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June 1, 2022

Business Law and Labor Law Updates

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.


MAY AN HEIR BE DISINHERITED (Part III)


  • Partial disinheritance is not allowed

  • Disinheritance may be rendered ineffectual

  • The disinherited heir may be represented by his own heirs

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WHAT CHARGES MAY BE DEDUCTED FROM THE ABSOLUTE COMMUNITY PROPERTY?


    • The children of either spouse must be legitimate for the support to be charged against the absolute community.
    • Debts prior to marriage by either spouse, which did not redound to the benefit of the family shall not be borne by the absolute community of property.
    • All debts contracted by one spouse with or without the consent of the other are chargeable against the community of property to the extent that the family may have been benefited.

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Close Corporation


  • Close corporations are often run by family members wherein the management of the corporation is purposely restricted within the family or a small circle of trusted individuals.

  • Close corporations are not listed in any stock exchange, neither can they make any public offerings.

  • The issued stocks of close corporations are subjected to restrictions on the transfer of shares.

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MAY AN HEIR BE DISINHERITED? (Part II)


  • No Will, No Disinheritance

  • Disinheritance is intentional

  • Express disinheritance may be effected in a simple document

Continue reading . . .

 

 

 

 

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