Practice question
Absent contrary stipulation and the statutory exceptions, what does the penalty replace upon noncompliance?
- Every principal obligation automatically
- Only the creditor’s identity
- Indemnity for damages and payment of interests
- All taxes imposed by law
- Every judicial remedy
Legal references
- Civil Code, Article 1226: https://elibrary.judiciary.gov.ph/thebookshelf/showdocs/2/53360
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