Practice question
A qualified buyer has paid exactly three years of installments totaling ₱720,000 and has not used the earned-grace right within the relevant five-year interval. Compute the earned grace period and the section 3 cash surrender value if cancellation later occurs. Assume no independent refund ground.
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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