The following rules are correct in case the buyer of a subdivision lot fails to pay the installments, except:
A)He is given a grace period of 20 days for every year of payment.
B)He is entitled to 50% reimbursement of payment.
C)There may be cancellation of the contract 30 days after receipt of notice of cancellation.
D)All payments are forfeited.

Question

Quizplus · Accepted Answer

All payments are not forfeited; the buyer is entitled to a reimbursement of a portion of the payments made, typically 50%, as per the Maceda Law in the Philippines.

The Following Rules Are Correct in Case the Buyer of a Subdivision