BL 105 - Law on Sales, Agency and Credit Transactions
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The course covers sales transactions including its nature, forms, and requisites distinguished from related contracts; rights and obligations of vendor/vendee and their respective remedies. It also covers the law on agency; its nature, form, and kinds, modes of extinguishments and rights and obligations of principal and agent. Also discussed are contracts on credit transactions such as loan, deposit, guarantee, pledge, real mortgage, antichresis, and chattel mortgage.
Course Description:
The course covers sales transactions including its nature, forms, and requisites distinguished from related contracts; rights and obligations of vendor/vendee and their respective remedies. It also covers the law on agency; its nature, form, and kinds, modes of extinguishments and rights and obligations of principal and agent. Also discussed are contracts on credit transactions such as loan, deposit, guarantee, pledge, real mortgage, antichresis, and chattel mortgage.
Number of Units: Three (3)
Pre-requisite Subject: Obligations and Contracts
Course Objective:
At the end of the course, the student is expected to:
1. Have knowledge of the general provisions of the laws affecting sales, agency and credit transactions.
2. Have knowledge of legal bases of accounting transactions as they relate to sales, agency and credit transactions.
Textbook: De Leon, H.S. (1999), the Law on Sales, Agency and Credit Transactions. Rex Printing Company, Quezon City
Course Requirement: All school requirements must be complied with. Passing grade is 81% (raw score)
Grading System:
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PREX
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FIX
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Average quizzes
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20%
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25%
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Attendance, class behaviour, class participation
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5%
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5%
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Formal examinations
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20%
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25%
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Total
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45%
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45%
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Schedule of Quizzes
1st Nov 23 (Fri) 4th Feb 6 (Wed)
2nd Dec 14 (Fri) 5th Feb 22 (Fri)
3rd Jan 11 (Fri) 6th Mar 7 (Fri)