Plede, Real Property Mortgage, Chattel Mortgage, Anti chresis Flashcards
Instances where the thing pledged may be sold or alienated in public auction FoPD
debtor fails to fulfil obligation
loses the right to make use of the period
default
An obligation which may not be guaranteed
void obligations
Natural obligation can be guaranteed
yes
The creditor cannot appropriate the things given by way of pledge or mortgage or dispose of them
pactum commissorium
Is a pledge or mortgage indivisible or not
indivisible even though the death may be divided among the successors in interest
debtor’s heir who has paid a part of the debt cannot ask for the proportionate extinguishment of the pledge or mortgage
the creditors air who received his share of the debt can return the mortgage or pledge
yes and no; indivisible, Regardless solitary or not
The rule of indivisibility is not applicable when
there being several things given in one cage or pledge and each one of them guarantees only a determination of the credit
A contract of pledge is perfected by
a contract to pledge is perfected by
delivery; consent
Instances for a third person pledgor be released from liability and may ask for the return of the thing pledged Aop Et Ac D
if the creditor voluntarily accepts on other property even if there after losses the same by eviction
extension of time granted to the debtor
through the acts of the creditor, the pledgor can not be subrogated
thing pledged deteriorates through the fault of the pledgee
How will the fruits of the thing pledged appropriated
the creditor shall compensate what he receives with those which are owing him or to the principal if none is owing to him
In case of a pledge of animals, their offspring shall pertain to the _________
pledgor or owner but shall be subject to the pledge if there is no stipulation to the contrary
The pledge is extinguished if the pledgee uses or misuses the thing
no, it only authorizes the deposit of the template with a third person. This also applies if through negligence or willful act of the pledgee, the thing pledged is in danger of being lost or impaired
What will happen if there is a fear of destruction, loss or impairment without pledgee’s fault
returned but replaced of the same kind and not inferior quality or
sold at public auction
Right of a person to retain eating until he receives payment
legal pledge
Distinction of legal versus conventional pledge
in conventional pledge, deficiency can never be recovered by the pledgee however is entitled to the excess
Stipulation that when a thing pledged is returned, the pledge is not extinguished is
void
The renunciation or abandonment of pledge should be in what form
in writing
Is the acceptance of the renunciation or abandonment of pledge necessary
no, the blood she becomes a depositary
What is the remedy of the pledgee if he has not been satisfied in due time
foreclosure sale
Can still be held in a foreclosure sale so that the creditor or make appropriate the thing pledged
two
Can the pledgor or owner did in a foreclosure sale
yes, and he shall also help preference should offer the same terms as the highest bidder
If a credit which has been pledged becomes do before it is redeemed, the pledgee may collect and receive the amount due and his son of lie the same to the payment of his claim and deliver the surplus to the pledgor
yes
If there are two or more things pledged, he made them and the sale of all things pledged
no, only insofar necessary for the payment of the debt
How is a real estate mortgage perfected
by mere consent but must be in a public instrument and be recorded in the registry of property for convenience
Is tipo or upset price valid
no
A foreclosure where the estate does not contain a special power of attorney authorizing the extrajudicial foreclosure
judicial foreclosure
Prescription period of payment to exercise equity of redemption which is the right to prevent the foreclosure
90 to 120
There shall be a right of redemption in judicial foreclosure only when
special law allows
The equity of redemption for extrajudicial foreclosure shall be
the grace period given by the mortgagee
The period of right of redemption in a extrajudicial foreclosure shall be
generally 12 months except 90 days for bank and judicial persons
How is a chattel mortgage perfected
form; affidavit of good faith
the registration to the chattel mortgage registry where the mortgagor resorts and where the property is located shall only be for enforceability
It is states that the parties so where the mortgage is made for the purpose of securing obligations specified in the conditions thereof and for other purposes and that the same is a just and valid obligation and not one entered into for purposes of fraud
affidavit of good faith
The coverage of a chattel mortgage shall only be the deaths existing at the time the contract was entered into and indicated in the affidavit of good faith
yes, an amendment of the affidavit shall be necessary to cover subsequent obligations
Foreclosure of chattel mortgage shall be done judicially
no, extrajudicial
Equity of redemption in case of foreclosure of a chattel mortgage shall be
30 days from the date of default
Notice of foreclosure of chattel mortgage shall be _____ prior to sale posting in two or more public places
10 days
Who is entitled to the excess proceeds of a foreclosure sale
the mortgagor; hence the creditor is entitled to the deficiency accept when the object is subject of a saline installment and covered by the recto law which prohibits collection of unpaid amount once the creditor already foreclose the chattel mortgage on the properties itself
Is there a right of redemption in a foreclosure of chattel mortgage
none
It is a stipulation where the mortgage or pledge covers future obligations
dragnet clause
What is the object of antichresis
immovable property
An antichresis is perfected by
formal agreement
Credit Transactions must be in a public instrument for
enforceability
A credit transaction for a sale of the property is prohibited and can make the seller criminally liable
chattel mortgage
A foreclosure of a real property mortgaged requires a notice ______ prior to the sale
20 days
A credit transaction where the right of redemption is available
real property mortgage
What is the remedy in case of default under antichresis
application of the usufruct to the obligation
The basis for application of the fruits to the interest and principal in case of antichresis
actual market value of the fruit at the time of application
Who shall be liable to pay the real property taxes and expenses in the repair or preservation of the property in the absence of stipulation in case of antichresis
the creditor; since he uses the property
The object of the antichresis can be attached or foreclosed
yes
