Académique Documents
Professionnel Documents
Culture Documents
PARTIES Creditor - Debtor Depositor - Depositary Creditor - Debtor + Pledgor - Pledgee Mortgagor - Mortgagee Creditor - Antichretic
Bailor - Bailee Guarantor debtor
*Guarantor must be a
person distinct from debtor
since a person cannot be
the personal guarantor of
himself. (See Arts2056-2057
for qualifications.)
OBJECT Commodatum: Non-consumable; may Always movable Only movable or Chattel mortgage: Personal Only covers the fruits
non-consumable (real or be movable or properties. incorporeal properties Property, alienable rights of real/immovable
*Unless stipulated Real mortgage: real
personal property) immovable property.*in properties.
otherwise, pledge extends property, immovables.
Mutuum: Consumable case of extrajudicial *Not applicable to future
deposit, only to the fruits, interests or
(personal property only) property.
movable/corporeal things earnings of the thing.
PURPOSE Commodatum: Use or For safekeeping Security over principal Security over principal Security over principal Recovery of the fruits.
temporary possession * Is the depositary allowed obligation obligation obligation *Apply the fruits of
Mutuum: Consumption to use the object? *Generally gratuitous property first to the
*Loans are generally Generally, no, but there are unless there is contrary interest, if there is any,
exceptions. stipulation. (Art. 2048); then to the principal
gratuitous. Hence, if there
*Generally gratuitous; obligation.
is consideration for the use, ** For the performance of
Exceptions:
then it is not a loan but a a voidable/unenforceable **May guarantee all
A. Contrary stipulation;
lease. B. Depositary is engaged in contract; kinds of obligations, pure
storage business; ***Guarantor cannot bind or conditional.
C. Property saved from himself for more than the
destruction w/o knowledge of principal debtor.
owner.
FORM Not necessarily written; May be written or oral. Must be expressed and The description of the Real estate mortgage: Art. 1956. No Interest
*Art. 1356. but enforceability may (Art. 1969) reduced in writing; thing pledged and the Must appear in a public shall be due unless
Contracts are be a problem if not *Depositary may use the cannot extend to more date must appear in a instrument (Art. 2125); expressly stipulated in
binding in object if expressly
written. authorized by depositor.
than what is stipulated public instrument to covered by Sec. 19, writing.
whatever form therein (Art. 2055) bind third persons but Rule 132 of the RoC. Art. 2134. Amount of
(written/oral) **Effect of authorization:
a. If non-consumable: *Cannot be presumed. not for the validity of *Registration in the registry principal and interest
unless a specific of property is necessary to
contract becomes a **A power of attorney to the contract. shall be in writing
law requires it to bind 3rd persons but not for
commodatum unless loan money does not otherwise contract of
be in some form its validity.
safekeeping is still primary authorize the agent to
in order for it to *Warehouse Receipts ** Where a mortgage is not antichresis shall be
purpose thereof. make the principal liable
be valid or Law valid or false, the principal void.
b. If money/consumable: as a surety for the obligation which it
enforceable. (See contact becomes a mutuum payment of the debt of a guarantees is not rendered
Art. 1403) unless safekeeping is still *Trust Receipts Law
3rd person. null and void. What is lost is
primary purpose, then it *** Falls under Statute of only the right to foreclose the
will be an irregular deposit. Frauds (Art. 1403); mortgage as a special
***Depositary will be liable special promise to pay. remedy for settling the
for loss in case of fortuitous indebtedness; mortgage deed
event if so stipulated remains proof of obligation.
PRINCIPAL CONTRACTS ACCESSORY CONTRACTS
LOAN DEPOSIT GUARANTY PLEDGE MORTGAGE ANTICHRESIS
EXTINGUISH- a. For the same causes as all a. For the same causes
other obligations (Art. 1231);
MENT b. creditor has released the as all other obligations
guarantor although the (Art. 1231);
principal obligation remains b. Return of the thing
(Article 2078);
c. Material alteration w/c pledged by the pledgee
imposes a new obligation or to the pledgor;
added burden on the party c. Statement in writing
promising, or which takes
away some obligation already by the pledgee that he
imposed, changing the legal renounces or abandons
effect of the original contract
and not merely the form
the pledge (Art. 2111);
thereof; d. Sale of the thing
d. Release of one guarantor pledged at a public
by the creditor without the
consent of the other
auction (Art. 2115).
guarantors benefits all to the
extent of the share of the
guarantor released (Article
2078);
e. An extension of the term
granted by the creditor to the
debtor without guarantors
consent extinguishes the
guaranty (Article 2029).
f. The guarantor who pays is
entitled to be subrogated to
all the rights of the creditor
(Article 2067). If there can be
no subrogation because of
the fault of the creditor, as
when the creditor releases or
fails to register a mortgage,
the guarantors are thereby
released. The same rules
apply even though the
guarantors be solidarily
(Article 2080)