Security Transactions: Pledge

A. General Concepts

Art. 2085, Art. 2087, Art. 2123

B. Form of Pledge

      Art. 2096

C.  Obligations Secured

D.  Object of Pledge

      Art. 2094, Art. 2095, Art. 416, Art. 417

E. Ownership of Collateral

      Art. 2103, Art. 2102, Art. 2101, Art. 1951, Art. 2108, Art. 2112, Art. 2097

Estate of Litton v. Mendoza & Court of Appeals, G.R. No. L-49120, June 30, 1988, 163 SCRA 246.

F.  Rights of Third Party Pledgor

     Art. 2120, Art. 2117, Art. 2066 to 2070, Art. 2079 to 2081

G.  Right to Possession

     Art. 2093, Art. 2110

     1.  Right of Retention

            Art. 2098, Art. 2109, Art. 2099, Art. 2100, Art. 2104, Art. 2106

     2.  Right to Payment

            Art. 2102, Art. 2118

Manila Banking Corporation
v. Teodoro, Jr. and Teodoro, G.R. No. 53955, January 13, 1989, 169 SCRA 95.

Citibank, N.A. & Investors Finance Corporation v. Sabeniano, G.R. No. 156132, October 12, 2006, 504 SCRA 378.

H. Return of Collateral

Art. 2105, Art. 2107, Art. 2108, Art. 2110, Art. 2111

I. Foreclosure of Pledge

Art. 2112, Art. 2119

1.  Who May Bid

Art. 2113, Art. 2114

      2.  Effect of Notarial Sale

            a.  Extinction of Principal Obligation

                        Art. 2115, Art. 2116

            b.  Right of Redemption

Paray & Espeleta v. Rodriguez, et al., G.R. No. 132287, January 24, 2006, 479 SCRA 571.

c.  Right to Surplus or Deficiency

Art. 2115

J. Legal Pledges

      Art. 2121

      1.  Examples of Legal Pledges

           Art. 1944, Art. 1951, Art. 1994, Art. 2004, Art. 546, Art. 1731

      2.  Foreclosure of Legal Pledge

           Art. 2122, Art. 2121