Practice question
What right does section 6 give the buyer concerning advance payment?
- The seller may forbid all advance payment absolutely.
- The buyer must wait until the last due date before paying in full.
- Advance payment automatically forfeits all prior installments.
- Only the seller may decide whether the buyer is legally permitted to prepay.
- The buyer may pay an installment or the full unpaid purchase-price balance in advance without interest.
Legal references
- https://lawphil.net/statutes/repacts/ra1972/ra_6552_1972.html — RA 6552, sections 3–7.
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