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Article 1484 of the Civil Code provides for the remedies of a seller in contracts of sale of personal property by installments, and incorporates the provisions of Act No. 4122, known as the Installment Sales Law or the Recto Law, which then amended Article 1454 of the Civil Code of 1889.
RATIONALE - the object of Recto Law was to remedy the abuses committed in connection with the foreclosure of chattel mortgages and was meant to prevent mortgagees from seizing the mortgaged property, buying it at foreclosure sale for a low price and then bringing suit against the mortgagor for a deficiency judgment.
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Who are the proponents of Rizal law?
Senator Claro M. Recto is the proponent of the Rizal Law in the Philippines
Why did recto impose the rizal law?
Claro Recto imposed the Rizal Law as a way of paying honor to Rizal and other heroes that were being forgotten about. The Rizal Law made it mandatory for the teachings of these heroes in all schools.
Who are the personalities behind the law republic act 1425?
claro m recto
Who is the original author of Rizal law?
The original author of the Rizal Law in the Philippines is Senator Claro M. Recto. The law mandates the teaching of the life, works, and writings of Jose Rizal in all educational institutions in the country.
What is the recto law of the Philippines?
Act No. 4122, known as the Installment Sales Law or the Recto Law, amended Article 1454 of the Civil Code of 1889 of the Philippines. The object of Recto Law was to remedy the abuses committed in connection with the foreclosure of chattel mortgages and was meant to prevent mortgagees from seizing the mortgaged property, buying it at foreclosure sale for a low price and then bringing suit against the mortgagor for a deficiency judgment. The provisions of Recto Law are applicable to financing transactions derived or arising from sales of movables on installments, even if the underlying contract at issue is a loan because the promissory note has been assigned or negotiated by the original seller.
What is the educational background of Claro M Recto?
Claro M. Recto has written: 'The complete works of Claro M. Recto' 'Senator Claro M. Recto on the Formosa question' -- subject(s): Defenses 'Bajo los cocoteros =' 'Recto reader' -- subject(s): Politics and government 'For Philippine survival' -- subject(s): Foreign relations, Nuclear disarmament 'Solo entre las sombras' 'The Recto valedictory ; and, The Recto day program 1985' -- subject(s): Politics and government, Political and social views
What is the postal code in recto manila?
recto
What is the birth name of Plinky Recto?
Plinky Recto's birth name is Marie Roxanne G. Recto.
La mode recto verso?
la mode recto verso
When was Recto LRT Station created?
Recto LRT Station was created in 2004.
When was Ralph Recto born?
Ralph Recto was born on 1964-01-11.
Who author of Rizal Law?
The Rizal Law, officially known as Republic Act No. 1425, was authored by Claro M. Recto, a prominent Filipino statesman and lawmaker. The law mandates the teaching of the life, works, and writings of national hero Jose Rizal in all educational institutions in the Philippines.
