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01 Calibo vs. CA
01 Calibo vs. CA
University of the Philippines College of Law
NBB
NOTES
ART 2085. The following requisites are essential to the contracts of Pledge and Mortgage:
(1) the pledge is constituted to secure the fulfillment of a principal obligation;
(2) the pledgor be the absolute owner of the thing pledged; and
(3) the person constituting the pledge has the free disposal of his property, and in the absence thereof,
that he be legally authorized for the purpose.
Third persons who are not parties to the principal obligation may secure the latter by pledging or
mortgaging their own property.
ART 1962. A deposit is constituted from the moment a person receives a thing belonging to another,
with obligation of safely keeping it and returning the same. If the safekeeping of the thing delivered is
not the principal purpose of the contract, there is no deposit but some other contract.
ART 1869. Agency may be express, or implied from the acts of the principal, from his silence or lack of
action, or his failure to repudiate the agency, knowing that another person is acting on his behalf
without authority.
ART 1911. Even when the agent has exceeded his authority, the principal is solidarily liable with the
agent if the former allowed the latter to act as though he had full powers.
He who is not the owner or proprietor of the property pledged or mortgaged to guarantee the
fulfillment of a principal obligation, cannot legally constitute such a guaranty as may validly bind the
property in favor of his creditor, and the pledgee or mortgagee in such a case acquires no right
whatsoever in the property pledged or mortgaged. (A.M. TOLENTINO V, CIVIL CODE OF THE
PHILIPPINES, p. 533.)