Page 387 - Important Provisions of The New Civil Code

is that the transaction shall secure the

payment of a debt or the performance of

any other obligation.

In any of the foregoing cases, any money, fruits,

or other benefit to be received by the vendee

as rent or otherwise shall be considered as

interest which shall be subject to the usury laws.

(n)

Article 1603. In case of doubt, a contract

purporting to be a sale with right to repurchase

shall be construed as an equitable mortgage.

(n)