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A collection of Philippine laws, statutes and codes not included or cited in the main indices of the Chan Robles Virtual Law Library.
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ACT NO. 2125 - AN ACT AMENDING
SECTION FOURTEEN OF ACT NUMBERED ELEVEN HUNDRED AND TWENTY, BY
PROVIDING FOR THE SUSPENSION OF PAYMENTS OF RENTALS OR INSTALLMENTS ON
THE PURCHASE PRICE OF THE SO-CALLED FRIAR LANDS, AND THE INTEREST
THEREON, IN THE EVENT OF CALAMITIES ARISING IN CONSEQUENCE OF THE ACTS
OF GOD OR OF THE PUBLIC ENEMY.
Section 1.
"Provided, That when, by reason
of fire, flood, drought, or other calamity arising in consequence of
the act of God or of the public enemy, the crops of a lessee or
purchaser shall be damaged or destroyed to such an extent that the
prevailing market value of the harvest for the year in which such
calamity occurs shall be less than one-half of the value of an average
annual harvest, the Director of Lands, by administrative order, shall
suspend the collection of rental, or the installment of the purchase
price, or interest due on the deferred payments, or both installment
and interest, corresponding to the periods of such calamity, if it
shall be made to appear to his satisfaction that such loss has actually
occurred, without contributory negligence on the part of said lessee or
purchaser, and that the latter has no sufficient income other than that
derived from the sale of his crops from which to make payment of the
rental or installment and interest due.
"The rental or installment or interest so suspended shall be
distributed through the periods remaining on the contract of lease or
the sale certificate."
Sec. 2.
chanrobles virtual law library
Since 19.07.98.