Philippine Bar review · Question

Practice question: Computation of Installment Payments

Multiple Choice Medium

Practice question

A covered buyer has paid exactly six qualifying years of installments totaling ₱1,200,000. No independent full-refund ground is asserted. What is the section 3 cash surrender value upon cancellation?
  1. ₱120,000.
  2. ₱600,000.
  3. ₱720,000.
  4. ₱1,200,000.
  5. ₱660,000.

Legal references

  • https://lawphil.net/statutes/repacts/ra1972/ra_6552_1972.html — RA 6552, sections 3–4.
  • https://lawphil.net/judjuris/juri2007/jan2007/gr_167452_2007.html — Jestra Development v Pacifico, GR 167452, January 30 2007, main opinion: down-payment schedule and penalty distinction.
  • https://lawphil.net/judjuris/juri2019/nov2019/gr_212740_2019.html — Spouses Francisco v Battung, GR 212740, November 13 2019, main opinion: installment value and time.

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