Practice question
A section 3 buyer receives compliant notice and waits more than thirty days, but the seller never pays the surrender value. Explain the effect on the asserted cancellation and why the lapse of time alone is insufficient.
Legal references
- https://lawphil.net/statutes/repacts/ra1972/ra_6552_1972.html — RA 6552, sections 3–5 and7.
- https://lawphil.net/judjuris/juri2007/jan2007/gr_167452_2007.html — Jestra Development v Pacifico, GR 167452, January 30 2007, main opinion: section 4 two-step cancellation.
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