Civil code- credit transactions?? naa pud sa Commercial Law???

1.What are the kinds of redemption?

Category: Credit Transactions 1. Equity of redemption right of mortgagor to redeem the mortgaged property after his default in the performance of the conditions of the mortgage but before the sale of the mortgaged property or confirmation of sale. It applies in case of judicial foreclosure.

1. Right of redemption right of the mortgagor to redeem the mortgaged property within one year from the date of registration of the certificate of sale. It applies in case of extrajudicial foreclosure.

2.

Difference Between Guarantee and Suretyship

Category: Credit Transactions

What is the distinction between Guaranty and Suretyship?

1. Guaranty is collateral while Surety is an original promissory undertaking. 2. In guaranty, the guarantor is primarily liable while in suretyship, the surety is secondarily available. 3. The guarantor binds himself to pay if the principal cannot pay. The surety undertakes to pay if the principal does not pay. 4. The guarantor is the insurer of the solvency of the debtor. The surety is the insurer of the debt.

5. The guarantor can avail of the benefit of excussion and division in case the creditor proceeds against him. The surety cannot avail of the benefit of excussion and division.

3.Distinguish Commodatum from Mutuum

Category: Credit Transactions

Distinction Between Commodatum and Mutuum

1. The object of commodatum are Non-consumable (Non-fungible); in Mutuum Consumable goods. 2. The cause for commodatum is Gratuitous otherwise it is a lease; in Mutuum it may or may not be gratuitous. 3. The purpose in commodatum is for use or temporary possession; in mutuum it is for consumption. 4. The subject matter in commodatum is real or personal property while it is only personal property in mutuum. 5. The ownership of the thing is retained by the the bailor in commodatum while in mutuum, it passes to the debtor. 6. The thing to be returned in commodatum is the exact thing loaned while in mutuum, it is a thing of equal amount of the same kind and quality. 7. In commodatum, it is the bailor who bears the risk of loss; while in mutuum, it is the debtor. 8. In commodatum, the thing maybe returned even before the expiration of the term in urgent cases; however, in mutuum, it must be after the expiration of the term. 9. Commodatum is a contract of use while mutuum is a contract of consumption.