Practice question
A creditor has a valid judgment on an ordinary business loan and finds a protected dollar deposit. The creditor cites Salvacion and argues that every unpaid civil judgment now overrides foreign-currency protection. No comparable extraordinary facts or other exception exist. Which is best?
- Salvacion must be read in its exceptional facts and does not create an automatic exception for every ordinary debt
- Salvacion repealed all foreign-currency secrecy and execution rules
- Every judgment creditor automatically owns all dollar accounts
- Only a creditor's disappointment matters
- The statutory text is irrelevant after any lawsuit
Legal references
- RA 6426 Section 8,as amended by PD 1246 Section 2: https://lawphil.net/statutes/presdecs/pd1977/pd_1246_1977.html
- Salvacion v Central Bank,GR 94723,August 21 1997,main opinion: https://lawphil.net/judjuris/juri1997/aug1997/gr_94723_1997.html
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