Corporate and Investments
Special Visa for Employment Generation (SVEG): A Primer
Thursday, November 20th, 2008On 17 November 2008, President Gloria Macapagal-Arroyo issued Executive Order No. 758 (full text), providing for a Special Visa for Employment Generation (SVEG) that would allow foreign investors to stay indefinitely in the Philippines under certain re…
Cooperatives in the Philippines: An Introduction
Thursday, October 16th, 2008A cooperative is a duly registered association of persons with a common bond of interest, who have voluntarily joined together to achieve a lawful common social or economic end, making equitable to contribution to the capital required and accepting a f…
Primer on the Tax Amnesty Act of 2007 (RA 9480)
Thursday, April 17th, 2008What is Republic Act No. 9480?
It is a law, referred to as the “Tax Amnesty Act of 2007,” passed by Congress granting amnesty to all unpaid internal revenue taxes imposed by the national government for the taxable year 2005 and prior years….
RA 9184 or The Government Procurement Reform Act of 2003: Boon or Bane?
Friday, March 28th, 2008By: ACA Nimfa Cuesta Vilches*
The procurement (acquisition of goods, services and contracting for infrastructure project) law was enacted to lay down rules and regulations and to modernize, standardize, and regulate the procurement activities of the go…
The Basic Elements of Contracts
Friday, January 18th, 2008If a contract brings you to court, it’s a poorly-prepared contract. The rationale for this statement is this - if the rights and obligations of the parties are clearly provided and defined, there’s a lesser chance of misinterpretation. This…
Forms of Business: Sole Proprietorship, Partnership, Corporation
Monday, December 17th, 2007After deciding to start a business (and the particular business to pursue), one of the important issues is the form of business entity that will serve as the vehicle in pursuing the business. You may say that the next important issue is the source of f…
Basics of the Lending Company Regulation Act of 2007 (RA 9474)
Sunday, December 9th, 2007On 22 May 2007, Republic Act No. 9474, also known as the “Lending Company Regulation Act of 2007,” was approved. The law is consistent with the delcared policy of the State to regulate the establishment of lending companies and to place their opera…
The Truth in Lending Act explained
Monday, October 8th, 2007What is the “Truth in Lending Act”?
It is Republic Act No. 3765, which is an act requiring the disclosure of finance charges in connection with the extention of credit.
What is the policy behind the Truth in Lending Act?
The declared policy…
R.A. 9492 - holiday economics, movable holidays
Thursday, July 26th, 2007Maybe you’ve heard of the new law (Republic Act No. 9492) that seeks to “rationalize” the celebration of national holidays in the Philippines. The new law makes majority of the holidays “movable” to Mondays. In the event t…
Spouses Raymundo et. al. vs. Spouses Bandong (G.R. No. 171250, July 4, 2007) - Digest
Tuesday, July 24th, 2007Facts : Eulalia Raymundo (Eulalia) was engaged in the business of buying and selling large cattle for which she employed “biyaheros” whose task involved the procuring of large cattle with the financial capital provided by petitioner and deliverin…
Criminal Cases and Insolvency
Monday, June 25th, 2007I often come across debtors dropping the hint of filing, or actually filing, a case for insolvency or bankruptcy just to bring home the (alleged) point that they have nothing more to cough out. It is true that once a petition for insolvency is granted,…
Additional Rules on Temporary Restraining Orders (TRO) on Foreclosures of Real Estate Mortgage
Monday, February 26th, 2007(This is a news release courtesy of the Supreme Court website. We’ll have an extended discussion on this subject matter as soon as we get a copy of the resolution).
The Supreme Court has issued additional guidelines on the issuance of temporary r…
“No Return, No Exchange” store policy prohibited
Wednesday, November 8th, 2006Q: What is the legal basis of the prohibition on “No Return, No Exchange” Policy of business establishments?
A: Pursuant to the Implementing Rules and Regulations of R.A. 7394, or the Consumer Act of the Philippines, specifically Title III,…