Practice question
A statutory maximum price is PHP500. A buyer pays PHP650 in the covered transaction. No other adjustment applies. Under1417, what is the recoverable excess?
- PHP150
- PHP650 automatically as excess
- PHP500
- Zero because the buyer signed
- PHP1,150
Legal references
- Civil Code RA386: https://lawphil.net/statutes/repacts/ra1949/ra_386_1949.html Articles5 and1416–1422.
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