Coverage for Business Law and Taxation

Class: ENT103

Date: September 8, 2020

Topic: COVERAGE FOR 1st Semester | A.

Y. 2020-2021

I. Module 1
A. INTRODUCTION TO LAW
1. Law defined
2. Divisions of Law
3. Sources of Law
4. Rules in the Interpretation of the Law
5. The Interplay of the Executive, Legislative and Judicial Branches of Government
6. The Judicial Branch- the Hierarchy of Courts
7. Private Law v. Public Law
8. Concepts and Sources of Civil Law
9. Law on Obligations and Contracts
10. Obligations and Contracts vis-a-vis Special Contracts

B. OBLIGATIONS AND CONTRACTS

1. Chapter I- General Provisions -Article 1156 -1162
C. Chapter II-Nature and Effect of Obligations
1. Article 1163-1178

CHAPTER 3-DIFFERENT KINDS OF OBLIGATIONS

SECTION 1 Pure and Conditional Obligations Article 1179 -1192

SECTION 2 Obligations with a Period Article 1193-1198
SECTION 3 Alternative Obligations ARTICLE 1199-1206
SECTION 4 Joint and Solidary Obligations Article 1207- 1222
SECTION 5 Divisible and Indivisible Obligations Article 1223-1225
SECTION 6 Obligations with a Penal Clause Article 1226 -1230

CHAPTER 4- EXTINGUISHMENT OF OBLIGATIONS

General Provisions Article 1231
SECTION 1 Payment or Performance Articles 1232-1251
SUBSECTION 1. Application of Payments Article 1252-1254
SUBSECTION 2. Payment by Cession Article 1255
SUBSECTION 3. Tender of Payment and Consignation Article 1256-1261
SECTION 2 Loss of the Thing Due Article 1262- 1269
SECTION 3 Condonation or Remission of the Debt Article 1270-1274
SECTION 4 Confusion or Merger of Rights Article 1275-1277
SECTION 5 Compensation Article 1278-1290
SECTION 6 Novation Article 1291-1304

Module 2
Title II. - CONTRACTS
CHAPTER 1 GENERAL PROVISIONS Article 1305-1317
CHAPTER 2 ESSENTIAL REQUISITES OF CONTRACTS Articles 1318
SECTION 1. Consent Article 1319-1346
SECTION 2. Object of Contracts Article 1347-1349
SECTION 3. Cause of Contracts Article 1350-1355
CHAPTER 3 FORM OF CONTRACTS Article 1356-1358
CHAPTER 4 REFORMATION OF INSTRUMENTS Article 1359-1369
CHAPTER 5 INTERPRETATION OF CONTRACTS Article 1370-1379
CHAPTER 6 RESCISSIBLE CONTRACTS Article 1380-1389
CHAPTER 7 VOIDABLE CONTRACTS Article 1390-1402
CHAPTER 8 UNENFORCEABLE CONTRACTS Article 1403-1408
CHAPTER 9 VOID AND INEXISTENT CONTRACTS Article 1409-1422

Module 3
Introduction to Business Taxes and Value-Added Tax
Business Taxes Introduction to Business Taxes
Value-added Taxes 1. Concept of Value-Added Tax (VAT)
i. Definition
ii. Scope
iii. Salient Features of RA 9337- The Vat Law
2. VAT on Sale of Goods or Property
i. Sales subject to VAT
ii. Gross Selling price
iii. Tax Base and Rates
iv. Export Sales
v. Foreign Currency Denominated sales
3. VAT on sale of services and lease of property
i. Services subject to VAT
ii. Lease subject to VAT
iii. Gross Receipt
iv. Tax Base and Rates
v. Zero-rated sales
4. VAT on Importation of Goods
i. Importation subject to VAT
5. Computations of VAT Payable
i. Output Tax
ii. Input Tax
iii. VAT Payable
6. VAT-Exempt Transactions
i. Exempt v. Zero-rated Transactions
ii. VAT Exempt Transactions