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  • Pledge

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    Vanessa Estabaya
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    1. Pledge, mortgage, and antichresis are accessory contracts that are constituted to secure the fulfillment of a principal obligation, whether that obligation is valid, voidable, unenforceable, or a natural obligation. 2. These contracts are indivisible even if the debt is divided among heirs of the debtor or creditor. Among the debtor's heirs, a debtor who pays cannot ask for a proportionate release or extinguishment of the contract as long as the full debt is not satisfied. Among the creditor's heirs, a paid heir cannot return the pledged property or cancel the mortgage to the detriment of unpaid heirs, unless the pledge or mortgage was divided to secure specific portions of the debt

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    1. Pledge, mortgage, and antichresis are accessory contracts that are constituted to secure the fulfillment of a principal obligation, whether that obligation is valid, voidable, unenforceable, or a natural obligation. 2. These contracts are indivisible even if the debt is divided among heirs of the debtor or creditor. Among the debtor's heirs, a debtor who pays cannot ask for a proportionate release or extinguishment of the contract as long as the full debt is not satisfied. Among the creditor's heirs, a paid heir cannot return the pledged property or cancel the mortgage to the detriment of unpaid heirs, unless the pledge or mortgage was divided to secure specific portions of the debt

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    © All Rights Reserved
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    3 views1 page

    Pledge

    Uploaded by

    Vanessa Estabaya
    1. Pledge, mortgage, and antichresis are accessory contracts that are constituted to secure the fulfillment of a principal obligation, whether that obligation is valid, voidable, unenforceable, or a natural obligation. 2. These contracts are indivisible even if the debt is divided among heirs of the debtor or creditor. Among the debtor's heirs, a debtor who pays cannot ask for a proportionate release or extinguishment of the contract as long as the full debt is not satisfied. Among the creditor's heirs, a paid heir cannot return the pledged property or cancel the mortgage to the detriment of unpaid heirs, unless the pledge or mortgage was divided to secure specific portions of the debt

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    Pledge, Mortgage and Antichresis

    1. Provisions Common to Pledge and Mortgage


    1.1. That they be constituted to secure the fulfillment of a principal obligation.
    The principal obligation must be a valid obligation, as a rule, because being
    accessory contracts, pledge and mortgage owe their existence upon the principal
    obligation. However, a pledge or mortgage may secure:
    a. All kinds of obligations, whether pure or subject to a suspensive or resolutory
    condition
    b. Voidable, unenforceable, or natural obligations
    c. A pledge or mortgage is indivisible even though the debt may be divided
    among the successors in interest of the debtor or of the creditor.
    d. Indivisibility among heirs of debtor
    a. Debtor who paid can’t ask for proportionate extinguishment as long
    as debt is not completely satisfied
    e. Indivisibility among heirs of creditors
    a. Paid heir cannot return the pledge or cancel mortgage to the prejudice of
    the unpaid heirs.
    b. Exception: pledge or mortgage is divisible if several things are given in
    pledge or mortgage and each one of them guarantees only a determinate
    portion of the credit.

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