College of Business \and Accountancy I. II. III.

Course Number Course Title Credits : : : LAW 3

Law on Sales, Agency and Credit Trqansations 3 units : Law 1

IV. Prerequisite

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 payment, 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, form and kinds; obligation of the agent and the principal; and modes of extinguishments. Also discussed are employment contracts and 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 law on investments likewise discussed.

V.

Course Rationale : Cash inflow from operations is mainly generated by sales, therefore it matters to know the provisions affecting the contract of sale as well as agency and bailments.

VI. Course Objectives

A. General Objective : At the end of the course, the students are expected to interpret the implications of the provisions affecting the contract of sales. B. Specific Objectives :

Cognitive : Express ideas effectively of the general provisions of the law affecting sales, agency and bailments. Affective : Psychomotor Specific Objectives Integrate the values of honesty and integrity in interpreting the provisions of the law. : Handle simple cases on sales, agency and bailments.. Values Integrated Strategies/ Instructio Teaching nal Methodol Materials ogy Lectures Case analysis Board Work Books Newspaper s Supreme Court Records Annotated Evaluati on Time frame Expected Output

Subject Matter

Enumerate the effects 1. Sales when the thing sold has 1.1 Nature and form been lost. of contracts 1.2 Capacity to buy or sell 1.3 Effects of the contract when the

Appreciatio n of the contract of sale.

Quiz 1st to Recitatio 9th n Week Seatwork

Enumerated the effects when the thing sold has been lost. Listed the

List the obligations of the vendor. Cite the obligations of the vendee. COMMUNITY SERVICE INTEGRATION Explain the actions, which are considered as breach of contracts.

thing sold has been lost 1.4 Obligations of the vendor 1.5 Obligations of the vendee 1.6 Actions for breach of contract of sale of goods 1.7 Extinguishments of sale 1.8 Assignment of credits and other incorporeal rights MID-TERM EXAMINATION

Honesty in the execution of contract of sale.

(SCRA) Phil. Reports

obligations of the vendor. Cited the obligations of the vendee. Explained the actions, which are considered as breach of contracts.

Integrity Honesty

Case Analysis

Illustrate the nature, form and kinds of agency. 2. Agency 2.1 Nature, form and Compare the obligation of kinds of agency the agent from the 2.2 Obligation of the obligation of the principal. agent Enumerate the different 2.3 Obligation of the

Compilati on of Books case 11th to Newspaper 18th Illustrated the s week nature, form Supreme and kinds of Court agency. Records Annotated Compared the (SCRA) obligation of Phil. the agent

modes of extinguishing an agency.

principal 2.4 Modes of extinguishments of agency Appreciatio n Lectures Case analysis Board Work

Reports

Quiz Recitatio n Seatwork

from the obligation of the principal. Enumerated the different modes of extinguishing an agency. Discussed the provisions common to pledges and mortgages.

Discuss the provisions common to pledges and Reliability mortgages. 3. Pledges and Mortgages 3.1 Provision common to pledge and mortgages COMMUNITY SERVICE 3.2 Pledge Honesty INTEGRATION 3.3 Mortgage 3.4 Chattel Provide opportunity to Mortgage students to know how the different special contracts operate within the community. Provisions of special

Books Newspaper s Supreme Court Records Annotated (SCRA) Compilat Phil. ion of Actual Reports solved Case cases Analysis along on Sales, sales, Agency, Books agency, Loan and Newspape loan and Mortgage rs mortgage Supreme

Provided opportunity to students to know how the different

contracts

Court Records Annotated (SCRA) Phil. Reports

special contracts operate within the community

FINAL EXAMINATION VI. Grading System: MIDTERMS FINALS CLASS STANDING 30% CLASS STANDING 30% QUIZZES 30% QUIZZES 30% MIDTERM EXAM 40% FINAL EXAM 40% MIDTERM GRADE 100% FINAL GRADE : MIDTERM VII. Course Policies: Policies on attendance and academic dishonesty are found in the Student Handbook. PRE-FINAL GRADE 50% + 100% 100%

PRE-FINAL GRADE 50% =

In case of missed examination and assignments, the student is given the chance to make-up within a week from the day he/she reported, otherwise, it will be equivalent to 50%. VIII. References: Hector de Leon. Law on Sales, Agency and Bailments Carlos Suarez. Law on Sales, Agency, Pledge and Mortgages