- Alburo Law Offices' Newsletter
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Archive
Is Suicide Covered by Life Insurance?
Section 183. The insurer in a life insurance contract shall be liable in case of suicide only when it is committed after the policy has been in force for a period of two (2) years from the date of its issue or of its last reinstatement, unless the policy provides a shorter period: Provided, however, That suicide committed in the state of insanity shall be compensable regardless of the date of commission.
Double Insurance vs. Over Insurance
Double insurance exists when the same person is insured by several insurers separately in respect to the same subject and interest. (Sec. 95, Amended Insurance Code of the Philippines)There is over insurance if the insured takes out an insurance over the property insured in an amount which is in excess of the value of his insurable interest. (Aquino, Essentials of Insurance, 2018, p. 283)
The Supreme Court decides: Search warrants must clearly define the location to be searched; otherwise, they are invalid for violating the right against unlawful searches and seizures.
In the case of People of the Philippines vs. Lucky Enriquez, G.R. No. 264473, August 7, 2024, the Supreme Court emphasized that search warrants must clearly define the location to be searched; otherwise, they are invalid for violating the right against unlawful searches and seizures.
The Concept of “Doing Business in the Philippines”
Foreign investment shall mean an equity investment made by a non-Philippine national in the form of foreign exchange and/or other assets actually transferred to the Philippines and duly registered with the Central Bank which shall assess and appraise the value of such assets other than foreign exchange.
Nationality of Corporations
The nationality of a corporation is determined by law and not by the corporation and/or its subsidiaries. It is the test or tests, as provided by law, that should prevail in determining the nationality of a corporation, and not its representations and/or those of its subsidiaries. (SEC-OGC Opinion No. 11-42 dated October 12, 2011)