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
Long-term Foreign Lease Over Lands in the Philippines
There are restrictions on nationality when it comes to owning and acquiring lands in the Philippines. Under our Constitution, only Filipino citizens and corporations with at least 60% Filipino ownership are allowed to own land. This restriction poses an obstacle on many foreign investors who would want to do business in the country. Thus, many of them simply entered into long-term leases of private lands, which they are allowed to do, as long as they comply with all the conditions imposed by law.
What You Should Know About Demotion of Employees
Legally, the owner of a business enterprise is given considerable leeway in managing his business, based on the principle of managerial control of business, flowing from ownership of property and the rationale of business enterprise. These rights, collectively called management prerogatives, comprise the owner’s freedom to administer the affairs of his business, which may even include the right to demote an employee. However, despite being part of an employer’s prerogative, the legal aspects surrounding demotion of employees must still be observed.
Creditor’s Guide in Ensuring Truth in Lending
It is reality that many creditors take advantage of others’ need for additional financing to pad their own receivables by imposing finance charges and other payables upon their debtors. Though the law on contracts in general allows the parties to stipulate their terms, including the imposition of such additional charges on top of the loaned amount, it is, however, a must for all creditors to always keep in mind they have to be transparent to their debtors in lending.
Types of Employment, and How It Affects Security of Tenure
When hiring employees, business owners need to be conscious as to the status of their employees. It is so because this directly affects the latter’s right to security of tenure, which the employer is duty-bound not to curtail despite its inherent prerogative to discipline employees and to shape its own workforce. It is therefore imperative for every employer to ensure that their employees fall within the intended classification the moment they hire, because making informed decisions regarding personnel actions, especially in exercising the management’s prerogative to discipline its employees, would depend a lot on how well the employer knows how their employees are classified.
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