• Public records refer to classes of records by a government in the conduct of its affairs

• Government offices shall regularly conduct an inventory of their records

• A public record may be disposed only if with the prior written authority of the executive director of the National Archives of the Philippines

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• Liquidated damages are those agreed upon by the parties to a contract, to be paid in case of breach thereof.
  

• Liquidated damages, whether intended as an indemnity or a penalty, shall be equitably reduced if they are iniquitous or unconscionable.
  

• When the breach of the contract committed by the defendant is not the one contemplated by the parties in agreeing upon the liquidated damages, the law shall determine the measure of damages, and not the stipulation.

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• Collective Bargaining Agreement refers to the negotiated contract between a bargaining representative and the employer concerning wages, hours of work and all other terms of conditions of employment

• A bargaining representative means a legitimate labor organization

• When a party desires to negotiate an agreement, it shall serve upon the other party with a statement of its proposals

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• Real Estate Investment Trust or REIT is a stock corporation established in accordance with the Corporation Code of the Philippines and the rules and regulations promulgated by the Securities and Exchange Commission (Commission) principally for the purpose of owning income-generating real estate assets.
  

• Investment in the REIT shall be by way of subscription to or purchase of shares of stock of the REIT.
  

• A REIT must distribute annually at least ninety percent (90%) of its distributable income as dividends to its shareholders not later than the last day of the fifth (5th) month following the close of the fiscal year of the REIT.

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