[Answer/discuss the question below, or see 2017 bar exam Mercantile Law Instructions; Also check the other 2017 Mercantile Law Questions:1, 2, 3, 4, 5, 6, 7, 8, 9, 10, and 12; See also 2017 Bar Exam: Information, Discussions, Tips, Questions and Results]
TRUE or FALSE – Explain briefly your answer.
(a) A conviction under the Trust Receipts Law shall bar a prosecution for estafa under the Revised Penal Code. (2%)
(b) The term capital in relation to public utilities under Sec. 11, Art. XII of the 1987 Constitution refers to the total outstanding capital stock comprising both common and non-voting preferred shares. (2%)
(c) Forgery is a real defense but may only be raised against a holder not .in due course. (2%)
(d) News reports are not copyrightable. (2%)
(e) The law on life insurance prohibits double insurance. (2%)