The topics below may be relevant to your daily activities, especially those which involve business law, labor law, and other legal areas of your business.
Business Law and Labor Law Updates
WHAT IS EASEMENT?
Easement is an encumbrance imposed on an immovable.
Easement is for the benefit of another immovable belonging to another owner, or for the benefit of a person, group of persons, or a community.
The effect of acknowledging the existence of an easement is that it is an admission that the property belongs to another.
PAYMENT OF DIVIDENDS
Dividends are payable in cash, property or in stock to all stock holders on the basis of outstanding stocks held by them
Dividends must be first declared before payment
The power to declare dividends is lodged on the Board of Directors
ON DEPOSIT SPLITTING
Splitting of deposits occurs whenever a deposit account is broken down and transferred into two or more accounts
In deposit splitting, there is a presumption that the transferees have no beneficial ownership improvement of the property.
The grant of deposit insurance to an account found to have originated from another deposit is not automatic
ON INSURED DEPOSITS
Philippine Deposit Insurance Corporation has the duty to grant or deny claims for deposit insurance
Deposits are insured up to Five Hundred Thousand Pesos (Php 500,000)
In determining such amount, all deposits are added together