LAW 101: Traffic Right of Way Rules are:

1) First Time Vehicle Rule -
At all intersections without "stop" or "yield" signs, slow down and prepare to stop. Yield to vehicles already in the intersection or about to enter it.

2) Same Time Vehicle Rule -
At all intersections without "stop" or "yield" signs (or with stops in all directions), yield to the vehicle on your right if it has reached the intersection at the same time as your vehicle.

3) Stop Signs -
Stop at any limit line or crosswalk. Yield to all approaching vehicles on the ‘through street’ (a street on which the through movement of traffic is given preference), go only when it is safe for you to cross. Approaching vehicles should slow down and allow you to get across safely.

4) Left Turn -
Signal left turn and yield to approaching traffic until it is completely safe to finish the turn.

5) Rotonda -
Vehicles around the rotunda have the right-of-way over vehicles which are just about to enter.

When entering a highway from a driveway, yield the right-of-way to traffic on the highway. Never insist on taking the right-of-way if other drivers are not following the rules, let them have the right-of-way even if it belongs to you to prevent possible accidents; however, do not always insist on others going ahead of you, slowing and stopping may delay the flow of traffic.

Sources:
1. Land Transportation Office. Taken from http://www.lto.gov.ph/defense2.html, accessed September 16, 2007.
2. Merriam-Webster Online Dictionary. Taken from http://www.m-w.com/cgi-bin/dictionary?va=through%20street, accessed September 16, 2007.