Beruflich Dokumente
Kultur Dokumente
A. Definition
Loan/Mutuum, Commodatum, Deposits, Guaranty, Pledge, Mortgage,
AntiChresis
B. Characteristics
C. Distinctions
E. Kinds
F. Voluntary Deposit
G. Obligations of the Depositary
H. Persons to whom Return of Thing Deposited Must be Made
I. Place of Return of Thing Deposited
J. Time of Return of Thing Deposited
General Rule: Upon demand or at will, whether or not a period has been
stipulated.
K. Right of Depositary to Return Thing Deposited
L. Alteration of Depositary’s Heir
M. Relation between Bank and Depositor
N. Obligations of Depositor
1. He is obliged to pay expenses for the preservation of the thing deposited, if
deposit is gratuitous.
2. He is obliged to pay for losses incurred due to the character of the thing
deposited.
See Exceptions:
O. Necessary Deposit
1. Hotelkeeper is liable regardless of the amount in the following cases:
2. Hotelkeeper is not liable in the following cases:
P. Judicial deposit or Sequestration
Art. 2005. A judicial deposit or sequestration takes placewhen an
attachment or seizure of property in litigation is ordered.
V. GUARANTY
A. Definition -
B. Characteristics
B.2 SURETYSHIP
C. Distinction between Guaranty and Suretyship
D. Recent Jurisprudence on Suretyship
Exceptions:
a) if guarantor has expressly renounced excussion
b) if guarantor has bound himself solidarily with the debtor (suretyship)
c) in case of debtor’s insolvency
d) when guarantor has absconded or cannot be sued within the
Philippines unless he left a manager or representative
e) if it may be presumed that an execution on the debtor’s property will
not satisfy the obligation
f) if guarantor does not set up the benefit of excussion and fails to point
out to the creditor available property of the debtor within the
Philippines
g) if he is a judicial bondsman and sub-surety
h) where a pledge or mortgage has been given by the guarantor as a
special security
i) if guarantor fails to interpose it as a defense before judgment is
rendered against him (Saavedra vs. Price, 68 Phil. 669)
2. A compromise between the creditor and the principal debtor benefits the
guarantor but does not prejudice him. A compromise which is entered into
between the guarantor and the creditor benefits but does not prejudice the
principal debtor (Article 2063).
Exceptions: a) solidarity
B) if any of the circumstances in Article 2057 should take
place.
Exceptions:
2. Guarantor has the right of subrogation against the debtor to enable him to
enforce the indemnity granted in Article 2066 and he cannot demand more than
what he actually paid (Article 2067).
3. Guarantor has the right to proceed against the debtor even before
payment in the following instances:
1. The obligation of several guarantors of the same debtor and for the same
debt is joint and each is bound only to pay his proportionate share. Therefore,
one who has paid the entire debt may seek reimbursement from each of his co-
guarantors the share which is proportionately owing him.
Requisites:
a) payment must have been made by virtue of a judicial demand or
b) because the principal debtor is insolvent
a) payment or performance;
b) loss of the thing due
c) condonation or remission of the debt
d) confussion or merger of the rights of the creditor and debtor
e) compensation
f) novation
PLEDGE
Kinds of pledge
1. Conventional or voluntary- that which is constituted by the mutual consent of the pledgor
and the pledgee.
2. Legal- that which is created by operation of law.
Conventional Pledge
Requisites
Object of the pledge
Extinguishment of pledge
1. Indirect cause- When the principal obligation secured by the pledge is extinguished, the
pledge, being merely an accessory contract, is likewise extinguished.
Real Mortgage
Requisites of real mortgage
Object of real mortgage
Kinds of foreclosure
Redemption
A transaction through which the mortgagor, or one claiming in his right, by means of
payment or the performance of the condition, reacquires or buys back the value of the title
which may have passed under the mortgage, or divests the mortgaged premises of the lien
which the mortgage may have created.
Kinds of redemption
1) Equity of redemption- This refers to the right of the mortgagor to redeem the
mortgaged property after his default in the performance of his obligation but before
the property is sold.
a) In judicial foreclosure, the mortgagor is given not less than 90 days to pay the
mortgage debt before the property is sold.
b) In extra-judicial foreclosure, the mortgagor may avail himself of this right after his
default but before the sale of the property.
2) Right of redemption- this refers to the right of the mortgagor to repurchase the
property within a certain period after it was sold for the payment of the mortgage
debt.
a) In judicial foreclosure, the mortgagor may redeem the property after the sale and
before the confirmation by the court of the sale.
b) In extra-judicial foreclosure, the mortgagor has one year from the date of sale to
redeem the property.
Foreclosure sale
The proceeds of sale shall be distributed as follows:
1) The costs of sale.
2) Claim of the person foreclosing the mortgage.
3) Claims of persons holding subsequent mortgages in their order.
4) Balance, if any, shall be paid to the mortgagor.
Deficiency judgment
If the proceeds of sale are not sufficient to satisfy the claim of the creditor, the creditor
may institute a court action to recover the deficiency
ANTICHRESIS
Antichresis
A contract whereby the creditor acquires the right to receive the fruits of an immovable
of his debtor, with the obligation to apply them to the payment of the interests, and
thereafter to the principal of his credit.
Requisites of antichresis
1. That it be constituted to secure the fulfillment of a principal obligation.
2. That the debtor be the absolute owner of the immovable property
3. That the debtor must have the free disposal of such immovable property, and in the
absence thereof, that he be duly authorized for the purpose.
4. That the amount of the principal and the interest must be in writing; otherwise, the
antichresis is void.
Application of the fruits of the immovable
1) The taxes and charges upon the immovable.
2) The expenses for preservation and repair.
3) Interests on the principal obligation.
4) Principal obligation