Which statement about the publication requirement for extrajudicial settlement is correct?

Which statement about the publication requirement for extrajudicial settlement is correct?

• A. Must be published in a newspaper of general circulation once a week for three consecutive weeks in the province.
• B. Must be posted on the courthouse bulletin board.
• C. Publication is required only if creditors exist.
• D. Must be published in the Official Gazette.

Answer: (A)

The key idea is that extrajudicial settlements must be publicly noticed so creditors and other potential claimants can come forward. The standard method is publication in a newspaper of general circulation in the province where the estate is located, once a week for three consecutive weeks. This public notice starts the running four-month period during which creditors may file claims. Posting on a courthouse bulletin board doesn’t give the broad public notice required, and the rule isn’t contingent on whether creditors are known to exist. The official Gazette isn’t the mandated method in this typical scenario, since the common practice is publication in a general-circulation newspaper.

The key idea is that extrajudicial settlements must be publicly noticed so creditors and other potential claimants can come forward. The standard method is publication in a newspaper of general circulation in the province where the estate is located, once a week for three consecutive weeks. This public notice starts the running four-month period during which creditors may file claims. Posting on a courthouse bulletin board doesn’t give the broad public notice required, and the rule isn’t contingent on whether creditors are known to exist. The official Gazette isn’t the mandated method in this typical scenario, since the common practice is publication in a general-circulation newspaper.