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Act No. 3616 — An Act Amending Paragraph Two, Section Seventy-One of Act Numbered Nineteen Hundred and Fifty-Six, Entitled "The Insolvency Law."

Act No. 3616 — An Act Amending Paragraph Two, Section Seventy-One of Act Numbered Nineteen Hundred and Fifty-Six, Entitled "The Insolvency Law."

Act No. 3616 · Act · Approved December 4, 1929 · 2 sections

Data as of July 4, 2026 · Compiled from an official source version. Later amendments or repeals may not be reflected; the official text prevails. · Read the official text ↗

Preamble

"2. If he shall, within three months before commencement of proceedings in insolvency, under the false pretense of carrying on business and dealing in the ordinary course of trade, obtain on credit from any person any goods or chattels or shall pawn, pledge, or dispose of, otherwise than by bona fide transactions in the ordinary course of his trade, any of his goods and chattels which have been obtained on credit and remain unpaid for, or shall have suffered loss in any kind of gaming when such loss is one of the causes determining the commencement of proceedings, in insolvency, or shall have sold at a loss or for less than the current price any goods bought on credit and still unpaid for, or shall have advanced payments to the prejudice of his creditors."

Section 2

SEC. 2. This Act shall take effect on its approval. Approved, December 4, 1929.

Source: Supreme Court E-Library, Republic of the Philippines. Philippine laws are public documents (works of the government).

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