Practice question
What limits nonjudicial repossession under Section 47(a)?
- The creditor’s preference alone
- Only the collateral’s price
- No limit after default
- Only the creditor’s company logo
- The agreement must stipulate it and possession must be taken without breach of the peace
Legal references
- RA 11057, Section 47(a): https://lawphil.net/statutes/repacts/ra2018/ra_11057_2018.html
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