[Solved] A entered into a contract to sell over a residential lot. He has already paid more than 2 years installments. Thereafter, he failed to pay. What right does A have if the contract is cancelled?

Q.	A entered into a contract to sell over a residential lot. He has already paid more than 2 years installments. Thereafter, he failed to pay. What right does A have if the contract is cancelled?
A.	He has the right of reimbursement of all his payments regardless of the number of years of payment;
B.	He has the right to seek for a grace period of 1 month for every year of installment payments;
C.	He has the right of refund of the cash surrender value of the payments on the property equivalent to 50% of the total payments made;
D.	He has the right of reimbursement of 100% of his installments after payment for five (5) years.
Answer» C. He has the right of refund of the cash surrender value of the payments on the property equivalent to 50% of the total payments made;

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