Global E-commerce

Buy Online

     Lex Traditia




    Pacto Commissorio, ownership pass to creditor, default of debtor, prohibited.   The essence of pacto
    commissorio, which is prohibited by Article 2088 of the Civil Code, is that ownership of the security will
    pass to the creditor by the mere default of the debtor (Guerrero v. Yñigo, et al., 96 Phil. 37, 41-42; Puig
    v. Sellner, et al., 45 Phil. 286, 287-88) . . . . . . The only right of a mortgagee in case of non-payment of
    a debt secured by mortgage would be to foreclose the mortgage and have the encumbered property sold
    to satisfy the outstanding indebtedness. The mortgagor's default does not operate to vest in the mortgagee
    the ownership of the encumbered property, for any such effect is against public policy, as enunciated by
    the Civil Code. (BRIONES-VASQUEZ vs. COURT OF APPEALS et al., G.R. No. 144882,
    February 4, 2005)

    Enter here for complete text.




   Download Supreme Court of the Philippines Jurisprudence here.

   Download Philippine Laws, Issuances and Circulars  here.

BACK TO MAIN PAGE



  EO 52, PD 46, PD 1602, PD 1613, RA 7796, RA 7844, RA 7975, RA 8369, RA 8533, RA 8552, RA 8559, RA 8560, RA 8791, RA 9225, RA 9255,
  AO 01, s. 2002 (PHILCOA), RA 8048

     More downloads added weekly