Bits of Law

Acquiring property is a process that is known for its long, complicated paperwork. It can be confusing and overwhelming to keep track of it all throughout the process. However, it’s essential for you to know the differences of each one to ensure that you don’t make any mistakes. Two documents that one might assume are the same are the ‘contract to sell’ and the ‘contract of sale.’ While they sound similar, they are certainly not interchangeable. Knowing the differences early on will make the property transaction process much easier for you later. Here’s what you need to know about the Contract to Sell and the Contract of Sale. What is a Contract to Sell? A contract to sell is a bilateral contract, meaning both parties involved have agreed to fulfill their part of the deal. In this case, the seller has agreed to sell his/her property to the buyer, and the buyer has confirmed his/her intent to buy it.  slot qris totoagung slot qris However, the property is not immediately put under the new buyer’s name. The transfer of ownership will only occur when certain conditions that are agreed on by both parties are met. This contract reserves ownership of the property for the buyer until both parties are able to fulfill their respective conditions. data macau slot thailand slot qris toto slot slot gacor maxwin pay4d sbobet bandar toto toto macau 4d totoagung toto macau pay4d toto slot slot gacor 777 slot terpercaya slotgacor4d slot 4d toto macau situs togel online idn togel slot gacor 4d slot gacor 4d slot thailand slot olympus toto slot slot gacor situs toto gacor situs toto Examples of conditions that one or both parties must fulfill before the actual transfer include: Once these conditions are met, the buyer and seller can then proceed with the transfer of ownership. What is a Contract of Sale? A contract of sale is also an agreement between the seller and buyer, whereby the seller has agreed to sell his/her property to the buyer and the buyer has agreed to pay for it. Unlike a contract to sell, however, the transfer of ownership occurs immediately once the contract of sale is signed, the buyer has fully paid, and the seller has given the property to the buyer.  pay4d heylink Take note that while it is possible to sell items or properties that are non-existent at the time of sale, such as a pre-sold condominium unit in a condominium building that has not yet been built, you likely won’t encounter a contract of sale for such a situation. It’s more common for contracts of sale to pop up if the property already exists. A buyer and seller can agree to a transfer of ownership before the buyer has fully paid, under the condition that if the buyer fails to complete his/her payment, the seller has the right to take back the property.  What are the main differences? The main way you can differentiate these two documents is remembering how it handles the transfer of ownership. Under a contract to sell, the transfer is withheld until both parties fulfill the conditions given to them. Under a contract of sale, the transfer is immediate. However, the seller can take it back if the buyer fails to pay. It’s important to understand the differences between the two if you’re planning on dealing with property, either as a buyer or seller. Otherwise, you could run into misunderstandings with the other party, which could then snowball into unnecessary legal disputes. It’s also important to have a trustworthy real estate attorney to help you throughout the transaction process.

Reading through the employment contract is one of the most crucial parts of the job hunting process. Here are red flags to look out for in employment contracts.

All businesses, from small sole proprietorships to gigantic corporations, can reap great benefits by working with a lawyer. If you own or plan to own a business, it’s important to form a professional relationship with a skilled lawyer that you can trust. He or she will help ensure that you are abiding by the relevant laws that govern your business. Here’s what you need to know about legal retainer services. What are legal retainer services and do I really need them? When a business enters a legal retainer agreement with a lawyer, they pay the lawyer an upfront fee to ensure that he or she is always available whenever the business needs legal help or advice. This lawyer typically has an intimate knowledge of the business in question so that he/she can provide the best legal services for its unique needs.  toto togel slot gacor maxwin slot gacor So, do you really need legal retainer services? It depends on the needs of your business. Again, all businesses will need to work with a lawyer to ensure its smooth sailing.  Some businesses hire lawyers on an ‘ad-hoc’ basis, literally meaning ‘for this.’ This means they hire lawyers only as needed, when a specific situation crops up that must be handled by a lawyer. This works out if the business rarely needs legal assistance in their operations. While it sounds more practical on paper, it can also be difficult to look for a competent and trustworthy lawyer that can address your needs immediately, especially on short notice. Alternatively, other businesses hire a business lawyer as a regular employee. This ensures that legal help for the business is always available and within reach. However, hiring a lawyer as an employee can be expensive. The additional cost of staff and office expenses must be considered. It may not be worth hiring an in-house counsel if you don’t need constant legal help. situs pay4d If neither of these options fit your needs, that’s when you need legal retainer services. If you regularly need the services of a lawyer but don’t have the budget to hire one as a regular employee, availing legal retainer services is  the perfect compromise. You can rest assured knowing that your retainer lawyer will prioritize your needs for a cheaper cost. What are the benefits of legal retainer services? What services are included in a legal retainer agreement? Inclusions of a legal retainer agreement may be tailor fit to suit one’s needs. Some common services include: 

Money laundering is considered one of the most severe financial crimes, committed by organized crime groups worldwide. Simply put, money laundering is the act of covering up the origins of illegally sourced income. This lets criminals avoid prosecution for the original crime of obtaining said “dirty money” in the first place. Republic Act No. 9160, or the Anti-Money Laundering Act of 2001, seeks to prevent and punish cases of money laundering in the Philippines. Here’s what you need to know. What is money laundering and how does it work? Money laundering “cleanses” any illegally obtained money by passing it through legitimate transactions. Doing so essentially overwrites the money’s initial origins. This then allows criminals to get away with their illegal income methods and avoid taxation. The following actions are considered to be acts of money laundering: What is the Anti-Money Laundering Council and what do they do? To address the issue of money laundering, the Anti-Money Laundering Council (AMLC) was formed alongside the Anti-Money Laundering Act of 2001. Core members include the Governor of the Bangko Sentral ng Pilipinas as the chairman, both the Commissioner of the Insurance Commission and the Chairman of the Securities and Exchange Commission as members, and a secretariat. The functions of the AMLC are as follows: What penalties will guilty parties face? The penalties listed in this act vary depending on the crime committed. They are as follows: How can money laundering be prevented? A huge part of preventing money laundering is ensuring that covered institutions meticulously record their transactions and customers.  “Covered institutions” refer to entities such as banks, non-banks, quasi-banks, trust entities, insurance companies, securities dealers, brokers, investment houses, mutual funds, pre-need companies, foreign exchange corporations, and other similar financial entities regulated by the BSP, Insurance Commission, or SEC. Covered institutions can help prevent money laundering by doing the following: Can money laundering affect me personally? Yes. This is because some money laundering strategies get innocent parties into helping criminal organizations, either knowingly or unknowingly. These parties are “money mules.”  Criminal organizations use money mules by transferring the dirty money to their accounts. The money mules then use a series of transfers and transactions to cover up the money’s origins, and then return the funds to the criminal. Money mules either use their accounts or their business accounts for this technique and are sometimes roped into it by falling for a scam organized by the criminal. By staying aware, you can prevent criminals from turning you or your business into an unwitting money mule. Money laundering criminals are good at coming up with incentivizing scams that many people fall for. It’s up to you and your discernment to differentiate scams from genuine opportunities. Here are a few examples of scams to watch out for:

How do you prove that the property you possess is indeed yours? Many people believe that having a tax declaration is more than enough proof, and that it has the same weight as a land title. This, however, is certainly not the case. What is the difference between the two? And do you truly own your property, or are you simply in possession of it? Here’s what you need to know.  But first: what is the difference between possession and ownership? Before we can discuss what a tax declaration and what a land title is, we must first clarify the definitions of the terms possession and ownership. These two terms highlight one of the core differences between the two documents – namely, how much authority each document provides. Legally speaking, possession and ownership have very different definitions, even if our everyday language frequently mixes them up together. When someone is in possession of a property, he or she is in a de facto relationship with it. This means that the relationship is based on the control that the person has over the property. It is not defined by the legal recognition of who actually owns the property; just because a person possesses a property does not mean that he or she is its legal owner. Because he/she does not truly own the property, he/she does not have the rights to do anything beyond using it for its intended use. He/she cannot sell, dispose, or destroy it. For example, someone can lease a vehicle, which grants him or her the right to use it. He/she is thus in possession of the vehicle. However, he/she is not the legal owner. Refusing to pay the due monthly payments may lead to the actual owners repossessing the vehicle. Meanwhile, ownership is a legal acknowledgment of the owner’s rights. As the true owner of the property, he/she is free to do anything to the property. He/she could also be in possession of it, granting him/her physical control over it. He/she can also allow another person to occupy it, use it, sell it, give it away, or destroy it. For example, say someone has ownership of a vehicle. As the true owner of the vehicle, he/she can do anything he/she wants to do with it. He/she can possess and use it, lease it to someone else, give it away, or destroy it. No one will be able to take the vehicle away from the owner, either. What is the difference between a tax declaration and a land title?  Now that we know the definitions of possession and ownership, we can properly distinguish the difference between a tax declaration and a land title.  A land title serves as proof of the right of ownership to a property and is the most indisputable way to prove such. Whoever’s name is written on the land title is considered the official owner of the land. It must be registered with the Register of Deeds of whichever municipality, city, or province where the land is located.  On the other hand, a tax declaration shows the assessed value of the property on which the real property tax is based on. It also serves as proof that the one currently in possession of the land is complying with his/her tax obligations. Because of this, the tax declaration also serves as sufficient proof that the person named therein has a claim over the property. However, this does not mean that it’s sufficient proof of ownership.  Someone who has a tax declaration of a property but not a land title does not have true ownership on said property. However, it does prove your rights to possess it. If there is no land title attached to a property, a holder of a tax declaration may have a shot at claiming ownership.

We are living in the golden age of communication. Long-distance relationships and friendships are as easy as ever. Even seeing your loved ones’ faces is as easy as clicking a button whenever and wherever you want. However, these technological advances also come with their fair share of dangers. The possibility of someone taking photos and videos of you without your consent is unfortunately yet constantly present. Such repulsive acts are often the cause of various sex scandals. Republic Act No. 9995, or the “Anti-Photo and Video Voyeurism Act of 2009”, aims to deter people from committing the said acts. It also aims to punish people who have already committed the same. This article aims to break down R.A. No. 9995 for your ease of understanding. The Basics The Anti-Photo and Video Voyeurism Act of 2009 defines the parameters of photo or video voyeurism, prescribes the penalties for any perpetrators, and defines any exemptions and clauses included in the law. In the context of this Act, “photo or video voyeurism” is the act of taking photos or videos of anyone performing a sexual act or of their private areas without their consent. The person/s must have a reasonable expectation of privacy during the moment of capture, meaning that they have reason to believe that they did not have to be concerned about anyone taking photos or videos of them. Prohibited Acts Section 4 of R.A. No. 9995 clarifies which acts are prohibited and declared unlawful for any person: Note that these prohibitions do not apply if the person in the material had given his/her consent to create or distribute the photos, videos, or recordings. Penalties Anyone guilty perpetrators of the prohibited acts listed above must serve at least three (3) years but not more than seven (7) years of imprisonment, or pay a fine of at least One Hundred Thousand Pesos (P100,000.00) but not more than Five Hundred Thousand Pesos (P500,000.00), or both, at the discretion of the court. If the violator is a juridical person, such as a corporation or agency, its license or franchise shall be revoked. If a public officer, employee, or professional is guilty, he or she shall be administratively liable.  Exemptions There is only one situation in which a person does not have to face the consequences of this law. If the court has authorized a police officer to use the record or any copy thereof as evidence in any civil, criminal investigation or trial of the crime of photo or video voyeurism, then the court will not consider him or her guilty of committing the prohibited acts written in this law.  However, this is exception only applies if the written order is issued or granted upon written application and the examination under oath or affirmation of the applicant and the witnesses/he or she may produce, and upon showing that there are reasonable grounds to believe that photo or video voyeurism has been committed or is about to be committed, and that the evidence to be obtained is essential to the conviction of any person for, or the solution or prevention of such, crime.

Republic Act No. 11976, also known as the Ease of Paying Taxes Act, is now effective as of January 22nd, 2024. This Act aims to improve efficiency in the tax administration system by providing solutions that will encourage taxpayers into complying with their tax obligations. Here are the highlights so that you can fully inform yourself on the improvements made to tax administration. The implementing rules and regulations of this Act will be released within 90 days from effectivity of the law, so we should be able to review them before April 21st, 2024. idn live toto slot slot gacor slot server thailand

The articles of incorporation is one of the most important documents that you must create and submit to the SEC when creating a corporation. But what is it? How do you create one? And can you amend your Articles of Incorporation later on? Here’s what you need to know. slot gacor gampang menang What are articles of incorporation? The articles of incorporation is a set of documents that you must file with the SEC, or the Securities and Exchange Commission, to legally create a corporation. Once you have submitted it and all other requirements to the SEC, the SEC will issue the Certificate of Incorporation that serves as proof of the corporation’s existence as an artificial person created by law. sbobet slot gacor 4d data macau toto macau panel idn agen toto togel link gacor toto togel idn togel gacor4d login slot gacor hari ini slot gacor maxwin The articles of incorporation contain all of the basic yet necessary information regarding the corporation. This includes: How can you amend the articles of incorporation? Any part of the articles of incorporation may be amended if it is agreed upon by a majority vote of the board of directors or trustees. It will also require the vote or written assent of the stockholders representing at least two-thirds (⅔) of the outstanding capital stock. This is in accordance with Section 15 of the revised Corporation Code. In order to make the amendments official and recognized, you must first submit the following requirements to the SEC: When preparing the amended articles of incorporation, one should include both the original and amended versions and underscore the changes made, followed by the date of the meeting approving said changes. The amendments shall only take effect once the Securities and Exchange Commission has given the corporation its approval. Said amendments can also take effect if it has been at least six (6) months since the date of filing and the Commission has not yet acted for a cause not attributable to the corporation.  Can articles of incorporation or amendment be disapproved? The SEC may disapprove articles of incorporation or any amendments made if it does not comply with the requirements of the Corporation Code. However, the SEC must tell the incorporators, directors, trustees, or officers the reason for disapproval. They must also give them ample time to modify the objectionable portions of the articles or amendments.  The following are grounds for disapproval of articles or amendment: