UP Law Center I. Carlo and Bianca met in the La Boracay festivities. Immediately, they fell in love with each other and got married soon after. They have been cohabiting blissfully as husband and wife, but they did not have any offspring. As the years passed by, Carlo decided to take out an insurance on… Read More SUGGESTED ANSWERS TO THE 2014 BAR EXAMINATION QUESTIONS IN MERCANTILE LAW
FACTS: Respondent issued a comprehensive commercial vehicle policy to petitioner over the 1992 Mitsubishi Montero (vehicle) owned by petitioner for a period of one year commencing on September 27, 1996. Petitioner’s company, Noah’s Ark, issued a Far East Bank check dated September 27, 1996 payable to Trans-Pacific on the same day. The check represents payment… Read More GAISANO v. DEVELOPMENT INSURANCE GR No. 190702, Feb 27, 2017 Payment of Premium in Insurance Policies, Unjust Enrichment
FACTS: On January 29, 1910, Sun Life Assurance Co. of Canada issued insurance policy No. 161481 on the life of Hilario Gercio. By its terms, the insurance company agreed to insure the life of Hilario to be paid him on February 1, 1930, or if the insured should die before said date, then to his… Read More GERCIO v. SUN LIFE ASSURANCE G.R. No. 23703 September 28, 1925 Rights of a Beneficiary in an ordinary Life Insurance Policy, Insurable Interest
What does doing business in the Philippines under the Foreign Investment Act of 1991 mean? (5%) SUGGESTED ANSWER The phrase “doing business in the Philippines“ under the Foreign Investments Act of 1991 include soliciting orders; service contracts; opening offices, whether called liaison offices or branches; appointing representatives or distributors domiciled in the Philippines or who… Read More Bar Exam 2016 Suggested Answers in Mercantile Law by the UP Law Complex
I. (A) Nadine has a checking account with Fair & Square Bank. One day, she lost her checkbook and the finder was able to forge her signature and encash the forged check. Will Nadine be able to recover the amount debited from her checking account from Fair & Square Bank? Justify your answer. (3%)… Read More 2015 Bar Exam Suggested Answers in Mercantile Law by the UP Law Complex
FACTS: On January 10, 2001, Atty. Jesus Sibya, Jr. applied for life insurance with Sun Life. In his Application for Insurance, he indicated that he had sought advice for kidney problems. Sun Life approved the application and issued Insurance Policy No. 031097335. The policy indicated the respondents as beneficiaries and entitles them to a death… Read More SUN LIFE v. MA. DAISY SIBYA G.R. No. 211212, June 08, 2016 Insurance, Concealment, Two-year Contestability Period