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
CONFIDENTIALITY OF CREDIT INFORMATION
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A credit information system will directly address the need for reliable credit information concerning the credit standing and track record of borrowers.
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The Credit Information Corporation, the submitting entities, the accessing entities, the outsource entities, the special accessing entities and the duly authorized non-accessing entities shall hold the credit information under strict confidentiality and shall use the same only for the declared purpose of establishing the creditworthiness of the borrower.
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The accreditation of an accessing entity, a special entity and/or an outsource entity which violates the confidentiality of, or which misuses, the credit information accessed from the Credit Information Corporation, may be suspended or revoked.
LESSEE IS NOT ALLOWED TO DENY THE TITLE OF HIS LESSOR
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The lessor and lessee relationship does not depend on the former’s title
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An action for unlawful detainer exists when a person unlawfully withholds possession of any land or building after the expiration or termination of the right to hold possession
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When the lessor-lessee relationship is established in an unlawful detainer case, any attempt to inject the question of ownership into the case is futile
EXISTENCE OF PARTNERSHIP WITHOUT BEING LEGALLY FORMED
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A partnership may exist even if not legally formed
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Persons are liable as general partners even when the partnership is not legally formed
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A general partner shares unlimited liability for the debts and obligations of the company
INSTANCES WHEN A LESSEE MAY BE EJECTED UNDER THE RENT CONTROL ACT
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The lessor may eject a lessee who failed to pay his or her rent for a total of three (3) months
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The lessee may deposit the amount of his rental payment in court if the lessor refuses to accept the same
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The lessor and the lessee may engage in a written rent-to-own agreement
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