This case has been cited 1 times or more.
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2003-12-11 |
TINGA, J. |
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| At any rate, the grant of the right to repurchase to respondents is in accordance with the third paragraph of Article 1606, a provision not found in the old Civil Code. The legislative intent behind this Article, along with Articles 1602-1605 and 1607 of the same Code, is "to accord the vendor a retro the maximum safeguards for the protection of his legal rights under the true agreement of the parties. Experience has demonstrated too often that many sales with right to repurchase have been devised only to circumvent or ignore our usury laws and for this reason, the law looks upon then with disfavor."[8] | |||||