Practice question
What is the section 3 cash-surrender-value base percentage before additional increments after five years apply?
- Ten percent.
- Twenty-five percent.
- One hundred percent.
- Fifty percent of total payments made.
- Ninety-five percent in every case.
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.
Answer this question in flashcards to review your response and continue practicing.