Course Name: XOBLICON

Course Title: Law On Obligations And Contracts

Instructors: Abrea, Akia, Cayabyab, De Vota, Langit, Lopez, Reyes, Salonga and Umadhay

Required Text: The Law on Obligations and Contract, latest edition, De Leon, Hector S.

Course Description: This course gives the student an understanding of the legal concepts, theories and rules governing the law of obligations and contracts which are encountered by students depending on their major of specialization. Application of these concepts to practical problems and definition and identification of theories for board examination purposes for accounting majors. And together with other areas for other courses which are to be applied in their work. It focuses on discussion and definition of the nature, sources, kinds, and extinguishments of an obligations and contracts including defective contracts and other miscellaneous topics relevant to the Law of Obligations and Contracts and other related business law subjects. At the end of the course, the students are expected to understand and define legal concepts, theories and rules, procedures in entering, demanding and fulfilling an obligation and likewise to have competence in preparation, interpretation, understanding and presentation of obligations and contracts.

Topic Outline: Estimated No of Hours

1. General legal concepts of enforceable rights and obligations 3.00

2. Types of Laws 4.00  Constitutional laws  Administrative laws and regulations  Criminal laws  Civil laws

3. Sources of obligations and their concepts 5.00  Law  Cotracts  Quasi-contracts  Delicts  Quasi-delicts

4. National legal system 5.00  The system of courts and the administration of justice  Case laws and/or legislation and regulations affecting enterprises  Precedents and statutory interpretations

5. The nature, purpose, scope and key 8.00 principles of national legislation, directives and case law  Kinds of obligations in general under the Civil Code  Duties of the obligor in obligation to do or not to do

6. Extinguishment of obligation with special emphasis 9.00  Payment of debts of money  Mercantile documents as means of payment  Special forms or modes of payment  Remission or condonation, confusion, compensation and novation

7. Contracts 9.00  Concepts and classification  Elements and stages  General principles of the law of contracts  Formation of a contract  Contract contents and terms, including exclusion clauses  Discharge of a contract  Remedies for failure to perform contract terms  Freedom from contract and limitation

8. Persons bound 8.00  Consent  Objects of contracts  Considerations of contracts  Formalities of contracts  Interpretation and reformation of contract  Defective contracts

Total Sessions Express As Contact Hours 54

Recap

Identification of CPC Topics Covered in this Course Estimated Contact Hours Accounting 5 Marketing 1 Finance 7 Management 5 Organizational Behavior 5 Human Resource Management 1 Operations Management 1 Legal Environment of Business 40 Economics 1 Ethics 2 Information System 1 Quantitative Methods/ Statistics 1 International/ Global Dimensions of Business 2 Integrative Experience 3 Total Estimated Contact Hours 75