other contracts

• BARTER 


  a contract where one of the parties binds himself to give one thing in consideration of the other's promise to give another thing.
• Characteristic of a barter

  consensual contract
• Juan lends his friend Pedro ₱50,000 with an agreement that Pedro will repay the amount after one year with an interest of 5%.

  what type of credit transaction is this?

  Mutuum
• Maria deposits her jewelry in a bank vault for safekeeping. The bank is responsible for the protection and return of the jewelry.

  Which type of credit transaction does this represent?

  Deposit
• Commodatum

  Gratuitous loan of an item for use and return
• Mutuum


  Loan of consumable goods where the borrower must return the same amount and type of goods
• Pledge


  Creditor acquires possession and right to use the debtor's property until the loan is repaid
• Chattel mortgage


  Loan secured by personal property as collateral
• Deposit


  Entrusting goods to another for safekeeping
• Sale on credit


  Transfer of goods for a price, paid immediately or in installments
• Sale on approval


  Goods can be returned within a specified period if not satisfied
• Barter


  Direct exchange of goods for other goods
• Antichresis


  Creditor acquires possession and right to use the debtor's property until the loan is repaid
• Real estate mortgage


  Loan secured by real property as collateral
• Commodatum involves non-consumable goods; mutuum involves consumable goods
• Chattel mortgage involves personal property as collateral and requires registration
• In a pledge, the pledgee retains possession of the pledged item
• Antichresis involves the creditor acquiring possession and the right to use the debtor's property
• The Bulk Sales Law governs the bulk sales of goods in the Philippines
• Commodatum is characterized by the gratuitous loan of an item for use and return
• Sale involves the transfer of ownership of goods for a price, paid immediately or in installments
• Mutuum requires the creditor to return the exact same thing loaned
• Chattel mortgage in the Philippines must be registered with the Register of Deeds
• A retail store allows a customer to purchase goods and pay for them at a later date.

  Sale on credit
• A real estate developer takes out a loan and secures it with a property title.

  Real estate mortgage
• Bulk Sales 


  the sale, transfer, mortgage or assignment of goods, merchandise, materials, other than the regular cause of business or trade
• Transactions covered in Bulk Sales

  • ordinary sale of business
  • extra ordinary sales of equipment
  • extra ordinary sales of good
• Credit transactions (bailments)


  transactions involving the purchase of loan of goods, services or money in the present with a promise to pay or deliver in the future.
• Bailor 


  the giver, the party who delivers the possession or custody of the thing bailed.
• Bailee 


  the recipient; the party who receives the possession or custody of the thing that's delivered.
• Kinds of bailment contract for the sole benefit of the bailor.

  1. gratuitous deposit
  2. mandatum
• kinds of bailment contract for the sole benefit of the bailee.

  1. commodatum
  2. gratuitous mutuum
• kinds of bailment contract for the benefit of both parties

  1. deposit for the compensation
  2. pledge
  3. bailments for hire
• Loan


  one of the parties delivers to another, either something not consumable so that the latter may use the same for a certain time and return it; or money or other consumable thing, upon the condition that the same amount of the same kind and quality shall be paid
• Precarium 


  one whereby the bailor may demand the thing loaned at will
• True


  An accepted promise to deliver something by the way of commodatum or simple loan or simple loan is binding upon parties, but shall not be perfected until delivery.
• True


  Consumable goods may be the subject of commodatum, if merely for exhibition.
• True


  bailee in commodatum acquires the used of the thing loaned, but not its fruits.
• True


  Death of either party in a commodatum extinguishes the contract.
• True


  Loss is suffered by the bailor in commodatum