The topics below may be relevant to your daily activities, especially those which involve business law, labor law, and other legal areas of your business.
Business Law and Labor Law Updates
SICKNESS BENEFITS UNDER THE SOCIAL SECURITY LAW
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Sickness Benefit is a daily cash allowance paid by the employer to the member who is unable to work due to sickness or injury for each day of compensable confinement or a fraction thereof.
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To qualify for the grant of the sickness benefit, the member must have paid at least three (3) monthly contributions within the twelve-month (12) period immediately before the semester of sickness or injury.
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The daily sickness allowance shall be equivalent to ninety-percent (90%) of the member’s average daily salary credit.
FUNCTIONS OF REAL ESTATE INVESTMENT TRUST (REIT)
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Real Estate Investment Trust (REIT) shall have all of the powers of a corporation under the Revised Corporation Code.
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One of the functions of the REIT is to ensure that the financial and economic aspects of the REIT are professionally managed in the interest of the shareholders and creditors.
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REIT shall not perform quasi-banking functions without the requisite license issued by the Bangko Sentral ng Pilipinas.
MAY A FOREIGNER BE DEPORTED EVEN IF WHAT HE VIOLATED WAS A FOREIGN LAW?
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Aliens seeking entry in the Philippines do not acquire the right to be admitted into the country by the simple passage of time
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An alien can be excluded in the country any time after it was found that he was not lawfully admissible at the time of his entry
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An alien found to have violated a foreign law may be excluded in the country
WHAT ARE THE PROPERTY RIGHTS OF A PARTNER?
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A partner is co-owner with his partners of specific partnership property
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A partner’s interest in the partnership is his share of the profits and surplus
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A partner has the right to participate in the management of the partnership
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