It is a well-settled principle that the exception to the limited liability doctrine applies when the damage is due to the fault of the shipowner or to the concurrent negligence of the shipowner and the captain. Where the shipowner fails to overcome the presumption of negligence, the doctrine of limited liability cannot be applied. (Aboitiz Shipping Corporation v. Court of Appeals, G.R. No. 121833, October 17, 2008)

The shipowner and the ship agent shall be civilly liable for the acts of the captain and for the obligations contracted by the latter to repair, equip, and provision the vessel, provided the creditor proves that the amount claimed was invested for the benefit of the same. (Article 586, Civil Code)

Under the Three-Fold Liability Rule, the wrongful acts or omissions of a public officer may give rise to civil, criminal, and administrative liability. (Silvino Matobato v. People of the Philippines, G.R. No. 229265, February 15, 2022)

An action of each can proceed independently of the others. (Jose Romeo Escandor v. People of the Philippines, G.R. No. 211962)

Under the “business judgment rule”, the courts are barred from intruding into the business judgments of the corporation, when the same are made in good faith.

The world of online transactions has been growing exponentially ever since the pandemic happened. It made everything convenient and it brought the world closer to us. However, despite the positive feedback that online transactions have given us, there have been a lot of horror stories such as scams, fraud, and other issues arising from online transactions.

The Cooperative Development Authority (CDA) issued Memorandum Circular (MC) No. 2024-16 entitled “Reiteration of the Prohibitions under Articles 45, 48, and 49 of Republic Act (RA) No. 9520″ to serve as guidance to cooperative officers to uphold the best interest of their members pursuant to the universally accepted cooperative principles and to refrain from using their privileges and the cooperative’s financial resources for their personal gains and to benefit their business interests in another company where they have personal investment or interest.

A contract of insurance is an agreement whereby one undertakes for a consideration to indemnify another against loss, damage or liability arising from an unknown or contingent event. (Sec. 2(a) of R.A. No. No. 10607, also known as “The Insurance Code”)

Corporations offer a range of advantages, including limited liability, access to capital, perpetual existence, enhanced credibility, and the ability to attract talent. However, they also come with drawbacks such as complexity, double taxation, regulatory burdens, potential conflicts of interest, and reduced personal control.