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Act No. 1956 Section 55

Section 55

SEC. 55. In all cases of contingent debts and contingent liabilities, enumerated by the debtor, and not herein otherwise provided for the creditor may make claim therefor and have his claim allowed, with the right to share in the dividends, if the contingency shall happen before the order of the final dividend; or he may, at any time, apply to the court to have the present value of the debt or liability ascertained and liquidated, which shall be clone in such manner as the court shall order, and it shall be allowed for the amount so ascertained.

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Other provisions in CHAPTER VIII

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

CitationAct No. 1956 Section 55 (LawPlayer, data as of July 4, 2026)

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

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