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Business Law and Labor Law Updates
DEED OF SALE OF REAL PROPERTY IN A PUBLIC INSTRUMENT
A public instrument is one which is acknowledged before a notary public or any official authorized to administer oath, by the person who executed the same.
Contracts shall be obligatory in whatever form the parties have entered them.
Public documents enjoy the presumption of validity and regularity.
COMPULSORY RETIREMENT AGE FOR EMPLOYEES IN THE PRIVATE SECTOR
An employee may be retired in accordance with a Retirement Plan
An employee in the private sector who did not expressly agree to the terms of an early Retirement Plan cannot be separated from the service before he reaches the age of 65 years
The employer who retires an employee prematurely may be liable for illegal dismissal
GUIDELINES ON THE COMPUTATION OF SALARY DIFFERENTIAL OF FEMALE WORKERS DURING HER MATERNITY LEAVE
The employer shall pay the salary differential between the full salary of female worker during her maternity leave and the actual cash benefits received from the Social Security System (SSS).
The salary differential shall be included as part of the basic salary for purposes of computation of the 13th month pay of the rank-and-file employee.
The amount of salary differential shall be treated as taxable income of the female worker subject to the rules and regulations of the Bureau of Internal Revenue.
EXISTENCE OF CO-OWNERSHIP
There is co-ownership whenever the ownership of an undivided thing or right belongs to different persons
Each co-owner may use the thing owned in common
Repairs for preservation may be made at the will of one of the co-owners