1. Discuss the concept of “Law” under the Philippine legal system.

2. As entrepreneur in the future, explain the importance and purposes of business law.

3. What are the eight basic rights of a consumer? Explain briefly each right.

4. If a consumer product is deemed injurious, dangerous and unsafe, what appropriate action you can do as a concerned consumer?

5. Enumerate at least four causes of action in violation of the Consumer Act of the

Philippines which may be the basis for filing a complaint with the Department of Trade and Industry.

6. What are the remedies available to the injured person/consumer against the manufacturer, distributor or seller of product proven to be injurious, dangerous and unsafe?

7. What is the “Truth in Lending Act”? Discuss the policy behind the law and its purposes.

8. What are the information required to be furnished by the creditor to the debtor or borrower prior to the consummation of the transaction in relation to the extension of credit?

9. Are informal lenders engaged in “five-six” and other usurious practices be held liable under the Truth in Lending Act? Explain.

10. What is the gravamen or the act being punished of BP 22?

11. Discuss the two ways of violating BP 22.

12. When a check becomes stale because it was not presented for payment within a reasonable time, is the drawer/issuer liable for violation of BP 22? Explain.

Answer rating: 100% (QA)

1The Philippine legal system is a mixture of customary usage Roman civil law and AngloAmerican common law systems and Islamic law The legal system is the result of the immigration of Muslim Malays in ... View the full answer