THE INTERNATIONAL CORPORATE BANK (now UNION BANK OF THE PHILIPPINES)‚ petitioner‚ vs. SPS. FRANCIS S. GUECO and MA. LUZ E. GUECO‚ respondents. DECISION KAPUNAN‚ J.: The respondents Gueco Spouses obtained a loan from petitioner International Corporate Bank (now Union Bank of the Philippines) to purchase a car – a Nissan Sentra 1600 4DR‚ 1989 Model. In consideration thereof‚ the Spouses executed promissory notes which were payable in monthly installments and chattel mortgage over the car to serve
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CHAPTER 1 INTRODUCTION Microfinance is usually understood to entail the provision of financial services to micro-entrepreneurs and small businesses‚ which lack access to banking and related services due to the high transaction costs associated with serving these client categories. For some‚ microfinance is a movement whose object is "a world in which as many poor and near-poor households as possible have permanent access to an appropriate range of high quality financial services‚ including not
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INFORMAL BORROWING AND LENDING IN RURAL FINANCE INTRODUCTION This paper presents an assessment of informal borrowing and lending in rural finance with a focus on its advantages and disadvantages. It examines a number of issues related to the functioning of rural credit markets‚ determinants of rural interest rates‚ why the government intervenes in rural credit markets and how. BACKGROUND Commercial banks and other formal institutions fail to take care of the credit needs of
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The Number of Islamic Microfinance Institutions in Malaysia Should Be Increased. Table of Content Page 1.0 Abstract 2 2. Introduction 3 3. Argument 1 : Offer Syariah Compliant Finance 5 4. Argument 2: Increase the Performance of Islamic Banking and Finance 7 5. C. Argument: Risky and Costly to Implement Islamic Microfinance 9 6. Argument 3: Provide Financial Assistant for Low and Middle Income Groups. 11 7.0 Conclusion
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What is system? System (from Latin systema‚ in turn from Greek systēma) is a set of interacting or interdependent entities‚ real or abstract‚ forming an integrated whole. A group of interdependent items that interact regularly to perform a task. Economic System An economic system is a system that involves the production‚ distribution and consumption of goods and services between the entities in a particular society. The economic system is composed of people and institutions‚ including their relationships
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Tattooing and Religion In today’s society‚ people have many ways of expressing themselves. From the clothes they wear to the activities they partake in. These different things all make up who you want to represent yourself as. One type of self expression is a bit different than these normal ways. This particular type of self expression is called body modification. Body modification is a process where you change your body somehow by modifying a part of it. Some of the different types of body
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May 15‚ 2006 Federal Reserve Bank of Cleveland Inflation‚ Banking‚ and Economic Growth by John H. Boyd and Bruce Champ B y now‚ everybody knows inflation is bad. Hyperinflations—when inflation rates are extremely high—are the horror stories‚ but few doubt the harmful effects of inflation rates in the teens either. Over the past several decades‚ central banks around the world have been pretty successful at dramatically lowering inflation rates. Can we now stop worrying about inflation? Probably
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The evolution of money: an outline of six stages I. From tradable utilities to a generalized medium of exchange accepted as the final payment‚ carrying value over time‚ and used to calculate the equivalence in exchanges… This transition seems logical and unavoidable from the present day perspective‚ but its historical origin remains disputed. A common explanation projects the present day assessment of the logical necessity of introducing a generalized medium of exchange on the past‚ which is a
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The secular laws of Babylon were laid down by Hammurabi in “The Code of Hammurabi”‚ and in the book of Exodus. These laws provided stability and order in those respective societies. As society depended upon them‚ it is natural to assume that the laws relied upon society as well and reflect the values held by each society‚ not only in the laws themselves‚ but also in how they are written‚ whom they pertain to and how they are executed. While at first glance the law codes appear similar‚ there are
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MISCEGENATION Morality versus Prejudice in Societal Terms NAME RS-360 Foundations of Christian Morality INSTRUCTOR SCHOOL March 7‚ 2007 Statements that miscegenation destroys every race that practices it are mistaken. In fact‚ miscegenation or race mixing emphasizes a commitment to compromise and compassion for all humankind. Critics advocate that allies of miscegenation jeopardize religious fundamentals‚ such as a Christian ’s posterity or a Muslim ’s forgiveness. Critics also challenge
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