Practice question
Under Section 52, what must the secured creditor do with a surplus from disposition after the prescribed applications?
- Keep it without accounting
- Account to the grantor for the surplus
- Automatically give it to a stranger
- Burn the accounting records
- Treat it as a criminal fine
Legal references
- RA 11057, Section 52(b): https://lawphil.net/statutes/repacts/ra2018/ra_11057_2018.html
Answer this question in flashcards to review your response and continue practicing.