explain the formalities required.
Identify the rules of management.
Explain the distribution of profits and losses.
Explain the sharing of losses and liabilities.
Describe the modes of retirement
requirement.
Identify limited partnership.
Lecture.
Discussion of students’
reaction.
Recitation on the
topic.
Quiz on the topic
Discussion of solutions of
solutions to the case
problem.
Power point presentation of
student on the topic
assigned
Active participation of
students and professor

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
Corporation
Kinds of corporations
Incorporation, promotion, and
organization.
Powers of a corporation.
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
Describe the nature and classes of
corporation.
Describe the incorporation and organization
of private corporations.
Enumerate the powers of a corporation.
Presentation of case study
or current issues
Lecture.
Discussion of students’
reaction.
Recitation on the
topic.
Quiz on the topic
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13-14
6.0
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The Board of
Directors/Trustees.
Corporate Officers.
Classification of shares of
stocks.
Majority and minority control.
By-Laws
Meetings
Corporate reorganization
Modes of dissolution
Corporate books.
Concepts and Classification of
cooperatives
Administration
Rights and privileges of
cooperatives.
Capital property of funds.
Classification of cooperatives
Merger and consolidation of
cooperatives.
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Identify the Board of Directors and
Corporate Officers.
Distinguish the classes of stocks.
Describe the powers, duties, rights and
obligations.
Distinguish majority and minority control.
Describe the By-laws.
Explain the meetings .
Explain corporate reorganization
effects of obligations.
Describe non-stock corporation.
Explain the modes of dissolution
Explain foreign corporations.
Describe the kinds and availability of
corporate books.
Describe Organization and Registration of
Cooperatives.
Explain Administration.
Describe the responsibilities, Rights and
Privileges of Cooperatives.
Explain capital property of funds
Explain audit inquiry and members right to
examine.
Describe allocation and Distribution of
Funds.
Enumerate the types and categories of
corporation.
Discussion of solutions of
solutions to the case
problem.
Power point presentation of
student on the topic
assigned
Active participation of
students and professor
Presentation of case study
or current issues
Lecture.
Discussion of students’
reaction.
Discussion of solutions of
solutions to the case
problem.
Power point presentation of
student on the topic
assigned
Recitation on the
topic.
Quiz on the topic
15-17
9.0
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PDIC Law
Insurable Deposits
Maximum Liability
Requirements of claims
Secrecy of Bank Deposits
Unclaimed Balances Law .
Banking Laws
Different kinds of loans
AMLA Laws
covered transactions,
suspicious transactions and
reportorial requirements

Explain merger and consolidation of
cooperatives.
Active participation of
students and professor

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
Law on Business Transactions.
PDIC Law
Explain Insurable Deposits.
Explain Maximum Liability.
Enumerate the requirements of claims.
Secrecy of Bank Deposits and Unclaimed
Balances Law.
Explain the secrecy of Bank deposits.
Explain unclaimed balances.
General Banking Law
Rules on Banks
Describe and explain different kinds of
loans.
AMLA Law
Describe covered transactions.
Describe suspicious transactions
Enumerate reportorial requirements.
The New Central Bank Act
Explain legal tender power over coins and
notes.
Explain conservationist.
Explain receivership and closure. Exclusion
clauses.
Lecture.
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18
3.0
FINAL EXAMINATION
Discussion of students’
reaction.
Discussion of solutions of
solutions to the case
problem.
Power point presentation of
student on the topic
assigned
Active participation of
students and professor
Recitation on the
topic.
Quiz on the topic
EXPECTATIONS FROM STUDENTS:
1. The student is responsible to come to each class prepared.
2. The student is expected to take all examinations on the date scheduled.
3. The student is expected to read the assigned chapter and solve exercises/problems prior to
Class.
4. The student is expected to attend each class and participate actively in the discussions.
5. The student is expected to do the seatwork/exercises that will be assigned by the instructor
inside the classroom.
ACADEMIC DISHONESTY:
Academic dishonesty is subject to University’s rules and regulations.
POLICY on ABSENCES:
1. Missed Classes: Students who miss class are responsible for content. Any student who
misses a class has the responsibility for obtaining copies of notes, handouts, assignments,
etc. If additional assistance is still necessary, an appointment should be scheduled with the
instructor. Class time is not to be used to go over material with students who have missed
class.
2. Incurrence of three tardiness is equal to one absence.
3. Incurrence of three consecutive absences is considered unauthorized dropped.
4. Incurrence of four absences is considered unauthorized dropped.
GRADING SYSTEM:
Midterm Grade (MG)
Midterm Exam
Class Standing
Assignment
Recitation
Test/Quiz
Output/Seatwork
40%
60%
10%
10%
20%
20%
Pre-Final Grade (PFG)
Final Exam
Class Standing
Assignment
10%
Recitation
10%
Test/Quiz
20%
Output/Seatwork 20%
40%
60%
100%
100%
Final Grade (FG)= (MG + PFG) / 2
GRADE
POINT
Equivalent
REMARKS
GRADE
POINT
Equivalent
REMARKS
98-100
1.00
Excellent
77-79
2.75
Satisfactory
95-97
1.25
Excellent
75-76
3.00
Passed
92-94
1.50
Very Good
Below 75
5.00
Fail
89-91
1.75
Very Good
INC
Incomplete
86-88
2.00
Good
OD
Officially Dropped
83-85
2.25
Good
UD
Unofficially Dropped
80-82
2.50
Satisfactory
Prepared by:
Approved by:
Noted by:
ATTY. ROMEO DC. GALVEZ, CPA
Dr. Gerardo T. Bautista, CPA
Acting Dean
Dr. Glenda A. Rebucas
Acting VP for Academics
Faculty Member
I have read the course syllabus and I understand that I have to comply with the requirements of
the course and the expectations from me as a student of ______________ during the __ Semester
of _________. I am fully aware of the consequences of non-compliance with the abovementioned requirements and expectations.
________________________________
Printed name and signature of student
________________________________
Date
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