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!"#$! &$'($)$& *+,-./+,-01 "2234 &"3 5"6#6 !

"72("86


762$! 93 &":;$##$ "77$ 8<2($&&$= *<5>"2$>? @"3 +-A +,-01
CnA1Lk 14: ASSIGNMLN1

I. Def|n|t|on and Nature of Ass|gnment

A. Definition
AsslgnmenL ! Lhe sale of credlLs and oLher lncorporeal rlghLs
o AsslgnmenL ls Lhe process of Lransferrlng Lhe rlghL of
asslgnor Lo asslgnee who would Lhen have Lhe rlghL Lo
proceed agalnsL Lhe debLor. 1he asslgnmenL may be
done graLulLously or onerously, ln Lhe laLLer case, Lhe
asslgnmenL has an effecL slmllar Lo LhaL of a sale.
!"#$%&'( *+ ,%-.%#-%/0 123 4567 89: ;3<<=>+
=

ln lLs mosL general and comprehenslve sense, an asslgnmenL ls
a Lransfer or maklng over Lo anoLher of Lhe whole of any
properLy, real or personal, ln possesslon or ln acLlon, or of any
esLaLe or rlghL Lhereln. lL lncludes Lransfers of all klnds of
properLy, and ls pecullarly appllcable Lo lnLanglble personal
properLy and, accordlngly, lL ls ordlnarlly employed Lo descrlbe
Lhe Lransfer of non-negoLlable choses ln acLlon and of rlghLs ln
or connecLed wlLh properLy as dlsLlngulshed from Lhe parLlcular
lLem or properLy+? !@AB *+ 5'C&- 'D 7EEF%G(0 3H3 4567 3I=
;=IIH>+

8. Nature of Ass|gnment

1
"#$% &'()* +%,-. /. 01 234'4$) +%,-.5 200 SC8A 637 (1991), 6%7,389): /. +15
207 SC8A 333 (1992), ;,%<)$= 093(7),*5 >4$. /. +%9,= %? 1--)'(*, 338 SC8A 626
(2001).
1hough lnLanglble Lhlngs may be Lhe ob[ecL of sale as deflned ln
ArLlcle 1438, Lhe more proper Lerm ls asslgnmenL."
AsslgnmenL, more or less, ls Lhe same as sale - why Lhen do we
have a separaLe chapLer ln our Clvll Code?
o Lven Lhough Lhey're noL Lechnlcally Lhe same, Lhey
come from Lhe same genus ! sale"
WhaL's Lhe polnL? - CharacLerlsLlcs of Lhe genus sale" musL
necessarlly perLaln Lo asslgnmenL
o All [urlsprudenLlal docLrlnes perLalnlng Lo sale perLaln Lo
asslgnmenL, wlLh some modlflcaLlons.
AsslgnmenL shares characLerlsLlcs of sale
o nomlnaLe
o Consensual
o 8eclprocal
o Cnerous
" Powever, asslgnmenLs may be done
graLulLously or onerously. AJ$' *+ B7 K#/%/$F0
3<< 4567 21H ;=II=>
o CommuLaLlve
Some deflnlLlons of AsslgnmenL
o rlor Lo new Clvll Code, asslgnmenL was noL llmlLed Lo
Lhe genus of sale ! lL could be daLlon, or donaLlon, eLc.
o Powever, wlLh Lhe provlslons of Lhe nCC, Lhere should
be llLLle doubL ! asslgnmenL should only cover sales"
of credlLs.
o LxcepL ln case of donaLlon, Lhe LransacLlon of
asslgnmenL ls sLlll covered by Lhe law on sales.
!"#$! &$'($)$& *+,-./+,-01 "2234 &"3 5"6#6 !"72("86


762$! 93 &":;$##$ "77$ 8<2($&&$= *<5>"2$>? @"3 +-A +,-01
" AsslgnmenL by daLlon, asslgnmenL by barLer and
asslgnmenL of credlL as guaranLy (morLgage
conLracL) are covered by Lhe Law on Sales

C. What Makes Ass|gnment D|fferent?
@L#G#EE#/F A%-#'/%G B%/M *+ 5'C&- 'D 7EEF%G(0 3H3 4567 3I=
;=IIH> characLerlzed asslgnmenL as a Lransfer or maklng over Lo
anoLher of Lhe whole of any properLy, real or personal, ln
possesslon or ln acLlon, or of any esLaLe or rlghL Lhereln.
o lncludes Lransfers of all klnds of properLy, and ls
pecullarly appllcable Lo lnLanglble personal properLy.
o Crdlnarlly employed Lo descrlbe Lhe Lransfer of non-
negoLlable choses ln acLlon and rlghLs connecLed wlLh
properLy dlsLlngulshed from Lhe acLual lLem.
@L#G#EE#/F A%-#'/%G B%/M *+ 5'C&- 'D 7EEF%G(0 3H3 4567 3I=
;=IIH> lmplles LhaL asslgnmenL may also refer Lo Langlble
properLy.
o CLv: roperly speaklng, Lransfer of ownershlp and
possesslon of Langlble properLy ls a sale, noL an
asslgnmenL

II. erfect|on by Mere Consent (Art|c|e 1624)

Art|c|e 1624.
An ass|gnment of cred|tors and other |ncorporea| r|ghts sha|| be
perfected |n accordance w|th the prov|s|ons of Art|c|e 147S. (n)

Sa|e Ass|gnment
Sub[ecL maLLer ls Langlble properLy Sub[ecL maLLer ls lnLanglble
properLy
Consensual

AsslgnmenL does noL cover donaLlon lnvolvlng lnLanglbles
o uonaLlons are formal conLracLs
Any amblgulLy ln Lhe meanlng of an asslgnmenL shall be
resolved agalnsL Lhe parLy who prepared Lhe deed of
asslgnmenL.

III. 8ut Must 8e |n ub||c Instrument to Affect 1h|rd art|es (Art|c|e
162S)

Art|c|e 162S.
An ass|gnment of a cred|t, r|ght or act|on sha|| produce no effect as
aga|nst th|rd person, un|ess |t appears |n a pub||c |nstrument, or the
|nstrument |s recorded |n the keg|stry of roperty |n case the
ass|gnment |nvo|ves rea| property. (1S26)

8lndlng effecL as Lo Lhlrd persons noL presenL unless lL appears
ln a publlc documenL, or ln Lhe 8eglsLry of roperLy lf real rlghLs
are asslgned.
o 8ecause asslgnmenL deals wlLh lnLanglble properLy, Lhe
only evldence as Lo Lhe Lransfer ls Lhe publlc lnsLrumenL.
WlLhouL Lhe publlc lnsLrumenL, asslgnmenL ls sLlll valld.
o 8uL ln such case, lL ls enforceable only beLween asslgnor
and asslgnee, and Lhelr successors ln lnLeresL.
When asslgnmenL ls sLlll aL Lhe execuLory sLage (and noL
evldenced ln wrlLlng) lL ls covered by Lhe SLaLuLe of lrauds.
LxcepLlon: When asslgnmenL lnvolves documenL of LlLle
!"#$! &$'($)$& *+,-./+,-01 "2234 &"3 5"6#6 !"72("86


762$! 93 &":;$##$ "77$ 8<2($&&$= *<5>"2$>? @"3 +-A +,-01
o AsslgnmenL does noL blnd Lhe ballee unless speclflc
noLlce of Lhe Lransfer of Lhe coverlng documenL of LlLle
ls glven by Lransferor/Lransferee Lo Lhe ballee

IV. Lffects of Ass|gnment

A. Ass|gnment of Cred|t
An asslgnmenL of credlL ls an agreemenL by vlrLue of whlch Lhe
owner of a credlL, known as Lhe asslgnor, by a legal cause, such
as sale, 7'$3%4 )4 -'8%, exchange or donaLlon, and wlLhouL Lhe
consenL of Lhe debLor, Lransfers hls credlL and accessory rlghLs
Lo anoLher, known as Lhe asslgnee, who acqulres Lhe power Lo
enforce lL Lo Lhe same exLenL as Lhe asslgnor could enforce lL
agalnsL Lhe debLor+ !7NC#/-FJ *+ O#P'/Q0 8== 4567 9=9 ;3<<2>+
=

As a consequence, Lhe Lhlrd parLy sLeps lnLo Lhe shoes of Lhe
orlglnal credlLor as subrogee of Lhe laLLer. AlLhough consLlLuLlng
a novaLlon, such asslgnmenL does noL exLlngulsh Lhe obllgaLlon
under Lhe credlL asslgned, even when Lhe asslgnmenL ls effecLed
wlLhouL hls consenL. !4'C-L 5#-J R'.F(0 S/$+ T+ B7 K#/%/$F
5'&E+0 1H= 4567 2<1 ;3<<=>+
5 U5 5'..F&$#%G 5'&E+ *+ @L#G#EE#/F A%-#'/%G B%/M0 =H8 4567 =
;=I:I> held LhaL Lhe meeLlng of mlnds ln asslgnmenL
conLemplaLes LhaL beLween Lhe asslgnor and asslgnee. 1he
debLor's consenL ls noL necessary, and lL ls sufflclenL LhaL Lhe
asslgnmenL be broughL Lo Lhe debLor's knowledge ln order Lo be
blndlng.

1
@% /. AB& C$%D2%,EF%,G &#*=)E ;H3(.5 >4$.5 413 SC8A 182 (2003).
uebLor's consenL noL needed for asslgnmenL Lo produce legal
effecLs. ASV5 *+ VF G'( 7/QFGF(0 9< 4567 9:I ;=IH=>
o uuLy Lo pay asslgnee does noL depend on debLor's
consenL. CLherwlse, credlLors would have a hard Llme
asslgnlng credlL.
o urpose of noLlce: only Lo lnform debLor LhaL he should
pay someone else, noL Lhe orlglnal credlLor.
o 1hls change ls a novaLlon. Powever, llablllLy ls noL
exLlngulshed.
Lven Lhough knowledge/consenL of debLor ls noL requlred for
valldlLy of Lhe asslgnmenL, lack of such has legal effecLs.

8. Issues re Debtor (Art|c|e 1626)

Art|c|e 1626.
1he debtor who, before hav|ng know|edge of the ass|gnment, pays h|s
cred|tor sha|| be re|eased from the ob||gat|on. (1S27)

ln an asslgnmenL of credlL, Lhe consenL of Lhe debLor ls noL
essenLlal for lLs perfecLlon, hls knowledge Lhereof or lack of lL
affecLlng only Lhe efflcaclousness or lnefflcaclousness of any
paymenL he mlghL make. !@&'WF$- BC#GXF&(0 S/$+ *+ 5'C&- 'D
7EEF%G(0 18: 4567 232 ;3<<=>+
o When a credlL ls asslgned, lf Lhe debLor pays hls credlLor
because he dldn'L know of Lhe asslgnmenL, hls paymenL
shall release hlm from furLher obllgaLlons.
ConsenL of debLor ls noL necessary ln order LhaL asslgnmenL
may fully produce legal effecLs, and Lhe duLy Lo pay does noL
depend on Lhe consenL of Lhe debLor. CLherwlse, all credlLors
!"#$! &$'($)$& *+,-./+,-01 "2234 &"3 5"6#6 !"72("86


762$! 93 &":;$##$ "77$ 8<2($&&$= *<5>"2$>? @"3 +-A +,-01
would be prevenLed from asslgnlng Lhelr credlLs because of Lhe
posslblllLy of Lhe debLors' refusal Lo glven consenL. WhaL Lhe law
requlres ln an asslgnmenL of credlL ls mere noLlce Lo debLor, and
Lhe purpose of Lhe noLlce ls only Lo lnform Lhe debLor LhaL from
Lhe daLe of Lhe asslgnmenL, paymenL should be made Lo Lhe
asslgnee and noL Lo Lhe orlglnal credlLor. !ASV5 *+ VF G'(
7/QFGF(0 9< 4567 9:I ;=IH=>+
=

o 1hls change ls a novaLlon. Powever, llablllLy ls noL
exLlngulshed.
Lven Lhough knowledge/consenL of debLor ls noL requlred for
valldlLy of Lhe asslgnmenL, lack of such has legal effecLs.
o When a credlL ls asslgned, lf Lhe debLor pays hls credlLor
because he dldn'L know of Lhe asslgnmenL, hls paymenL
shall release hlm from furLher obllgaLlons.
o (ArLlcle 1283) AsslgnmenL of rlghLs made by credlLor Lo
a Lhlrd person wlLhouL knowledge of debLor.
" uebLor may seL up agalnsL Lhe asslgnee Lhe
compensaLlon perLalnlng Lo hlm agalnsL Lhe
asslgnor.
All credlLs prlor Lo Lhe asslgnmenL
All laLer ones unLll he had knowledge of
Lhe asslgnmenL.
" lf debLor consenLed Lo such asslgnmenL: he
cannoL seL up such compensaLlon unless debLor
reserved Lhe rlghL

1
&3*%4 I &3*%4 /. J'- K3$%5 37 hll. 387 (1918), + I + +%EE),$3'( +%,-. /. ;"0,
173 SC8A 1 (1989), ;,%<)$= 093(7),*5 >4$. /. +%9,= %? 1--)'(*, 338 SC8A 626
(2001), .1L934=)# /. K3M%48, 311 SC8A 414 (2006), @)7%43% /. +'-3=%(
N)/)(%-E)4= +%,-., 326 SC8A 379 (2007).
" lf he had knowledge, buL no consenL: he may
seL up compensaLlon of prevlous debLs, buL noL
subsequenL ones

C. Accessor|es and Access|ons (Art|c|e 1627)

Art|c|e 1627.
1he ass|gnment of a cred|t |nc|udes a|| the accessory r|ghts, such as a
guaranty, mortgage, p|edge or preference. (1S28)

AsslgnmenL of a credlL lncludes all Lhe accessory rlghLs, such as
guaranLy, morLgage, pledge or preference. !Y/#-FX @G%/-F&(
4CQ%& Z#GG#/Q 5'+0 S/$+ ;Y@4YZ5[> *+ 5'C&- 'D 7EEF%G(0 83H
4567 112 ;3<<H>+

D. 1rad|t|on |n Ass|gnment
noLarlzaLlon converLs a prlvaLe documenL AsslgnmenL of CredlL
lnLo a publlc documenL, Lhus complylng wlLh Lhe mandaLe of
ArLlcle 1623 of Lhe Clvll Code and maklng lL enforceable even as
agalnsL Lhlrd persons. !"FX'/#' *+ 5%E#-'G VF*+ 5'&E+0 832 4567
1HI ;3<<H>+
AsslgnmenL of credlL ls an acL of Lransferrlng Lhe rlghL of an
asslgnor Lo an asslgnee who could proceed agalnsL prlnclpal
debLor. @&'WF$- BC#GXF&( *+ 5'C&- 'D 7EEF%G(0 18: 4567 232
;3<<=>
o 1ransfer Lakes place on perfecLlon of conLracL

V. Warrant|es of Ass|gnor (Art|c|e 1628)

!"#$! &$'($)$& *+,-./+,-01 "2234 &"3 5"6#6 !"72("86


762$! 93 &":;$##$ "77$ 8<2($&&$= *<5>"2$>? @"3 +-A +,-01
A. Genera| o|nts

Art|c|e 1628.
1he vendor |n good fa|th sha|| be respons|b|e for the ex|stence and
|ega||ty of the cred|t at the t|me of the sa|e, un|ess |t shou|d have been
so|d as doubtfu|, but not for the so|vency of the debtor, un|ess |t has
been so express|y st|pu|ated or un|ess the |nso|vency was pr|or to the
sa|e and of common know|edge.

Lven |n these cases he sha|| on|y be ||ab|e for the pr|ce rece|ved and for
the expenses spec|f|ed |n No. 1 of Art|c|e 1616.

1he vendor |n bad fa|th sha|| a|ways be answerab|e for the payment of
a|| expenses, and for damages. (1S29)

WarranLy agalnsL hldden defecLs does noL apply Lo an lnLanglble
slnce lL has no physlcal exlsLence.
Asslgnor responslble for exlsLence and legallLy of credlL, aL Lhe
Llme of sale.
o unless lL was really sold as a doubLful accounL
Asslgnor does noL warranL Lhe solvency of Lhe debLor, unless:
1. 1here ls a sLlpulaLlon Lo LhaL effecL, or
2. lnsolvency of Lhe debLor was prlor Lo Lhe asslgnmenL
3. lnsolvency of Lhe debLor was of common knowledge.
AJ$' 4%GF( 5'&E+ *+ B7 K#/%/$F0 3<< 4567 21H ;=II=>

AJ$' 4%GF( 5'&E+ *+ B7 K#/%/$F

Iacts: n?CC Sales Corp exLended a credlL accommodaLlon Lo Lhe
lernandez 8roLhers. 1he broLhers, acLlng ln behalf of Sanshell Corp,
dlscounLed a 8l check for 60,000 wlLh n?CC, whlch Lhen lndorsed Lhe
sald check Lo 8A llnance accompanled by a ueed of AsslgnmenL. 8A
llnance, ln Lurn, released Lhe funds, whlch were used by Lhe broLhers.
1he 8l check was dlshonored. 1he broLhers lssued a subsLlLuLe check,
whlch was also dlshonored. now 8A llnance goes afLer n?CC, whlch
dlsclalms llablllLy.

Issue: WheLher or noL n?CC, as Lhe asslgnor, ls llable for breach of
warranLles

ne|d: ?LS. 1he asslgnor (n?CC) warranLs boLh Lhe exlsLence and legallLy
of Lhe credlL, as well as Lhe solvency of Lhe debLor. lf Lhere ls a breach of
any of Lhe 2 warranLles, Lhe asslgnor ls llable Lo Lhe asslgnee. 1haL belng
Lhe case, n?CC cannoL evade llablllLy. So long as Lhe credlL remalns
unpald, Lhe asslgnor remalns llable noLwlLhsLandlng fallure Lo glve
noLlce of dlshonor LhaL ls because Lhe llablllLy of n?CC sLems form Lhe
asslgnmenL, noL on Lhe checks alone.

Doctr|ne:

Lven when Lhere ls a warranLy as Lo Lhe debLor's solvency, lL
doesn'L lasL forever.
o 1 year from Lhe asslgnmenL, lf credlL was already due
o CLherwlse, 1 year from Lhe maLurlLy of Lhe credlL
lf asslgnor ln good falLh ls llable for a warranLy
o Cnly expenses of Lhe conLracL
o CLher leglLlmaLe paymenLs made by reason of
asslgnmenL.
!"#$! &$'($)$& *+,-./+,-01 "2234 &"3 5"6#6 !"72("86


762$! 93 &":;$##$ "77$ 8<2($&&$= *<5>"2$>? @"3 +-A +,-01
lf asslgnor was ln bad falLh, and he breached warranLles
o AddlLlonal llablllLy for necessary and useful expenses
When 7'$3%4 )4 -'8% Lakes Lhe form of an asslgnmenL of credlL,
lL produces Lhe effecLs of a daLlon ln paymenL, whlch may
exLlngulshes Lhe obllgaLlon, however, by vlrLue of Lhe warranLy
ln ArLlcle 1628, whlch makes Lhe vendor llable for Lhe exlsLence
and legallLy of Lhe credlL aL Lhe Llme of sale, when lL ls shown
LhaL Lhe asslgned credlL no longer exlsLed aL Lhe Llme of daLlon,
Lhen lL behooves Lhe asslgnor Lo make good lLs warranLy and
pay Lhe obllgaLlon. !"' *+ \]4 ^$'_K'&.`'&M 4J(-F. @L#G+0 S/$+0
9=1 4567 =:3 ;3<<1>+

8. Cther Spec|f|c Warrant|es (Art|c|e 1630-1633)

Art|c|e 1630.
Cne who se||s an |nher|tance w|thout enumerat|ng the th|ngs of wh|ch
|t |s composed, sha|| on|y be answerab|e for h|s character as an he|r.
(1S31)

Art|c|e 1631.
Cne who se||s for a |ump sum the who|e of certa|n r|ghts, rents, or
products, sha|| comp|y by answer|ng for the |eg|t|macy of the who|e |n
genera|, but he sha|| not be ob||ged to warrant each of the var|ous
parts of wh|ch |t may be composed, except |n the case of ev|ct|on from
the who|e or the part of greater va|ue. (1S32a)

Art|c|e 1632.
Shou|d the vendor have prof|ted by some of the fru|ts or rece|ved
anyth|ng from the |nher|tance so|d, he sha|| pay the vendee thereof, |f
the contrary has not been st|pu|ated. (1S33)

Art|c|e 1633.
1he vendee sha||, on h|s part, re|mburse the vendor for a|| that the
|atter may have pa|d for the debts of and charges on the estate and
sat|sfy the cred|ts he may have aga|nst the same, un|ess there |s an
agreement to the contrary. (1S34)

VI. k|ght of kepurchase on Ass|gnment of Cred|t under L|t|gat|on
(Art|c|es 1634 and 163S)

Art|c|e 1634.
When a cred|t or other |ncorporea| r|ght |n ||t|gat|on |s so|d, the debtor
sha|| have a r|ght to ext|ngu|sh |t by re|mburs|ng the ass|gnee for the
pr|ce the |atter pa|d therefor, the [ud|c|a| costs |ncurred by h|m, and
the |nterest on the pr|ce from the day on wh|ch the same was pa|d.

A cred|t or other |ncorporea| r|ght sha|| be cons|dered |n ||t|gat|on from
the t|me the comp|a|nt concern|ng the same |s answered.

1he debtor may exerc|se h|s r|ght w|th|n th|rty days from the date the
ass|gnee demands payment from h|m. (1S3S)

Art|c|e 163S.
Irom the prov|s|ons of the preced|ng art|c|e sha|| be excepted the
ass|gnments or sa|es made:

(1) 1o a co-he|r or co-owner of the r|ght ass|gned,

!"#$! &$'($)$& *+,-./+,-01 "2234 &"3 5"6#6 !"72("86


762$! 93 &":;$##$ "77$ 8<2($&&$= *<5>"2$>? @"3 +-A +,-01
(2) 1o a cred|tor |n payment of h|s cred|t,

(3) 1o the possessor of a tenement or p|ece of |and wh|ch |s sub[ect to
the r|ght |n ||t|gat|on ass|gned. (1S36)

8eason for Lhe rule on asslgnmenLs ln llLls pendencla
o Such asslgnemenLs are deemed speculaLlve.
o Law would raLher beneflL Lhe debLor, Lhan Lhe one who
merely speculaLes for proflL.
o lf asslgnor ls wllllng Lo dlspose of Lhe credlL aL a low
prlce, debLor should beneflL.
8lghL Lo redeem on debLor's parL shall noL exlsL when Lhe law
conslders Lhe asslgnmenL as noL for speculaLlon.
Lxample:
o AsslgnmenL of credlL Lo Lhe co-helr or co-owner of such
credlL/rlghL
o AsslgnmenL Lo a credlLor ln paymenL for hls own credlL,
o AsslgnmenL Lo Lhe possessor of a LenemenL/plece of
land whlch ls sub[ecL Lo Lhe rlghL ln llLlgaLlon LhaL was
asslgned
ln Lhe foregolng cases, asslgnee has a leglLlmaLe purpose for
Laklng Lhe asslgnmenL - noL merely speculaLlon.

VII. Subrogat|on *F&(C( Ass|gnment of Cred|t (Art|c|e 1301)

Art|c|e 1301.
Convent|ona| subrogat|on of a th|rd person requ|res the consent of the
or|g|na| part|es and of the th|rd person. (n)

Subrogat|on Ass|gnment
LxLlngulshes orlglnal obllgaLlon,
glves rlse Lo a new one
Same rlghL passed from one
person Lo anoLher
nulllLy of an old obllgaLlon may be
cured by subrogaLlon (new one ls
valld)
nulllLy of obllgaLlon noL remedled
Lhrough asslgnmenL
AgreemenL requlred beLween
orlglnal parLles and new credlLor
ConsenL of debLor noL requlred Lo
produce legal effecLs

SubrogaLlon exLlngulshes Lhe obllgaLlon and glves rlse Lo a new
one, asslgnmenL refers Lo Lhe same rlghL whlch passes from one
person Lo anoLher. 1he nulllLy of an old obllgaLlon may be cured
by subrogaLlon, such LhaL a new obllgaLlon wlll be perfecLly
valld, buL Lhe nulllLy of an obllgaLlon ls noL remedled by Lhe
asslgnmenL of Lhe credlLor's rlghL Lo anoLher. ln an asslgnmenL
of credlL, Lhe consenL of Lhe debLor ls noL necessary ln order
LhaL Lhe asslgnmenL may fully produce legal effecLs, whereas,
convenLlonal subrogaLlon requlres an agreemenL among Lhe
Lhree parLles concerned - orlglnal credlLor, debLor, and new
credlLor. lL ls a new conLracLual relaLlon based on Lhe muLual
agreemenL among all Lhe necessary parLles. "#$%&'( *+
,%-.%#-%/0 123 4567 89: ;3<<=>+
=


"#$%&'( *+ ,%-.%#-%/

Iacts: Abelardo Llcaros lnvesLed hls money worLh $130,000 wlLh Anglo-
Asean 8ank, a money markeL placemenL by way of deposlL, based ln Lhe

1
@)7%43% /. +'-3=%( N)/. +%,-., 326 SC8A 379 (2007).
!"#$! &$'($)$& *+,-./+,-01 "2234 &"3 5"6#6 !"72("86


762$! 93 &":;$##$ "77$ 8<2($&&$= *<5>"2$>? @"3 +-A +,-01
8epubllc of venaLu. unexpecLedly, he had a hard Llme geLLlng back hls
lnvesLmenLs as well as Lhe lnLeresL earned. Pe Lhen soughL Lhe counsel
of AnLonlo CaLmalLan, a repuLable banker and lnvesLor. 1hey enLered
lnLo an agreemenL, where a non-negoLlable promlssory noLe was Lo be
execuLed ln favor of Llcaros worLh $130,000, and LhaL CaLmalLan would
Lake over Lhe value of Lhe lnvesLmenL made by Llcaros wlLh Lhe Anglo-
Asean 8ank aL Lhe former's expense. When CaLmalLan conLacLed Lhe
forelgn bank, lL sald Lhey wlll look lnLo lL, buL lL dldn'L prospered.
8ecause of Lhe lnablllLy Lo collecL, CaLmalLan dld noL boLher Lo pay
Llcaros Lhe value of Lhe promlssory noLe. Llcaros, however, bellevlng
LhaL he had a rlghL Lo collecL from CaLmalLan regardless of Lhe ouLcome,
demanded paymenL, buL was lgnore. Llcaros flled a complalnL agalnsL
CaLmalLan for Lhe collecLlon of Lhe noLe. 1he Lrlal courL ruled ln favor of
Llcaros, buL CourL of Appeals reversed.

Issue: WheLher Lhe memorandum of agreemenL beLween peLlLloner and
respondenL ls one of asslgnmenL of credlL or one of convenLlonal
subrogaLlon

ne|d: CCnvLn1lCnAL Su88CCA1lCn. An asslgnmenL of credlL has been
deflned as Lhe process of Lransferrlng Lhe rlghL of Lhe asslgnor Lo Lhe
asslgnee who would Lhen have a rlghL Lo proceed agalnsL Lhe debLor.
ConsenL of Lhe debLor ls noL requlred ls noL necessary Lo producL lLs
legal effecLs, slnce noLlce of Lhe asslgnmenL would be enough. Cn Lhe
oLher hand, subrogaLlon of credlL has been deflned as Lhe Lransfer of all
Lhe rlghLs of Lhe credlLor Lo a Lhlrd person, who subsLlLuLes hlm ln all hls
rlghLs. lL requlres LhaL all Lhe relaLed parLles LhereLo, Lhe orlglnal
credlLor, Lhe new credlLor and Lhe debLor, enLer lnLo a new agreemenL,
requlrlng Lhe consenL of Lhe debLor of such Lransfer of rlghLs. ln Lhe case
aL hand, lL was clearly sLlpulaLed by Lhe parLles ln Lhe memorandum of
agreemenL LhaL Lhe express conformlLy of Lhe Lhlrd parLy (debLor) ls
needed. 1he memorandum conLalns a space for Lhe slgnaLure of Lhe
Anglo-Asean 8ank wrlLLen Lhereln "wlLh our conforme". WlLhouL such
slgnaLure, Lhere was no Lransfer of rlghLs. 1he usage of Lhe word
"AsslgnmenL" was used as a general Lerm, slnce CaLmalLan was noL a
lawyer, and Lherefore was noL well-versed wlLh Lhe language of Lhe law.

Doctrine:

VIII. Ass|gnment of Copyr|ght (Sect|on 180, Inte||ectua| roperty Code)

IN1LLLLC1UAL kCLk1 CCDL
Sect|on 180. k|ghts of Ass|gnee.
180.1. 1he copyr|ght may be ass|gned |n who|e or |n part. W|th|n the
scope of the ass|gnment, the ass|gnee |s ent|t|ed to a|| the r|ghts and
remed|es wh|ch the ass|gnor had w|th respect to the copyr|ght.

180.2. 1he copyr|ght |s not deemed ass|gned |nter v|vos |n who|e or |n
part un|ess there |s a wr|tten |nd|cat|on of such |ntent|on.

180.3. 1he subm|ss|on of a ||terary, photograph|c or art|st|c work to a
newspaper, magaz|ne or per|od|ca| for pub||cat|on sha|| const|tute on|y
a ||cense to make a s|ng|e pub||cat|on un|ess a greater r|ght |s express|y
granted. If two (2) or more persons [o|nt|y own a copyr|ght or any part
thereof, ne|ther of the owners sha|| be ent|t|ed to grant ||censes
w|thout the pr|or wr|tten consent of the other owner or owners. (Sec.
1S, .D. No. 49a)

!"#$! &$'($)$& *+,-./+,-01 "2234 &"3 5"6#6 !"72("86


762$! 93 &":;$##$ "77$ 8<2($&&$= *<5>"2$>? @"3 +-A +,-01
Cwner of copyrlghL may asslgn lL ln whole or ln parL
o Asslgnee enLlLled Lo all rlghLs and remedles whlch
asslgnor had wlLh respecL Lo copyrlghL
noL deemed asslgned lnLer vlvos unless Lhere ls wrlLLen
lndlcaLlon of such lnLenLlon
Submlsslon of a work Lo a newspaper or magazlne for
publlcaLlon shall consLlLuLe an asslgnmenL
o 8uL only for one publlcaLlon
o unless a greaLer rlghL ls granLed
1wo or more persons [olnLly own a copyrlghL
o ConsenL of oLher owners ls needed for an owner Lo
granL llcenses
CopyrlghL ls dlsLlncL from properLy sub[ecL Lo lL
o 1ransfer of copy rlghL ls noL Lransfer of maLerlal ob[ecL
o ln Lhe same way, Lransfer of Lhe work does noL lmply
asslgnmenL of Lhe copyrlghL.

Ik. Ass|gnment as an Lqu|tab|e Mortgage
When an asslgnor execuLes a ueed of AsslgnmenL coverlng her
leasehold rlghLs ln order Lo secure Lhe paymenL of promlssory
noLes coverlng Lhe loan she obLalned from Lhe bank, such
asslgnmenL ls equlvalenL Lo an equlLable morLgage, and Lhe
non-paymenL of Lhe loan cannoL auLhorlze Lhe asslgnee Lo
reglsLer Lhe asslgned leasehold rlghLs ln lLs name as lL would be
a vlolaLlon of ArLlcle 2088 agalnsL -'$=9E $%EE3**%,39E. 1he
proper remedy of Lhe asslgnee ls Lo proceed Lo foreclose on Lhe
leasehold rlghL asslgned as securlLy for Lhe loan. !VB@ *+ 5'C&-
'D 7EEF%G(0 3:9 4567 =9 ;=II:>+
o AsslgnmenL of lnLanglbles may be used Lo secure loans
o rlnclples perLalnlng Lo LqulLable MorLgage wlll apply.
" AsslgnmenL Lo secure paymenL of promlssory
noLes
" Such ls equlvalenL Lo an equlLable morLgage
" 1hus, nonpaymenL of loan cannoL auLhorlze
asslgnee Lo reglsLer Lhe asslgned rlghLs ln hls
name (lL would be LanLamounL Lo acLum
Commlssorlum)

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