Republic Acts1 min read
Section 48August 30, 1954, Sec./Art. 48
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Loans and Interests. - Loans, either in money or in kind, obtained by a tenant-lessee from the landholder lessor shall be payable at the time stipulated: Provided, however, That this shall not be construed as prejudicing the right of the borrower to repay his obligation before the date of maturity. The loan, unless it is otherwise stipulated, shall be payable in money at not more than eight per cent interest per annum, computed from the date of the indebtedness was contracted up to and including the date of payment. A note or memorandum to evidence such indebtedness shall be executed in accordance with the provisions of Section sixteen.
PART IV
SECURITY OF TENURE
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