Practice question
A covered buyer has made exactly four qualifying years of installment payments and is entitled to the earned grace right, which has not been used within five years. What is the earned grace period?
- Four months
- Four days
- One month
- Four years
- Zero because more than two years were paid
Legal references
- RA6552: https://lawphil.net/statutes/repacts/ra1972/ra_6552_1972.html Section3(a)–(b).
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