Free Legal Advice Philippines
Would you like to react to this message? Create an account in a few clicks or log in to continue.
Free Legal Advice Philippines

Disclaimer: This web site is designed for general information only and does not create attorney-client relationship. Persons accessing this site are encouraged to seek independent counsel for legal advice regarding their individual legal issues.

Log in

I forgot my password




You are not connected. Please login or register

BOND REQUIRED TO BE PUT UP BY THE WAREHOUSEMAN

Go down  Message [Page 1 of 1]

barrister

barrister
Reclusion Perpetua

1. The bond may either be a cash bond or a bond secured by real estate, or a bond issued by a duly authorized bonding company.
2. The amount of the bond must not be less than 33 1/3 % of the market value of the maximum quantity of the commodity to be received by the warehouseman.
3. It shall be so conditioned as to respond for the market value of the commodity actually delivered and received at any time by the warehouseman in case the latter is unable to return the commodity or to pay its
value. (Sec. 4)

Back to top  Message [Page 1 of 1]

Permissions in this forum:
You cannot reply to topics in this forum