Article 1155
ELI5— what this means for you
The prescriptive period is interrupted (the clock stops and resets) when: (1) the action is filed in court, (2) the debtor acknowledges the debt in writing, (3) there is any extrajudicial demand.
Key point
Sending a formal demand letter interrupts prescription — the 10-year (or other) period starts over.
Official text — RA 386
The prescription of actions is interrupted when they are filed before the court, when there is a written extrajudicial demand by the creditors, and when there is any written acknowledgment of the debt by the debtor. (1973a)
BOOK IV
Obligations and Contracts
TITLE I
Obligations
CHAPTER 1
General Provisions
Source: lawphil.net (RA 386 as amended)
Related
RELATED RIGHTS
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