Article 2114

RA 386 · Civil Code of the PhilippinesKey provision

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All bids at the public auction shall offer to pay the purchase price at once.

Official text — RA 386

All bids at the public auction shall offer to pay the purchase price at once. If any other bid is accepted, the pledgee is deemed to have been received the purchase price, as far as the pledgor or owner is concerned. (n)

Source: lawphil.net (RA 386 as amended)

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