Section 2
SEC. 2. Article five hundred and thirty-four of the Penal Code is hereby amended to read as follows: "Art. 534. Any person who shall defraud another in the substance, quantity, or quality of anything which he shall deliver to the latter by virtue of an obligation to do so shall suffer : "1. The penalty of arresto mayor in its minimum and medium degrees, if the fraud shall not exceed two hundred ' and fifty pesetas. "2. A penalty ranging from arresto mayor in its medium degree to presidio correccional in its minimum degree, when the fraud is not less than two hundred and fifty and not more than six thousand two hundred and fifty pesetas. "3. The penalty of presidio correccional in its minimum and medium degrees, when the fraud is not less than six thousand two hundred and fifty pesetas and not more than fifty thousand pesetas. "4. The penalty of presidio correctional in its maximum degree to presidio mayor in its minimum degree, when the fraud exceeds fifty thousand pesetas."