SeoanevFranco

GRNo.L7859,12February1913
Moreland,J.:
FACTS: Plaintiff borrowed money from defendant. To secure the payment of the loan, a
mortgagewasexecutedonthe13th ofOctober1884.Plaintiffagreedtopaythesumlittleby
little.Defendantdemandedpaymentoftheloanin1911onthe8 th ofAugust.Atthispoint,
nothinghasbeenpaideitheroftheprincipalorofinterest.TheCourtofFirstInstancedecidedin
favorofplaintiffandheldthattherightofactionuponthemortgagedebt,whichwasthebasisof
theclaimagainsttheplaintiffsestate,hadprescribed.Defendantappealed.
ISSUE:Hasthedefendantscauseofactionuponthemortgagedebtprescribed?
RULING:YES.TheCourtheldthattheapplicableprovisioninthiscaseisArticle1128ofthe
CivilCode.Thenatureoftheobligationshowsthatthedurationoftheperiodforthepayment
thereofwaslefttothewillofthedebtorbystatingthatthesamecanpaylittlebylittle.Insuch
acase,thedefendantshouldfirstpetitionthecourttofixadateonwhichtheinstrumentshould
becomedueandpayableasperArt.1128.Onlyafterthefixingofthedatecanasuitforrecovery
oftheamountcanbemade.Assuch,theinstantsuitforrecoverofthemoneyispremature.
Thoughthedefendantcanhereafterfileasuitforthecourttofixadate,thesamewillnotprosper
becausehiscauseofactionhasalreadyprescribed.Section28oftheCodeofCivilProcedure
states that all rights of action which have already accrued must be vindicated by the
commencementofanactiontoenforcethesamewithinten(10)yearsaftertheCodecomesinto
effect.