July 8, 2020

To: 2B
Credit Transactions

Although the take home - nearly one (1) month to answer test – was
expected to have been perfected by all, the following group performed
satisfactorily more than the others:

1. Bayongan, A. -95%
Wangdali, L.
Florendo, H.

2. Kapawen, S. -95%
Balaba, J.
Taya-an, E.

Since no one asked any questions, below are the general comments on
all the answers submitted by the class. These are not in the same order as the
questions. Just find where it is applicable:

1. While it is settled that Article 2079 is applicable both to surety and

guaranty, it does not mean that the surety or guarantor is
automatically released when the creditor granted extensions of
payment in favor of the principal debtor.

In other words, Article 2079 is inoperative when separate

contracts are executed between the principal debtor and the creditor
and the principal debtor and the guarantor or surety. This is when you
apply the principle or relativity of contracts. Read CCC Insurance vs.
Kawasaki, G.R. No. 156162, June 22, 2015 and read again Trade and
Investment Development Corporation vs. Asia Paces Corporation (GR
187403 February 12, 2014.

2. Please lang naman, when the topic is about loans and interests, do not
ever insert negotiability as an issue. Please have mercy.

3. In all instances where the question is about interest, do not hesitate to

apply the case of Lara. Do not be afraid. This was taught to you. This
was emphasized as an update. No, it was actually over emphasized in
class since it modified the Eastern Shipping Lines case and Nacar case.
It was a gift.

As clear as crystal is the instruction that your answers should be

based on recent jurisprudence otherwise it would have been merely
fingertips work searching for suggested answers to the bar in the
internet.

Page 1 of 4 Final Note, Credit Transactions – 2B

 It is sad that only half of the class used it as a reference.

When it comes to awards of damages which were proved by

evidence (such as claims of actual damages from vehicular accidents),
the legal interest will only begin to run from finality of the judgment
award not on the date of the filing of the case or the issuance of the
decision but only when the decision becomes final.

4. Since there are many kinds of deposit, it is more accurate if you

mentioned necessary deposit as that when a hotel accepts the vehicle
of its guest.

5. Yes, the court may fix the period when the obligation failed to provide
any date or condition. But when the amount is only P10,000.00,
directly petitioning the court is more costly. Although this is
academically accepted, it is always practical to send a demand first
whether by the creditor or his lawyer.

Another practical option is file the case in the barangay if

applicable. Either way, the case will fall under small claims. Both
remedies are anti-lawyer though.

6. When a debtor was never placed in default, he may claim erroneous

payment of interest.

7. Again, there is no right of redemption in pledge and chattel mortgage.

As to purchases, subjecting to mortgage that same personal

property bought, there is this new law RA 11057 known as Personal
Property Security Act. Read it.

Now, below are the jokes from the class. Enjoy. ^^

Question: What do you call the conditional sale of cows, carabaos,

horses and the like as security for the payment of a debt.

Answer: Cattle Moooo-rtgage

Alam mo ‘yong tawag sa sakit na pangkalahating araw lang?

Hapdi.
Isang araw, sumakay sa jeep ang isang lola at isang law student.
Habang naghihintay ng ibang pasahero, napansin ni lola na
nakapokus ang estudyante sa pagbabasa habang nangungulangot ito.

Napatanong si lola,

Lola: iho, ano ang kinukuha mo?

Page 2 of 4 Final Note, Credit Transactions – 2B
 Law student: eheeeeem, ehem, abogasya po, lola.

Lola: aaaaaahy, akala ko kulangot.

There were three people namely Somebody, Nobody and Crazy.
They had an argument. Somebody shot Nobody.
The police came.
Police: What happened?
Crazy: Somebody killed Nobody.
Police: Are you crazy?
Crazy: Yes, I am Crazy.
In Baguio, we have all kinds of jams. Now, we have traffic jam.
In a relationship, there are four types of rings:

First is the promise ring, second is the engagement ring, third is the
wedding ring and lastly, something that the bride and groom are not
expecting…

Suffering.

Us: Sir mahilig ka ba mag-

party?
Sir: Hindi eh, ikaw ba
mahilig?
Us: Isang party lang
gustong-gusto namin eh, yung

Maging PARTY ng list ng

Bar Passers or Topnotchers
Classmate 1: Guys mag aral daw tayo, mula sa diniscuss ni sir last week
hanggang kahapon.

Classmate 2: Bakit?

Classmate 1: Kasi Macwes. (I forgive you^^)

Page 3 of 4 Final Note, Credit Transactions – 2B

 1.
Anong part ng katawan ang makakabili ng Cornetto?

(reply ka muna sir. ^^)

Sir: Ano?

We’re all in quarantine right now. So we can’t come up with funny jokes. We
can only give inside jokes.

We would like to thank you Sir for the lessons, and updated cases. Like what
you have said in class, we are now more updated than the book authors.

(My pleasure.)

Kapag ba binawasan ko nang isa yung shampoo magiging sham na?

Student: ma'am ay bumukol nan otot isnan pantalon?

Teacher: differently not!!,,, class! remember this, Ulay sinoy
kapigpigsan di otot yo, adi pulos bumukol sa isnan Pantalon
yo.
Student: sus pay na, takki talaga na.
(Translate for the benefit of the others. ^^)

Which joke is the best?

Your grades were computed as follows:

Quiz and Class Recitation/Attendance – 50%

Take Home Test - 50%
Total =100%

Keep moving, keep reading.

Atty. Meshack C. Macwes

Page 4 of 4 Final Note, Credit Transactions – 2B