QUEZON CITY UNIVERSITY

COLLEGE OF ACCOUNTANCY

BACHELOR OF SCIENCE IN ACCOUNTANCY

COURSE TITLE : Business Law and Regulations

COURSE CODE : ACCLAW 2
NUMBER OF UNITS : 3 units
PRE-REQUISITE COURSE : ACCLAW 1

COURSE DESCRIPTION:

This course is intended to give the students a broad knowledge of legal provisions
governing business associations - limited liability company, partnership, and corporations. Topics
include: nature of partnerships; elements and kinds of partnership; formalities required; rules of
management, distribution of profits, and sharing of losses and liabilities; modes of dissolution;
limited partnership; nature and classes of corporations; requirements for incorporation; powers of
a corporation (expressed, implied, and incidental); Board of Directors; classes of stock; powers
and obligations of stockholders; majority and minority controls; corporate reorganization
(mergers, consolidations, and other business combinations); modes of dissolution and liquidation;
and statutory books, records, and returns required for a corporation. Also discussed are the laws of
associations such as clubs.

COURSE LEARNING OUTCOMES:

After successful completion of this course, the student is expected to:

A. Cognitive
1. discuss the processes, permits and other documentary requirements for the formation of a
new business.
2. explain the concept and consequences of legal personality of partnerships and
corporations.
3. Manifest understanding of the nature and differences of the different business
organizations.
4. Determine the basic rules which regulate business organizations and why particular
business forms may be advantageous in certain circumstances

B. Psychomotor
1. performs discuss the procedures for the formation, operation, dissolution and liquidation
of partnerships and private corporations.
2. Identify the different government offices or agencies involved in these requirements or for
the regular renewal and/or submission of the necessary reporting requirements

C. Affective
1. exhibit the University’s core values of nationalism and integrity in transactions involving
business organizations .

Textbooks and references:

1. The Law on Partnership and Corporations, 2019 Edition, Hectos S. De Leon
 2. The Law on Sales, Bailments ang Agency, 2019, Hector S. De Leon
3. The Law on Negotiable Instruments, 2019, Hector S. De Leon
4. The Law on Partnership and Corporations, 2017, Fidelito R. Soriano
5. Web-Based Learning Materials on Cooperatives, Banking Laws, AMLA,PDIC, and other
related laws.

Requirements:
1. Class Participation
2. Quiz/Recitation/Assignments/Seatwork/Output
3. Major Examination
DETAILED COURSE OUTLINE

Week Hours Topic Learning Outcomes Strategies/ Assessment of

Activities Learning
Outcomes
1–2 6.0  Sales, its nature, form and its  Explain the nature, form and requisites of sales. Lecture. Recitation on the
requisites. Obligations and  Distinguish earnest money from option money. topic.
Rights of Vendor and Vendee.  Explain the rights and obligations of a vendor Discussion of students’
 Earnest money vs. Option and vendee. reaction. Quiz on the
Money.  Describe warranties in relations to consumer law topic.
 Warranties in relations to  Explain instalment sales, rights and remedies of Discussion of solutions of
consumer law. sales. solutions to the case
 Modes of Extinguishment of problem.
Sales.
 Instalment Sales, Rights and Power point presentation of
remedies of seller. student on the topics
assigned.

Student presentation of
current issues on legal
systems with video clips.

3-4 6.0  Real Mortgage Recitation on the

 Explain the nature of mortgages. Lecture. topic.
 Chattel Mortgage
 Describe the requirements to bind the parties and
 Common Rules on Mortgages.
third persons. Discussion of students’ Quiz on the
 Obligations of Pledgor/Pledgee
 Identify the obligations and rights of pledgor and reaction. topic.
 Obligations of
pledgee.
Mortgagor/Mortgagee
  Pactum Commissorium.  Identify the obligations of mortgagor and Discussion of solutions of
 Modes of extinguishment of mortgagee (effect of pactum commissorium). solutions to the case
Mortgages.  Describe the modes of extinguishment. problem.

Power point presentation of

student on the assigned
topics

Student presentation of
current issues on Ethics
and Law with video clips.
5–6 6.0  Insolvency.  Define insolvency. Lecture. Recitation on the
 Suspension of Payment.  Describe suspension of payment. topic.
 Involuntary insolvency.  Describe and explain voluntary insolvency. Discussion of students’
 Corporate Rehabilitation.  Describe and define corporate rehabilitation and reaction. Quiz on the topic
 Stay Order. other terms.
 Duties of Receiver.  Identify the grounds for stay order. Discussion of solutions of
 Describe the duties of the receiver. solutions to the case
 Rehabilitation Plan.
problem.
 Describe the contents of the Rehabilitation Plan.
Describe the contents of petition and other types of
Power point presentation of
Rehabilitation
student on the topic
assigned

Presentation of case study

or current issues on the
types of business
organization
7 3.0  Negotiable Instruments  Describe the negotiability of instruments. Lecture. Recitation on the
 Requisites of Negotiability  Explain abnormal negotiable instruments. topic.
 Negotiation; Kinds Discussion of students’
 Kinds of Endorsers. reaction. Quiz on the topic
 Discharged of Instruments.
Discussion of solutions of
solutions to the case
problem.

Power point presentation of

student on the topic
assigned

Presentation of case study

or current issues on
business crimes
8 3.0 Anti-Bouncing Checks Law; BP22  Describe checks without insufficient funds. Lecture. Recitation on the
 Identify the evidence of knowledge of topic.
insufficient funds. Discussion of students’
 Explain the credit construed reaction. Quiz on the topic

Discussion of solutions of
solutions to the case
problem.

Power point presentation of

student on the topic
assigned
 Active participation of
students and professor

Presentation of case study

or current issues
9 3.0 MIDTERM EXAMINATION
10 -12 9.0  Partnership.  Explain Partnership. Lecture. Recitation on the
 Kinds of Partnership and  Distinguish the nature from corporation. topic.
Partners.  Distinguish the elements and kinds. Discussion of students’
 Elements of a Partnership.  Explain the formalities required. reaction. Quiz on the topic
 Identify the rules of management.
 Rules of management
 Explain the distribution of profits and losses. Discussion of solutions of
 Explain the distribution of  Explain the sharing of losses and liabilities.
profits and losses; solutions to the case
 Describe the modes of retirement
 Modes of extinguishing a problem.
requirement.
partnership.  Identify limited partnership.
Power point presentation of
 Limited Partnership.
student on the topic
assigned

Active participation of
students and professor

Presentation of case study

or current issues
 Corporation  Describe the nature and classes of Lecture. Recitation on the
 Kinds of corporations corporation. topic.
 Incorporation, promotion, and  Describe the incorporation and organization Discussion of students’
organization. of private corporations. reaction. Quiz on the topic
 Powers of a corporation.  Enumerate the powers of a corporation.
  The Board of  Identify the Board of Directors and Discussion of solutions of
Directors/Trustees. Corporate Officers. solutions to the case
 Corporate Officers.  Distinguish the classes of stocks. problem.
 Classification of shares of  Describe the powers, duties, rights and
stocks. obligations. Power point presentation of
 Majority and minority control.  Distinguish majority and minority control. student on the topic
 By-Laws  Describe the By-laws. assigned
 Meetings  Explain the meetings .
 Corporate reorganization Active participation of
 Explain corporate reorganization
 Modes of dissolution students and professor
 effects of obligations.
 Corporate books.
 Describe non-stock corporation.
Presentation of case study
 Explain the modes of dissolution
or current issues
 Explain foreign corporations.
 Describe the kinds and availability of
corporate books.
13-14 6.0  Concepts and Classification of  Describe Organization and Registration of Lecture. Recitation on the
cooperatives Cooperatives. topic.
 Administration  Explain Administration. Discussion of students’
 Rights and privileges of
 Describe the responsibilities, Rights and reaction. Quiz on the topic
cooperatives.
Privileges of Cooperatives.
 Capital property of funds.
 Explain capital property of funds Discussion of solutions of
 Classification of cooperatives solutions to the case
 Explain audit inquiry and members right to
Merger and consolidation of problem.
examine.
cooperatives.
 Describe allocation and Distribution of
Funds. Power point presentation of
student on the topic
 Enumerate the types and categories of
assigned
corporation.
  Explain merger and consolidation of Active participation of
cooperatives. students and professor

15-17 9.0  PDIC Law  Law on Business Transactions. Lecture. Recitation on the
 Insurable Deposits  PDIC Law topic.
 Maximum Liability  Explain Insurable Deposits. Discussion of students’
 Requirements of claims  Explain Maximum Liability. reaction. Quiz on the topic
 Secrecy of Bank Deposits  Enumerate the requirements of claims.
 Unclaimed Balances Law .  Secrecy of Bank Deposits and Unclaimed Discussion of solutions of
solutions to the case
 Banking Laws Balances Law.
 problem.
Different kinds of loans  Explain the secrecy of Bank deposits.
 AMLA Laws  Explain unclaimed balances.
covered transactions, Power point presentation of
 General Banking Law
suspicious transactions and student on the topic
 Rules on Banks
reportorial requirements assigned
 Describe and explain different kinds of
loans.
Active participation of
 AMLA Law students and professor
 Describe covered transactions.
 Describe suspicious transactions
 Enumerate reportorial requirements.
 The New Central Bank Act
 Explain legal tender power over coins and
notes.
 Explain conservationist.
 Explain receivership and closure. Exclusion
clauses.
18 3.0 FINAL EXAMINATION
EXPECTATIONS FROM STUDENTS:
1. The student is responsible to come to each class prepared.
2. The student is expected to take all examinations on the date scheduled.
3. The student is expected to read the assigned chapter and solve exercises/problems prior to
Class.
4. The student is expected to attend each class and participate actively in the discussions.
5. The student is expected to do the seatwork/exercises that will be assigned by the instructor
inside the classroom.

ACADEMIC DISHONESTY:
Academic dishonesty is subject to University’s rules and regulations.

POLICY on ABSENCES:
1. Missed Classes: Students who miss class are responsible for content. Any student who
misses a class has the responsibility for obtaining copies of notes, handouts, assignments,
etc. If additional assistance is still necessary, an appointment should be scheduled with the
instructor. Class time is not to be used to go over material with students who have missed
class.
2. Incurrence of three tardiness is equal to one absence.
3. Incurrence of three consecutive absences is considered unauthorized dropped.
4. Incurrence of four absences is considered unauthorized dropped.

GRADING SYSTEM:
Midterm Grade (MG) Pre-Final Grade (PFG)
Midterm Exam Final Exam 40%
Class Standing 40% Class Standing 60%
60% Assignment 10%
Assignment 10% Recitation 10%
Recitation 10% Test/Quiz 20%
Test/Quiz 20% Output/Seatwork 20%
Output/Seatwork 20% 100%
100%

Final Grade (FG)= (MG + PFG) / 2

POINT POINT
GRADE REMARKS GRADE REMARKS
Equivalent Equivalent

98-100 1.00 Excellent 77-79 2.75 Satisfactory

95-97 1.25 Excellent 75-76 3.00 Passed

92-94 1.50 Very Good Below 75 5.00 Fail

89-91 1.75 Very Good INC Incomplete

86-88 2.00 Good OD Officially Dropped

83-85 2.25 Good UD Unofficially Dropped

80-82 2.50 Satisfactory

Prepared by: Approved by: Noted by:

ATTY. ROMEO DC. GALVEZ, CPA Dr. Gerardo T. Bautista, CPA Dr. Glenda A. Rebucas
Faculty Member Acting Dean Acting VP for Academics

I have read the course syllabus and I understand that I have to comply with the requirements of
the course and the expectations from me as a student of ______________ during the __ Semester
of _________. I am fully aware of the consequences of non-compliance with the above-
mentioned requirements and expectations.

________________________________
Printed name and signature of student

________________________________
Date