Practice question
A fisherman owns one livelihood fishing boat and its accessories worth PHP90,000 in total. No price, mortgage or other overriding exception applies. Which Section13 category is relevant?
- The one-fishing-boat-and-accessories exemption within PHP100,000
- A limitless shipping-fleet exemption
- Only the professional-library category
- No category merely because it is a boat
- An exemption for all commercial vessels
Legal references
- Rules of Court Rule39 relevant sections: https://lawphil.net/courts/rules/rc_1-71_civil.html Section13(c),(e)–(h),(j)–(m), subject to its express exceptions.
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