Republic Act 10667: Philippine Competition Act

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The Philippine Competition Law was ratified into law last July 21, 2015. In the Philippines E-Commerce Roadmap, this law was deemed as a critical component in resolving Internet connectivity challenges on a long-term as it provides legal remedies for unfair competition that puts consumers in cost and service disadvantage. Salient features of the law can be found at http://digitalfilipino.com/salient-features-of-republic-act-10667-philippine-competition-act/

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Republic Act 10667: Philippine Competition Act

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Sale A sale is a type of contract in which the seller transfers the ownership of goods to the buyer for a money consideration. Here the relationship amidst the seller and buyer is of creditor and debtor. It is the result of an agreement to sell when the conditions are fulfilled and the specified time is over. Agreement to Sell An agreement to sell is also a contract of sale of goods, in which the seller agrees to transfer goods to the buyer for a price at a later date or after the fulfilment of a condition. When there is a willingness of the both the parties to constitute a sale i.e. the buyer agrees to buy, and the seller is ready to sell the goods for monetary value. In an agreement to sell the performance of the contract is done at a future date, i.e. when the time elapses or when the necessary conditions are satisfied. After the contract is executed, it becomes a valid sale. All the necessary conditions required at the time of sale should exist in the case of an agreement to sell too. If the seller rescinds the contract, then the buyer can claim damages for the breach of contract. On the other hand, the unpaid seller can also sue the buyer for damages.

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This presentation follows the evolution of thinking about competition since the passage of the Sherman Act in 1890 as reflected by major antitrust decisions and research in industrial organization. It divide the U.S. antitrust experience into five periods and discuss each period's legal trends and economic thinking in three core areas of antitrust: cartels, cooperation, or other interactions among independent firms; abusive conduct by dominant firms; and mergers.

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