Legal Insights
Plain-language guides and case briefs on Philippine law — researched from the firm's law library of 184,000+ statutes, Supreme Court decisions, and agency issuances, and written so non-lawyers can understand and act on them.
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Standby Letters of Credit vs Counter-Bonds: Safeguarding Preliminary Attachments in Philippine Litigation
A standby letter of credit cannot substitute a counter-bond to discharge a preliminary attachment under Rule 57, per the Supreme Court.
Correspondent Banks' Right to Reimbursement in Dishonored Letters of Credit
Philippine Supreme Court ruling on correspondent banks' right to reimbursement when letters of credit are dishonored, explained in plain language.
Letters of Credit and Attorney-in-Fact Duties: Land Bank's Dual Role Explained
Supreme Court clarifies a bank's limited role under letters of credit versus its fiduciary duties as attorney-in-fact in export collections.
Letters of Credit and Construction Contracts: Defining Liability in Tripartite Agreements
A Supreme Court ruling clarifies when a bank is liable under a tripartite letter of credit agreement in construction financing.
Letters OF Credit Upholding Independence IN Contractual Obligations
Standby Letters of Credit Stand Outside Corporate Rehabilitation Stay Orders
Philippine Supreme Court ruling on why standby letters of credit are not covered by rehabilitation stay orders and remain enforceable against issuing banks.
Documentary Stamp Tax: When Unstamped Documents Are Still Admissible in Court
Philippine Supreme Court ruling on whether unstamped documents like letters of credit and surety agreements can be admitted as evidence in court.
Personal Liability in Corporate Obligations When Signing Blurs the Line
When do corporate officers become personally liable for company debts? A Supreme Court ruling on trust receipts and letters of credit provides clear guidance.