Act No. 2427 Section 123

Section 123

SEC. 123. An actual total loss is caused by: (a) A total destruction of the thing insured; (b) The loss of the thing by sinking, or by being broken up; (c) Any damage to the thing which renders it valueless to the owner for the purposes for which he held it; or (d) Any other event which entirely deprives the owner of the possession, at the port of destination, of the thing insured.

Read the full instrument → · Open the chapter this section belongs to: CHAPTER II.—Marine insurance. →

Other provisions in CHAPTER II.—Marine insurance.

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. 2427 Section 123 (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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