CHAN ROBLES AND ASSOCIATES LAW FIRM - Welcome to the Home of the Philippine On-Line Legal Resources

Philippine Laws, Statutes & Codes

ON-LINE
.
Sponsored by:  The ChanRobles Group

A collection of Philippine laws, statutes and codes
not included or cited in the main indices
of the Chan Robles Virtual Law Library.





google search for chanrobles.com Search for www.chanrobles.com

Google
 
Web www.chanrobles.com




THE CHAN ROBLES VIRTUAL LAW LIBRARY - QUICK GLANCE
 Philippines| Worldwide|The Business Page





REPUBLIC ACT NO. 919


 


REPUBLIC ACT NO. 919 - AN ACT TO AMEND REPUBLIC ACT NUMBERED FOUR HUNDRED AND ONE, AS AMENDED BY REPUBLIC ACT NUMBERED SIX HUNDRED AND SEVENTY-ONE, ENTITLED, "AN ACT TO CONDONE ALL UNPAID INTEREST ACCRUING FROM JANUARY FIRST, NINETEEN HUNDRED AND FORTY-TWO TO DECEMBER THIRTY-FIRST, NINETEEN HUNDRED AND FORTY-FIVE ON ALL OBLIGATIONS OUTSTANDING ON DECEMBER EIGHT, NINETEEN HUNDRED AND FORTY-ONE, AND TO APPLY PAYMENTS OF INTEREST PAID AFTER FEBRUARY TWENTY-EIGHT, NINETEEN HUNDRED AND FORTY-FIVE, TO THE PRINCIPAL OBLIGATION IF STILL OUTSTANDING, IN CERTAIN CASES"



Section 1.    Section two (d) of Republic Act Numbered Four hundred and one is hereby amended to read as follows:

"Sec. 2. (d)    When the debtor was unable to pay an obligation which became due and demandable, or the interest which should have been paid during the said period because the assets of the creditor were under the control of the enemy and/or administered through the so-called Enemy Alien Property Custodian or other enemy instrumentality, and the debtor paid the interests to it in the belief that such payment was valid and effective payment to the creditor or because of fear that failure to comply with the demand would lead to reprisals on his person or property. 

"If the debtor, however, makes a voluntary payment of the entire pre-war unpaid principal obligation on or before December thirty-one, nineteen hundred and fifty-four, the interests on such principal obligation corresponding from January one, nineteen hundred and forty-six, to the date of payment are likewise hereby condoned."

Section 2.    This Act shall take effect upon its approval.

Approved: June 20, 1953

chan robles virtual law library


Back to Home  -  Back to Main
chanroblesvirtuallawlibrary











 Copyright © 1998-2007 by 
ChanRobles Publishing Company 
 All Rights Reserved 
A production of The ChanRobles Group
Questions and comments mailto: 
cralaw@chanrobles.com or jgc@chanrobles.com
Designed & Maintained by:
Harvard Computer Systems, Inc. 

Since 19.07.98.






google search for chanrobles.com Search for www.chanrobles.com

Google
 
Web www.chanrobles.com
.