Practice question
Under section 4, what minimum grace period must be given where less than two years of installments were paid?
- Seven days from the seller’s private decision.
- Thirty days from signing in every case.
- One month for every missed day.
- Not less than sixty days from the date the installment became due.
- No grace period.
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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