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CA 694 Section 5

Section 5

SEC. 5. The machinery, tools and equipment purchased by the Corporation shall be sold to farmers who may pay the same in cash at their cost price or under liberal terms in installments payable within a period not exceeding ten years: Provided, That in the latter case the payment of the purchase price shall be secured by a mortgage of such portion of the standing crop belonging to the purchaser as may be equivalent to the annual installment due and by a mortgage or pledge of the machinery, tool or equipment sold, if the purchaser is a landowner, and by a further guarantee of the owner of the land leased to the purchaser or of a duly qualified farmers cooperative of which he is a member, in case the purchase is a lessee.

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Other provisions in CA 694

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

CitationCA 694 Section 5 (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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