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TRANSACTIONS
Fourth Year
First Session
TOPICS INCLUDED
1. SPECIAL CONTRACTS (CIVIL
CODE)
Loan
Deposit
Guaranty
and Suretyship
Pledge
Chattel
Mortgage
Real Mortgage
Antichresis
Preference and concurrence of credits
TOPICS
2. SPECIAL LAWS
Financial Rehabilitation and
Insolvency Law
Chattel Mortgage Law
Extrajudicial Foreclosure of Real
Mortgage
CREDIT
TRANSACTIONS
IN GENERAL
Concept
2.
3.
or
OBLIGOR
Present receipt,
temporary increase
in his estate
OBLIGEE
Present payment or
delivery, temporary
decrease in his estate
Future receipt,
restores or increases
his estate
Characteristics of Credit
Transactions
Types of Contracts in CT
PARTIES
LOAN
(Articles 1933-1961)
Definition
COMMON
CHARACTERISTICS
LEGAL CONSEQUENCES
Consideration
CONSEQUENCE
As to
object
Involves
something not
consumable
(exception is Art.
1936)
Involves money
or other
consumable
thing (Art.1933)
As to kind
of object
Involves
personal
property only.
As to
transfer of
COMMODATU
M
MUTUUM
As to risk
of loss
The
lender
bears the risk
of loss because
he
retains
ownership
of
the
thing
loaned
(Arts.
1942 & 1174)
The borrower
bears the risk
of loss because
ownership over
the thing
loaned passes
to him
As to
obligation
to return
The borrower
must return the
same thing
loaned.
The borrower
need only pay
the same
amount of the
same kind and
As to the
ability to
demand
return
COMMODATU
M
MUTUUM
Essentially
As to
considerati gratuitous
on
As to
nature
Purely personal
May be
gratuitous or with
a stipulation to
pay interest
Not purely
personal
FACTS: Sometime in 1979, Vives was asked by his neighbor and friend
Sanchez to help her friend and townmate, Doronilla, in incorporating his
business, Sterela Marketing and Services. Sanchez asked Vives to deposit
in a bank a certain amount of money in the bank account of Sterela for
purposes of its incorporation. She assured private respondent that he
could withdraw his money from said account within a months time.
Relying on the assurances and representations of Sanchez and Doronilla,
Franklin Vives issued a check in the amount of P200,000.00 in favor of
Sterela. When Vives went to the bank to verify if the money was still
intact, the bank informed them that part of the money had been
withdrawn by Doronilla, and that only P90,000.00 remained therein. On
June 29, 1979, Vives received a letter from Doronilla, assuring him that
his money was intact and would be returned to him. On August 13, 1979,
Doronilla issued a postdated check for Two Hundred Twelve Thousand
Pesos (P212,000.00) in favor of Vives. However, upon presentment
thereof, the check was dishonored.
COMMODATUM
PROHIBITIONS AS TO
USE
This
provision
makes
commodatum
dissimilar to mutuum but similar to lease.
OBLIGATIONS OF THE
BAILEE
1.
2.
3.
4.
5.
OBLIGATIONS OF THE
BAILOR
2.
3.
OBLIGATION TO RESPECT
PERIOD
RIGHT TO REQUIRE
RETURN
1.
2.
3.
4.
COMMODATUM versus
DONATION
As to
considerati
on
As to effect
of
ingratitude
As to
nature
COMMODATU
DONATION
M
Both contracts are gratuitous.
An act of
liberality, a
contract, and a
mode of
COMMODATU
M
DONATION
As to
obligations
As to
perfection
As to type
of contract
It is a real
contract (Art.
1934).
It is a formal
contract (Art.
734).
As
to
effect of
presence
of
valuable
considera
tion
COMMODATU
M
In
commodatum,
the presence of
valuable
consideration
transforms the
contract into
some other
contract such
as lease. (Art.
1935)
DONATION
In donation, the
presence of
valuable
consideration
makes the
donation
onerous but it is
still a donation.
However, it will
now be governed
by the law of
contracts
(Article 733).
SUMMARY
Bar 2005
Bar 2005
(a)
(b)
(c)
ANSWER
(a) Brakes (extraordinary) A
Tuneup (ordinary) B
(b) Fuel (ordinary) B
(c) A cannot demand return before
the period unless he has urgent
need of the van.
SIMPLE LOAN OR
MUTUUM
Art. 1953. A person who receives a loan of
EXAMPLES
INTEREST
GENERAL
EXCEPTIONS
Example
Example
Bar 2002
Carlo
The
Answer
INTEREST
be
Bar 2001
Answer
INTEREST
KINDS OF INTEREST
SIMPLE
principal
fixed or
parties
paid for
at a certain
stipulated by
the
rate
the
KINDS OF INTEREST
DEPOSIT
Article
1962.
A
deposit
is
constituted from the moment a
person receives a thing belonging
to another, with the obligation of
safely keeping it and returning the
same.
If the safekeeping of the thing is
not the principal purpose of the
contract, there is NO deposit but
some other contract.
CHARACTERISTICS OF DEPOSIT:
It is a nominate contract;
It is a real contract;
It is a principal contract;
It can be gratuitous and, when gratuitous, it is a
unilateral contract; and
It can be for compensation and, when for
compensation, it is a bilateral contract.
Deposit is a real
contract
Article
1963.
An
agreement to constitute
a deposit is binding but
the
deposit
is
NOT
perfected
until
the
delivery of the thing
Subject Matter
As
Judicial
JUDICIAL DEPOSIT
Also
known as sequestration
Primary
purpose: to maintain
status
quo
during
the
pendency of litigation or to
insure the rights of parties to
property.
Judicial
Deposit/Sequestration
Rule
57
(Preliminary
attachment by sheriff
complaint.
attachment)
upon filing
of
NECESSARY DEPOSIT
OTHER INSTANCES
On the occasion of a
calamity
Liable
for
loss
or
injury
through:
Acts
of
servants
or
employees of the keeper
Acts of strangers
Acts
of
robbers
UNATTENDED by use of
arms or irresistible force
VOLUNTARY DEPOSIT
CONCEPT
DIFFERENCE
NECESSARY
WITH
DEPOSIT:
The
Obligations of the
Depositary
relative
to
preservation;
Obligations
relative
to
information or notice; and
Obligations relative to delivery
and return.
AS TO PRESERVATION
The
depositary
holding
certificates,
bonds,
securities or instruments which earn interest shall
be bound to collect the latter when it becomes due
(Art. 1975).
AS TO INFORMATION
AS TO RETURN
LIABILITIES
The depositary is liable for acts of third
persons in the following cases:
If it is so stipulated;
If he uses the thing without the depositor's permission;
If he delays its return;
If he allows others to use it, even though he himself
may have been authorized to use the same.
RIGHTS OF THE
DEPOSITARY
OBLIGATIONS OF THE
DEPOSITOR
Extinguishment of Voluntary
Deposit
Art. 1995. A deposit its extinguished:
(1) Upon the loss or destruction of the
thing deposited;
(2) In case of a gratuitous deposit, upon
the death of either the depositor or the
depositary.
NOTE:
Other
causes
(novation,
merger, expiration of the term,
fulfillment of resolutory condition)
Bar 2007
ANSWER: C
May be gratuitous
or onerous
Held in behalf of
depositor