Text of the provision
Sec. 8. Dividends to be paid in proportion to claims. — If there are no assets sufficient to pay the credits of any one class of creditors after paying the credits entitled to preference over it, each creditor within such class shall be paid a dividend in proportion to his claim. No creditor of any one class shall receive any payment until those of the preceding class are paid.
Rules of Court, Rule 88, Section 8. Reproduced verbatim and verified word-for-word against four independently published renderings of the Rules of Court — only text on which at least two independent publishers agree is shown.
About this section
This is Section 8 of Rule 88 (Payment Of The Debts Of The Estate) of the Rules of Court of the Philippines — the Special Proceedings rules (Rules 72–109), in force since January 1, 1964. The text above is reproduced verbatim.
Related provisions
- Section 7 — Order of payment if estate insolvent.
- Section 9 — Estate of insolvent nonresident, how disposed of.
Cases citing this section
- Authorities on this section will be added here as each is verified against primary sources.