Practice question
An ordinary contract creditor seeks the same treatment for a protected foreign-currency deposit solely because peso deposits may be garnished. No special exception or waiver of the execution protection is established. Which is best?
- Every currency follows exactly the same rule
- Ortega automatically repealed RA 6426
- Any debt automatically removes the special exemption
- Foreign currency deposits never belong to anyone
- The creditor must confront the separate statutory foreign-currency execution protection
Legal references
- RA 6426 Section 8,as amended by PD 1246 Section 2: https://lawphil.net/statutes/presdecs/pd1977/pd_1246_1977.html
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