All ▸ Bar 2024 ▸ CIVIL LAW ▸ I. EFFECT AND APPLICATION OF LAWS ▸ K. Legal Periods (Civil Code, Art. 13, as amended by Book I, chapter 8, sec. 31 of the Administrative Code of 1987 (E.O. No. 292))

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Question:

Mr. Santos, a lawyer, is handling a case involving a contract dispute between two parties. The contract stipulates that any breach of the terms and conditions shall be subject to a penalty. The contract further provides that the penalty shall be due and demandable within 30 days from the date of breach.

Unfortunately, one of the parties failed to comply with their obligations under the contract, resulting in a breach. Mr. Santos sends a demand letter to the breaching party, requesting payment of the penalty within the specified period. However, the breaching party ignores the demand letter and fails to settle the penalty.

Based on the given scenario, answer the following questions:

What is the legal period applicable to the demand for payment of the penalty?
What are the legal implications if the penalty is not paid within the specified period?

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