Republic Act No. 11057, or the Personal Property Security Act, signed into law on August 17, 2018, repeals the Chattel Mortgage Law and related laws on movable property as collateral. The full text of this new law is available here: R.A. No. 11057
Please note therefore that Volume 2 of Credit Transactions: Notes and Cases is not recommended as a textbook or reference book until it has been supplemented to reflect the new law.
