Practice question
Does 2071 include imminent danger of debtor insolvency rather than only completed insolvency?
- No; imminent danger is expressly excluded.
- Yes.
- Only a completed foreign bankruptcy can matter.
- Every ordinary vacation proves insolvency.
- No guarantor can ever seek protection.
Legal references
- Civil Code Articles2052,2056-2057,2066,2071-2084 and2126-2130: https://lawphil.net/statutes/repacts/ra1949/ra_386_1949.html
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