Jump to content

rico_chet

[03] MEMBER
  • Posts

    54
  • Joined

  • Last visited

Posts posted by rico_chet

  1. it will be a corporation already if you have more than one partner.

     

     

    with all due respect, I disagree, there is no general law stating that if you have more than one partner, our general partnership will be a corporation.

     

    It will be a corporation, if you incorporate. If you add in another general partner, the legal effect would be the dissolution of the old partnership and the creation of another, however, there is really no actual requirement for this, except for accounting purposes.

  2. So Baviera is still there? Does she miss Ambion? :D

     

     

    yes bavier is still there according to one of my associates who recently graduated, unfortunately she bears no love lost for ambion. hehehehehehehhe

  3. The Maceda law is RA 6552, otherwise known as the Realty Installment Buyer Protection Act.

     

    In the words of Baviera:

     

    the law provides in sales or financing of real estate on installment payments where the buyer has paid at least two years of installments that in case he defaults in the payment of succeeding installments, he has a right to pay, without additional interest, the arrears within a grace period of one month for every year of installment payments made; and if the contract is cancelled, the seller shall refund to the buyer the cash surrender value of payments made, equivalent to 50% of the total payments made and an additional 5% for every year after five years of the life of the contract and its extensions, if any. Actual cancellation shall not take place until after 30 days from receipt by the buyer of the notice of cancellation or demand for rescission by a notarial act, and only upon full payment of the cash surrender value to the buyer. Downpayments, deposits or options in the contract shall be included in the computation of the total number of installments made. The right to pay the arrears within the grace period could only be availed of by the buyer once in every five years of the life of the contract.

     

    In case less than two years of installments were paid, the grace period within which to pay the arrears shall not be less than 60 days from the date the installment became due.

     

     

    How did you know baviera? taga diliman ka ano? anong frat mo? hehehehehehehehehe

×
×
  • Create New...