Practice question
A Section4 buyer has an expressly agreed ninety-day grace period that is still running. The seller relies on the statutory sixty-day minimum to disregard the remaining agreed protection. What is correct?
- The statutory minimum alone does not erase the longer valid agreed grace
- Every longer buyer protection is void
- Sixty days is always a compulsory cancellation deadline
- The seller automatically owns all buyer payments on day sixty
- A longer period removes the transaction from RA6552
Legal references
- RA6552: https://lawphil.net/statutes/repacts/ra1972/ra_6552_1972.html Sections3–5,7.
- Jestra Development v Pacifico GR167452 January30,2007 MAIN: https://lawphil.net/judjuris/juri2007/jan2007/gr_167452_2007.html Section4 sequential cancellation requirements.
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