TRUE or FALSE

1.) An electronic document has the same probative value as a written document.

2.) The BIR Commissioner is authorized to inquired into the deposits of a any taxpayer who

has filed an application for compromise of his tax liability by reason of financial incapacity

to pay his tax liability.

3.) Single cash real estate transaction involving an amount in excess of P 7,000,000.00 is a covered transaction.

4.) The BSP can appoint a conservator whenever the monetary board finds that a bank is in a state of continuing inability to maintain a condition of liquidity.

5.) The regional trial court can authorize the examination of bank deposits of a judicially declared and outlawed terrorist organization.

6.) A person who issues and uses a bouncing check amounting to 1,000,000 for the purchase of goods is guilty for both estate and BP 22, upon the dishonor of said check.

7.) Freeze orders issued by the AMLC pursuant to targeted financial sanctions are effective for a period of 6 months.

8.) The patent owner shall have no right to prohibit 3rd parties from using his patented

product which has been put on the market in the Philippines by the owner of the product.

9.) A complaint for bank fraud, irregularity or anomaly can be unverified.

10.) The Regional Trial Court can authorize the examination of bank deposits of a judically declared and outlawed terrorist organization.

11.) Upon the issuance by the court of a preliminary order of proscription or in case of designation under Section 25 of the Anti-Terrorism Act fo 2020, the AMLC, upon its own initiative or at the request of the Anti-Terror Council (ATC), may examine foreign currency deposits without need of a court order

12.) A lawyer may use any copyrighted work for the purpose of giving legal advice.

13.) An idea can be copyrighted if made in writing.

14.) Divisibility of the obligation actually refers to the divisibility of the prestation.

15.) An act is not criminal unless the mind is criminal.

16.) Copyright of photographic works shall remain in force for 50 years after the death of the photographer.

17.) Mutual restitution is exempted in rescission of contracts when the party who demands rescission lost the thing he is bound to restore through fortuitous event.

18.) If the obligor fails to perform a personal obligation, the obligee may ask the court to compel the obligation to perform his obligation.

19.) The construction of a building from an architectural work can be done even without the consent of the architect who owns the copyright because the actual building is not copyrightable.

20.) Dodong asked James to purchase certain properties for him from Pedro. Dodong orally assured Pedro that he would pay for them. Pedro later sued Dodong for payment. Dodong can raise the Statute of Frauds as a defense.

MCQ

1. Che-che invented a device that can convert rainwater to automobile fuel. She asked Mr. X,

a lawyer, to assist in getting her invention patented. Mr. X suggested that they form a

corporation with other friends and have the corporation apply for the patent, 80% of the

shares of stock thereof subscribed by Che-che and 5% by Mr. X. The corporation was

formed and the patent application was fled. However, Che-che dies 3 months later of a

heart attack. Franco, the estranged husband of Che-che, contested the application and

filed his own patent application as the sole surviving heir of Che-che. To whom should the

patent be awarded?

A. None of the choices

B. The patent should be awarded to the Corporation, which Che-che owns 80% of the

share. It is also the corporation who has filed an application of the patent.

Furthermore, Franco would also inherit Che-che's shares

C. The patent should be shared by the Corporation and Franco Equally.

D. The patent should be awarded to Franco.

2. The following are offenses punishable under the PDIC Law, except.

A. Refusal to disclose information, records or data pertaining to the bank accounts of a closed bank to the receiver.

B. Consolidation of ownership over an asset of the closed bank.

c. Delaying the verification of authenticity of the ownership of documents

D. None of the Choices

E.Allowing the withdrawals from deposits of any asset of the bank under conservatorship other than the conservator.

3.) Patentable invention may be or may relate to:

a. All of the choices

b. A product

c. Computer related inventions

d. None of the Choices

e. A process

4. X Corp. manufactures bags under their trademark "Prahmes". The said trademark was

registered in the IPO in 2001. Meanwhile Y Corp. also manufactures bags under their own

trademark "Karitela". The said trademark was registered in 1995. In 2004, Y Corp. adopted and

copied the design of X Corp.'s latest handbag but retained its own trademark "Karitela." What

areY Corp.'s liability, if any?

A.Y Corp. may be held liable for trademark infringement, only.

B.Y Corp is not liable to X Corp for anything

C.Y Corp. may be held liable for unfair competition only

D.Y Corp may be held liable for trademark infringement and unfair competition

5.) In an action for damages on account of an infringement of a copyright, the defendant (the alleged pirate) raied the defense that he was unaware that what he had copied was a copyrighted material. Would his defense be valid?

A.Yes, the defense would be valid since there is no showing that the copyright was registered. Although a copyright is conferred from the moment of creation, the copyright must be registered with the National Library together with the deposit of two (2) copies of the work.

B. None of the choices.

c. Yes, the defense would be valid since there is not showing that copyright was published for the purpose of informing the public of the existence of the copyright.

D. No, the defense would not be valid. A copyright is conferred from the moment of creation of the work.