Practice question
Who fits section 94’s suspension-of-payments premise?
- A corporation solely because it wants lower taxes
- An individual with sufficient property for all debts but foreseeable inability to pay them when due
- Only a bank under closure
- Only an individual with no debts
- Only a foreign government
Legal references
- https://lawphil.net/statutes/repacts/ra2010/ra_10142_2010.html — RA 10142, sections 94–102
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