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Guidelines for Corporations Engaged in Nationalized or Partly Nationalized Activities

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The Philippine Securities and Exchange Commission (SEC) has issued Memorandum Circular No. 8 with the title “Guidelines on Compliance with the Filipino-Foreign Ownership Requirements Prescribed in the Constitution and/or Existing Laws by Corporations Engaged in Nationalized and Partly Nationalized Activities” or “Guidelines” for short. The memorandum provides a regulatory framework for the implementation of the…

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Breach of Contract: What to Do When a Contract is Breached

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Article 1170 of the Civil Code states that those guilty of fraud, delay, or negligence, in the performance of their obligations, or those who, in any way, contravene the tenor of their obligations can be held liable for damages. In the case of Cathay Pacific Airways Ltd. v. Spouses Vazquez, G.R. No. 150843, breach of…

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