1.

) “Maceda Law” or The Realty Installment Buyer Protection Act which protects buyers of
residential units on installments against scrupulous sellers/contracts (including residential
condominium apartments, but excluding industrial lots, commercial buildings, and sales to
tenants.
A.) R.A. 6552
B.) P.D. 6552
C.) R.A. 6225
D.) P.D. 6225
Answer: A
2.) The seller may cancel the sale within _ days from the receipt by the buyer of the notice of
cancellation or the demand for rescission of the contract by notarial act.
A.) 60
B.) 20
C.) 30
D.) 40
Answer: C
3.) It was introduced by former Sen. ___ to assist people who fail to pay installments.
A.) Eduardo Maceda
B.) Eddie Maceda
C.) Edgar Maceda
D.) Ernesto Maceda
Answer: D
4.) Section 6 of R.A. 6552
The buyers shall have the right to _____________ any installment or the full unpaid balance of
the purchase price anytime without interest and to have such full payment of the purchase price
annotated in the certificate of title covering the property.
A.) withdraw
B.) pay in advance
Answer: B
5.) If the buyer paid more than 5 years of installments, another __% for every year is to be added
to the refund, but only up to __% of the total payments made.
A.) 5 & 90
B.) 3 & 80
C.) 6 & 60
D.) 8 & 80
Answer: A
6.) On what date does the Maceda Law approved?
A.) August 16, 1972
B.) August 16, 1982
C.) August 26, 1982
D.) August 26, 1972

Answer: D
7.) A flight attendant named Carlos bought a residential lot from Joshua in installments. The
payment has the terms of P150,000 for the down payment and monthly installment of P20,000
for 15 years. Due to the COVID-19 Pandemic, Carlos was laid off from the airlines he is
working for. He failed to pay a month after paying 2 years of installment. If Carlos can still pay,
he will be given how many months grace period? And with or without interest?
Answer: Carlos will be given a 2-month grace period without interest.
8.) Kenneth is an engineer and has his own engineering firm. He bought a residential lot from
Kenji in installments. They had terms for the payment that included a monthly installment of
P30,000 for 15 years and P200,000 of down payment. Kenneth suffered a big loss in his business
and failed to pay a month after paying 1 year of installment. If Kenneth can still pay, how long
will he be given a grace period? And will there be interest or none?
Answer: Kenneth will be given a 60-day grace period with interest.
TRUE or FALSE
9.) On defaulting:
Buyers who fall behind on their installment payments are entitled to pay the unpaid installments
due within the total grace period they have earned, without additional interest. You can have a
one-month grace period for every one (1) year of installment payments made. However, it does
not apply every five years of the contract life and its extensions.
Answer: False
10.) On grace periods:
In times of crisis, like this pandemic, buyers might want to hold on to cash as much as possible.
The Maceda Law grants a two-month grace period as long as you've already finished two years
of installment payments. Taking advantage of this brief reprieve from duties is worth carefully
considering your canceling options. If you've given it some thought and still want to terminate
the contract, you can get a refund of 50% of what you spent if you've made two years' worth of
installment payments.
Answer: True