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Commodatum: Article 1933 Character of Loan
Commodatum: Article 1933 Character of Loan
PURPOSE Use
EXCEPTION:
Exception:
Stipulation
ARTICLE LIABILITY FOR Ordinary General Rule:
1941 EXPENSES Bailee Bailor bears
EXTRA- expenses
ORDINARY
Bailor Exception:
ORNAMENTAL (Bailee)
Bailee 1. Bad faith
FORTUITOUS 2. Delay
EVENT 3. Intention
4. Purely
General Rule: Bailor personal
bears expenses 5. Ingratitude
MUTUUM
ARTICLE 1933 CHARACTER OF LOAN Real Contract
PURPOSE Consumption
PLEDGE
ARTICL CHARACTERISTICS OF 1. Real contract
E 2085 PLEDGE 2. Unilateral Contract
3. Subsidiary
4. Indivisible
Exception:
Each one of several things
guarantees determinate
portion of credit
Only portion of loan was
released
CAUSE OR
CONSIDERATION Accessory contract
2 public 1 public
auctions auction
Excess to Excess to
creditor debtor
Due date Demand
of amount
ESSENTIAL REQUISITES 1. Secure the Principal
obligation
2. Absolute owner
3. Free disposal/ Authority
4. Mortgage may be alienated
5. Delivery is required
ARTICL KINDS OF OBLIGATIONS Pure obligation
E 2091 SECURED Conditional obligation
ARTICL SUBJECT MATTER Personal Property
E 2094 Movables
Incorporeal rights
(indorsement + delivery)
KINDS OF 1. Voluntary
MORTGAGE 2. Legal
3. Equitable
Kinds of foreclosure:
1. Judicial foreclosure
2. Extra-judicial foreclosure
(only if there is stipulation)
REMEDY OF REDEMPTION
MORTGAGOR Reacquires or buys back
the property
Kinds of redemption:
1. Equity of 2. Right of
Redemptio Redemptio
n n
Period: Period:
(Before sale) (After sale)
Judicial Judicial
- not less than 90 - before
days before sold confirmation
pf court/sale
Extra-
judicial
- 1 year from
date of
registration
CHATTEL MORTGAGE
ARTICL CHARACTERISTIC 1. Nominate
E 2140 S OF CHATTEL 2. Consensual
MORTGAGE 3. Indivisible
4. Formal
CAUSE OR
CONSIDERATION Accessory contract
CAUSE OR
CONSIDERATION Accessory contract