Article 314Fraudulent insolvency

Act No. 3815 · Revised Penal CodeKey provision

ELI5— what this means for you

Fraudulent insolvency.

Official text — Act No. 3815

Fraudulent insolvency.

-Any person who shall abscond with his property to the prejudice of his creditors, shall suffer the penalty of prision mayor, if he be a merchant, and the penalty of prision correccional in its maximum period to prision mayor in its medium period, if he be not a merchant.

CHAPTER SIX

SWINDLING AND OTHER DECEITS

Source: lawphil.net (Act No. 3815 as amended)

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