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
HEREDITARY RIGHTS OF COLLATERAL RELATIVES
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Brothers and sisters, nephews and nieces, are collateral relatives
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With the presence of a child, parent, or spouse, the collateral relatives cannot inherit except through a Will
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With the absence of children, parents, or spouse, the collateral relatives may inherit even without a Will
WHO SHOULD OWN PROPERTIES BOUGHT ON INSTALLMENTS BASIS, PAID PARTLY FROM EXCLUSIVE FUNDS OF EITHER SPOUSES AND PARTLY FROM CONJUGAL FUNDS?
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If full ownership was vested before the marriage, the property shall belong to the buyer spouse.
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If full ownership was vested during the marriage, the property shall belong to the conjugal partnership.
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In either case, any amount advanced by the partnership or by either or both spouses shall be reimbursed by the owner/s upon liquidation of the partnership.
HOW CAN THE ABSOLUTE COMMUNITY OF PROPERTY BE TERMINATED?
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The absolute community terminates upon the death of either spouse.
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The absolute community terminates when there is a decree of legal separation.
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The absolute community terminates when the marriage is annulled, declared void or in case there is a judicial separation of property during the marriage.
DOES GROSS INADEQUACY OF PRICE AFFECT A CONTRACT OF SALE?
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Inadequacy of cause will not invalidate a contract unless there has been fraud, mistake or undue influence.
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Gross inadequacy of price by itself will not result in a void contract.
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A valuable consideration, however small or nominal, if given or stipulated in good faith is, in the absence of fraud, sufficient.
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