2022 REVISED COURSE GUIDE (SYLLABUS) ON CREDIT TRANSACTIONS – PUP COLLEGE OF LAW, 1ST SEMESTER, AY 2022-23

2022 REVISED COURSE GUIDE (SYLLABUS) ON CREDIT TRANSACTIONS – PUP COLLEGE OF LAW, 1ST SEMESTER, AY 2022-23

I.     BRIEF OVERVIEW

1. THE DEVELOPMENT OF CREDIT
2. Republic v. PNB, GR L-16106, Dec. 30, 1961, 3 SCRA 851
3. THE CONCEPTS OF CREDIT AND DEBT AND THEIR DISTINCTIONS
4. Lirag Textile Mills, Inc. v. SSS, GR L-33205, Aug. 31, 1987, 153 SCRA 338
5. CREDIT TRANSACTION; DEFINITION
6. CREDIT TRANSACTION: A CONTRACT OF SECURITY
7. MAJOR TYPES OF CREDIT TRANSACTION
8. SPECIFIC KINDS OF CREDIT TRANSACTION

II.       LAWS ON CREDIT TRANSACTION

• Subjects of credit transaction
• BAILMENT CONTRACTS

A.1.     Bailment; definition

A.2.     Bailment; how created

A.3.     Parties to a bailment

A.4.     Types of bailments as to beneficiary

A.5.     Deposit for compensation

A.6.     Involuntary or necessary deposit

A.7.     Bailment for hire

• LOAN

B.1.     Loan; definition

B.2.     Loan in relation to credit; concession of credit

• People v. Concepcion, GR 19190. Nov. 29, 1922, 44 Phil. 126

B.3.     Loan and discount; distinctions

B.4.     Legal provisions governing loans

B.5.     Characteristics of loans

B.6.     Fundamental aspects of loans

B.7.     Kinds of loan

• De Los Santos v. Jarra, GR 4150, Feb. 10, 1910, 15 Phil. 147
• Santiago v. Sps. Garcia, GR 228356, Mar. 9, 2020

B.8.     Commodatum; definition

B.9.     Nature of commodatum

B.10.   Commodatum and Precarium; distinctions

B.11.   Subject of commodatum

B.12.   Object of commodatum

B.13.   Bailor need not be the owner of the thing loaned

B.14.   Personal character of commodatum

B.15.   Bailee’s right to use limited to thing loaned

B.16.   Use of fruits or produce of thing loaned

B.17.   Obligations of the bailee

B.18.   Obligations of the bailor

B.19.   Liability of bailor to pay damages for known hidden flaws; bailee’s right of retention

B.20.   Mutuum or Simple loan; definition

B.21.   Characteristics of mutuum

B.22.   Fungible things

B.23.   Fungible things and nonfungible things; barter construed

B.24.   Fungible and consumable things

B.25.   Mutuum and commodatum; distinctions

B.26.   Mutuum and Lease; distinctions

B.27.   Barter; definition

B.28.   Mutuum, commodatum, and barter; distinctions

B.29.   Causes in mutuum

B.30.   Objects of mutuum

B.31.   Perfection of contract of mutuum

B.32.   Rules on payment of loan

B.33.   Payment of loan in kind

B.34.   Failure to pay loan

• US v. Ibañez, GR 6421. Aug. 14, 1911, 19 Phil. 559
• Yam v. Malik, GR L-50550-52 Oct. 31, 1979, 94 SCRA 30

B.35.   Simple loan provisions govern bank deposits

• Guingona, Jr. v. City Fiscal of Manila, GR L-60033. Apr. 04, 1984, 128 SCRA 577

B.36.   Relationship between depositor and bank

• Gullas v. National Bank, GR 43191. Nov. 13, 1935, 62 Phil. 519
• Central Bank of the Phils. v. Citytrust Banking Corp., GR 141835. Feb. 4, 2009, 578 SCRA 27
• Solidbank Corp. v. Tan, GR 167346. Apr. 2, 2007, 520 SCRA 123
• The Overseas Bank of Manila v. CA, GR L-49353. June 11, 1981, 105 SCRA 49
• Integrated Realty Corp. v. PNB, GR 60705, GR 60907. June 28, 1989, 174 SCRA 295

B.37.   Distinctions between irregular deposit and loan

• Javellana v. Barilea, GR L-4347. Jan. 31, 1953, 92 Phil., 600

B.37.   Extinguishment of loan by mutual desistance

B.38.   Relationship between credit card provider and its card holders

• Saura Import & Export Co., Inc. v. Development Bank of the Phil., GR L-24968. Apr. 27, 1972, 44 SCRA 445
• Pantaleon v. American Express International, Inc., GR 174269. May 8, 2009, 587 SCRA 551

B.39.   Contracts in credit card transaction

• Pantaleon v. American Express International, Inc., GR 174269. Aug. 25, 2010, 629 SCRA 276

B.40.   When parties enter into binding loan contract

B.41.   Requisites of default; when credit card company not deemed in default

        B.42.   Loan contract a real contract

• BPI Investment Corp. v. CA, GR 133632. Feb. 15, 2002, 377 SCRA 117
•     INTEREST

C.1.     Legal provisions and rules governing interest

C.2.     Interest; definition

C.3.     Rule on payment of interest

• Gonzales-Saldana v. Niamatali, GR 226587. Nov. 21, 2018, 886 SCRA 479.

C.4.     Right to recover interest

• Barretto v. Santa Marina and “La Insular”, GR L-11908. Feb. 04, 1918, 37 Phil. 568

C.5.     Recovery of interest; requisites

• Tan v. Valdehueza, GR L-38745. Aug. 6, 1975, 66 SCRA 61

C.6.     Return or retention of unstipulated interest paid

C.7.     Unconscionable interest rates

• Louh, Jr. v. Bank of the Phil. Islands, GR 225562. Mar. 8, 2017, 820 SCRA 103
• MCMP Construction Corp. v. Monark Equipment Corp., GR 201001. Nov. 10, 2014, 739 SCRA 432

C.8.     Kinds of interest

• Philrock, Inc. v. Construction Industry Arbitration Commission, GR 132848-49. June 26, 2001, 359 SCRA 632

C.9.     Monetary interest not inclusive of penalty

C.10.   Compensatory interest; basis of interest rate

C.11.   Classes of interest

C.12.   Interest allowed on the penalty; when recoverable

• Cabarroguis v. Vicente, GR L-14304. Mar. 23, 1960, 107 Phil. 340

C.13.   New guidelines on computation of interest

• Eastern Shipping Lines v. Court of Appeals, GR 97412. July 12, 1994, 234 SCRA 78
• Odiamar v. Valencia, GR 213582. Sep. 12, 2018, 880 SCRA 167

C.14.   Forbearance of money or credit

• Estores v. Sps. Supangan, GR 175139, Apr. 18, 2012, 670 SCRA 95
• Crismina Garments, Inc. v. CA, GR 128721. Mar. 9, 1999, 304 SCRA 356

C.15.   Stipulation to pay interest; rules

• Casa Filipina Dev’t. Corp. v. Deputy Executive Secretary, GR 96494. May 28, 1992, 209 SCRA 399
• Security Bank and Trust Company v. RTC of Makati, Br. 61, GR 113926. Oct. 23, 1996, 263 SCRA 483;
• Toring v. Ganzon-Olan, GR 168782. Oct. 10, 2008, 568 SCRA 376
• Soncuya v. Azarraga., GR 43579. June 14, 1938, 65 Phil. 635
• Bonnevie v. CA, GR L-49101. Oct. 24, 1983, 125 SCRA 122

C.16.   No stipulation to pay interest  

• Indemnity for damages
• Lim v. CA, GR 125817. Jan. 16, 2002, 373 SCRA 394
• Interest accruing from unpaid interest
• David v. CA, GR 115821. Oct. 13, 1999, 316 SCRA 710

C.17.   Penalty clause

• Tan v. CA, GR 116285. Oct. 19, 2001, 367 SCRA 571
• GSIS v. CA, GR L-52478. Oct. 30, 1986, 145 SCRA 311
• Equitable Banking Corp. v. Liwanag, GR L-28335. Mar. 30, 1970, 32 SCRA 293

C.18.   Accrued interest

• Mambulao Lumber Co. v. PNB, GR L-22973. Jan. 30, 1968, 22 SCRA 359

C.19.   Compounding of interest

•     USURY

D.1.     Usury; definittion

• Tolentino v. Gonzales Sy Chiam, GR L26085, Aug. 12, 1927, 50 Phil. 558

D.2.     Elements of usury

• Herrera v. Petrophil Corp, GR L-48349, Dec. 29, 1986, 146 SCRA 385

D.3.     Law on usury

D.4.     Usurious contracts and stipulations; usurer; definition

• Quisumbing v. Lopez, GR L-6465, Jan. 31, 1955, 96 Phil. 510
• Dis. Op. of J. Castro in Briones v. Cammayo, GR L-23559, Oct. 4, 1971, 41 SCRA 404

D.5.     Recovery of principal debt in usurious deals

• Lopez and Javelona v. El Hogar Filipino, GR 22678. Jan. 12, 1925, 47 Phil. 249

D.6.     Divisibility of contract

• US v. Tan Quingco Chua, GR 13708. Jan. 29, 1919, 39 Phil., 552

D.7.     Unconscionable interest rate in a loan

• Trade & Investment Development Corp. of the Phils. v. Roblett Industrial Construction Corp., 523 Phil. 360 (2006)
• Chua v. Timan, GR 170452. Aug. 13, 2008, 562 SCRA 146
• Limso v. PNB, GR 158622, Jan. 27, 2016, 782 SCRA 137

D.8.     Usury Law ceiling on interest rates removed

D.9.     Unilateral increase in interest rates violative of mutuality of contracts principle

D.10.   Escalation and de-escalation clauses

• Banco Fil. Savings and Mortgage Bank v. Judge Navarro, GR L-46591. July 28, 1987, 152 SCRA 346
• Phil. Savings Bank v. Castillo, GR 193178. May 30, 2011, 649 SCRA 527

D.11.   PAWNSHOPS; RATES OF INTEREST PRESCRIBED

D.12.   Redemption; computation of interest due after maturity of obligation

D.13.   Interest and surcharges extendible by pawnshops

• Medel v. CA, GR 131622. Nov. 27, 1998

           D.14. Collection by pawnshop of interest in advance

D.15.   Rate of interest in the absence of stipulation.

D.16.   Other charges.

D.17.   Method of computing interest by pawnshops

• DEPOSIT

E.1.     Deposit; definition

E.2.     Governing legal provisions on deposit

E.3.     Object of the contract of deposit       

• Phil. Health Care Providers, Inc. v. Commissioner of Internal Revenue, GR 167330. June 12, 2008, 554 SCRA 411

E.4.     Principal purpose of the contract of deposit

E.5.     Deposit; how constituted

E.6.     Characteristics of the contract of deposit

E.7.     Contract of deposit generally gratuitous; when deemed onerous

E.8.     Use of the thing deposited; rationale

E.9.     Nature of agreement to constitute a future deposit

E.10.   Deposit and commodatum differentiated

E.11.   Deposit and mutuum distinguished

E.12.   Renting of safety deposit box

• Sia v. CA, GR 102970. May 13, 1993, 222 SCRA 24

E.13.   Ownership of the thing deposited

E.14.   VOLUNTARY DEPOSIT

E.15.   Multiple depositors

E.16.   Form of deposit

E.17.   Parties to a contract of deposit

E.18.   Where depositary capacitated and depositor incapacitated

E.19.   Where depositary depositary is incapacitated and depositor capacitated

E.20.   Person to whom thing deposited must be returned

E.21.   Places where the thing deposited must be returned

E.22.   Time when thing deposited should be returned; exceptions

E.23.   Payment of expenses for preservation

E.24.   Payment of losses due to character of thing deposited

E.25.   Obligations of the depositary

E.26.   Right of two or more depositors

E.27.   Depositary’s right of retention

E.28-.  Deposit; how extinguished

E.29.   NECESSARY DEPOSIT

E.30.   Necessary deposit to comply with legal obligation

E.31.   Necessary deposit occurring during calamity

E.32.   Provisions regulating necessary deposit occurring during calamity; just compensation

E.33.   Deposit by travelers in hotels or inns

• YHT Realty Corp. v. CA, GR 126780. Feb. 17, 2005, 451 SCRA 638

E.34.   Hotels and inn; definitions and distinctions

E.35.   When hotel-keeper may be held liable

E.36.   When hotel-keeper may not be held liable

E.37.   Effect of concurrent or contributory negligence of hotel-keeper

E.38.   Hotel-keeper not allowed to exempt himself from or limit his liability

E.39.   Hotel-keeper’s right of retention and other recourse against non-paying guests

E.40.   JUDICIAL DEPOSIT OR SEQUESTRATION

• Bagalihog v. Fernandez, GR 96356. June 27, 1991, 198 SCRA 614

E.41.   Objects and purpose of judicial deposits

E.42.   Instances when judicial deposit takes place

E.43.   Responsibility of depositary of sequestered property

E.44.   Rules applicable to judicial deposits

• GUARANTY AND SURETYSHIP

F.1.     Guaranty and suretyship; definition

• Cacho v. Valles, GR 19493, Aug. 27, 1923, 45 Phil. 107
• CCC Insurance Corp. v. Kawasaki Steel Corp., GR 156162. June 22, 2015, 759 SCRA 332

F.3.     Distinctions between guarantor and surety

F.4.     Similarity between guaranty and surety

F.5.     Governing legal provisions on guaranty

F.6.     Characteristics of the contract of guaranty

• Velasquez v. Solidbank Corp., GR 157309 Mar. 28, 2008, 550 SCRA 119

F.7.     Kinds of guaranty

F.8.     Rules and legal provisions on guaranty

• Severino and Vergara v. Severino, GR 34642. Sep. 24, 1931, 56 Phil. 185
• Diño v. CA, GR 89775. Nov. 26, 1992, 216 SCRA 9
• Aglibot v. Santia, GR 185945. Dec. 5, 2012, 687 SCRA 283
• Visayan Distributors, Inc. v. Flora, GR L-3751. Oct. 25, 1952, 92 Phil., 145
• Orduña v. Fuentebella, GR 176841. June 29, 2010, 622 SCRA 146
• PNB v. CA, GR 33174. July 4, 1991, 198 SCRA 767

F.9.     Guaranty distinguished from warranty

• E. Zobel, Inc. v. CA, GR 113931, May 6, 1998, 290 SCRA 1
• Ang v. CA, GR 177874, Sep. 29, 2008, 567 SCRA 54
• Goodyear Phils., Inc. v. Anthony Sy, GR 154554, Nov. 9, 2005, 474 SCRA 427

F.10.   Guaranty construed in strictissimi juris

• Pacific Tobacco Co. v. Lorenzana, GR L-8086. Oct. 31, 1957, 102 Phil. 234

F.11.   Extent of guarantor’s liability

F.12.   Acceptance of guaranty by creditor and notice of such acceptance to guarantor

• National Bank v. Escueta, GR L-26118. Dec. 31, 1926, 50 Phil. 991

F.13.   Qualifications of guarantor

F.14.   Effect of supervening incapacity or loss of qualification of guarantor

• Estate of Hemady v. Luzon Surety Co., Inc., GR L-8437. Nov. 28, 1956, 100 Phil. 388

F.15.   Replacement and selection of guarantor

F.16.   Benefit of excussion or exhaustion

• JN Development Corp. v. Phil. Export and Foreign Loan Guarantee Corp., GR 151060. Aug. 31, 2005, 468 SCRA 555

F.17.   When guarantor not entitled to the benefits of excussion under Article 2059 of Civil Code

F.18.   Other exceptions to benefit of excussion

• Southern Motors, Inc. v. Barbosa, GR L-9306. May 25, 1956, 99 Phil. 263

F.19.   Excussion may be waived by guarantor; effects of waiver

• Trade and Investment Development Corp. of the Phils., also known as Phil. Export-Import Credit Agency v. Phil. Veterans Bank, GR 233850. July 1, 2019, 907 SCRA 66

F.20.   Default and demand on guarantor; effect of payment made after term of guaranty

F.21.   Consent of guarantor to extension granted by creditor to debtor

F.22.   Benefit of excussion a defense available only to guarantor

F.23.   Excussion not a prerequisite to secure judgment against guarantor

• Tupaz IV v. CA, GR 145578. Nov. 18, 2005, 475 SCRA 398

F.24.   Creditor required to make prior demand for payment from guarantor

• Viuda de Syquia v. Jacinto, GR 41320. Nov. 9, 1934, 60 Phil. 861
• Baylon v. CA, GR 109941. Aug. 17, 1999, 312 SCRA 502

F.25.   When guarantor may set up excussion against demanding creditor; requisites

F.26.   Duty of guarantor to point out to creditor available property of the debtor

• Luzon Steel Corp. v. Sia, GR L-26449. May 15, 1969, 28 SCRA 58

F.27.   Duty of creditor to exhaust all legal remedies

F.28.   Guarantor and debtor need not be sued jointly; exception

• US v. Varadero de la Quinta., GR 14370. Sep. 1, 1919, 40 Phil. 48

F.29.   Action by creditor against debtor

F.30.   Notice to guarantor of creditor’s action against debtor

• Towers Assurance Corp. v. Ororama Supermart, GR L-45848. Nov. 9, 1977, 80 SCRA 262

F.31.   Effect of compromise between creditor and debtor on guarantor

F.32.   Sub-guarantor’s right to excussion

F.33.   Benefit of division of obligation among co-guarantors; exceptions

F.34.   Benefit of excussion among co-guarantors

F.35.   Indemnity to guarantor

F.36.   Reimbursement for debt paid by guarantor

• Tuason, Tuason, Inc. v. Machuca, GR L-22177. Dec. 2, 1924, 46 Phil. 561
• Saenz v. Yap Chuan., GR 5470. Mar. 22, 1910, 16 Phil. 76

F.37.   When guarantor entitled to legal interest

• PNB v. Luzon Surety Co., Inc., GR L-29587. Nov. 28, 1975, 68 SCRA 207

F.38.   Expenses incurred by guarantor

F.39.   Damages recoverable by guarantor; right of subrogation

F.40.   Exceptions to guarantor’s right to indemnity

F.41.   Right of guarantor to subrogation

• Chemphil Export & Import Corp. v. CA, GR 112438-39, Dec. 12, 1995, 251 SCRA 257

F.42.   Rights of guarantor to indemnification and subrogation extends to surety

• Escano v. Ortigas, Jr., GR 151953. June 29, 2007, 526 SCRA 26

F.43.   Effect of payment by guarantor without notice to debtor

F.44.   Effect of payment by guarantor before or after maturity.

F.45.   Effect of repeat payment by debtor

F.46.   Right of guarantor to proceed against debtor before payment

F.47.   Release of guarantor before payment needs creditor’s consent

• Manila Surety & Fidelity Co., Inc. v. Almeda, GR L-27249. July 31, 1970, 34 SCRA 136

F.48.   Right to reimbursement of guarantor of third person requested by another

F.49.   Right to contribution of paying guarantor from co-guarantors

           F.50. Defenses available to co-guarantors

F.51.   Liability of sub-guarantor should guarantor become insolvent

F.52.   Causes of extinguishment of guaranty

• Tecnogas Phils. Manufacturing Corp. v. PNB, GR 161004, Apr. 14, 2008, 551 SCRA 183

F.53.   Effect on guaranty of creditor’s eviction

F.54.   Release of guarantor without consent of co-guarantors

F.55.   Effects of extension of time granted by creditor without guarantor’s consent

F.56.   Release when guarantor cannot be subrogated to creditor’s rights

• Bicol Savings & Loan Association v. Guinhawa, GR 62415. Aug. 20, 1990, 188 SCRA 642

F.57.   Defenses available to guarantor against creditor

F.58.   SURETYSHIP

• Agro Conglomerates, Inc. v. CA, GR 117660. Dec. 18, 2000, 348 SCRA 450

F.59.   Suretyship vis-à-vis guaranty

• Palmares v. CA, GR 126490. Mar. 31, 1998, 288 SCRA 422

F.60.   Surety’s liability

F.61.   Legal provisions applicable to suretyship

• Manila Surety & Fidelity Co., Inc. v. Batu Construction & Co., GR L-9353 May 21, 1957, 101 Phil. 494
• Ong v. Phil. Commercial International Bank, GR 160466. Jan. 17, 2005, 448 SCRA 705.

F.62.   Nature of surety’s liability

• Lim v. Security Bank Corp., GR 188539. Mar. 12, 2014, 718 SCRA 709

F.63.   Strictissimi juris does not apply to compensated sureties

• Pastoral v. Mutual Security Insurance Corp., GR L-20469, Aug. 31, 1965

F.64.   Strictissimi juris applicable only to accommodation surety

• Pacific Tobacco Corp. v. Lorenzana, GR L-8086. Oct. 31, 1957, 102 Phil. 234 
• LEGAL AND JUDICIAL BOND

G.1.     Bond; governing legal provisions; definition

• Commissioner v. Alikpala, GR L-32542. Nov. 26, 1970, 36 SCRA 208

G.2.     Legal or statutory bond

• Gerardo v. Plaridel Surety and Insurance Co., Inc., GR L-7807. Oct. 31, 1956, 100 Phil. 178

G.3.     Judicial bonds

G.4.     Bondsman; definition

G.5.     Qualifications of a bondsman

G.6.     Qualifications of sureties in property bond for criminal cases

           G.7.  Pledge or mortgage in place of bond

G.8.     Bondsman not entitled to benefit of excussion

• PLEDGE AND CHATTEL MORTGAGE IN GENERAL

H.1.     Pledge and chattel mortgage provisions repealed by Personal Property Security Act

H.2.     Pledge and chattel mortgage; definitions

• Ablaza v. Ignacio, GR L-11466. May 23, 1958, 103 Phil. 1151

H.3.     Essential requisites of contract of pledge or chattel mortgage

H.4.     Pledge or mortgage an accessory contract

H.5.     Right of creditor where debtor fails to comply with his obligation

H.6.     Pactum commissorium

• Fernandez Vda. de Zulueta v. Octaviano, GR L-55350. Mar. 28, 1983, 121 SCRA 314
• Philnico Industrial Corp. v. Privatization and Management Office, GR 199432, Aug. 27, 2014, 733 SCRA 703
• Solitarios v. Jaque, GR 199852. Nov. 12, 2014, 740 SCRA 226
• Puig v. Sellner and Green, GR 20013. Oct. 18, 1923, 45 Phil. 286

H.7.     Requisites of pactum commissorium

• Uy Tong v. CA, GR 77465, May 21, 1988, 161 SCRA 383

H.8.     Effect of void stipulation on principal obligation

H.9.     Indivisibility of pledge or mortgage

• Aquino v. Macondray & Co., Inc., GR L-5976. Oct. 25, 1955, 97 Phil., 731
• PNB v. Mallorca, GR L-22538. Oct. 31, 1967, 21 SCRA 694; Goquiolay v. Sycip, GR L-11840. July 26, 1960, 108 Phil. 947
• PNB v. De los Reyes, GR 46898-99, Nov. 28, 1989, 179 SCRA 619

H.10.   Indivisibility rule as applied to debtor’s and creditor’s heirs

H.11.   Where each one of several things guarantees determinate portion of credit

H.12.   Obligations secured by pledge or mortgage

• China Banking Corp. v. CA, GR 117604. Mar. 26, 1997, 270 SCRA 503

H.13.   Effect of promise to constitute a pledge or mortgage

H.14.   Criminal liability for estafa

1. PLEDGE

I.1.      Kinds of pledge

I.2.      Characteristics of pledge

I.3.      Property subject of pledge

I.4.      Cause or consideration in pledge

I.5.      Essence of transfer of possession of thing pledged

I.6.      Pledge must be in public instrument to bind third person

I.7.      Alienation by pledgor of thing pledged

I.8.      Right of pledgee to retain thing pledged

I.9.      Duty of pledgee to take due care of thing pledged; liability for damages

I.10.    Right of pledgee to reimbursement

I.11.    Pledgee cannot deposit to a third person the thing pledged; exception

I.12.    Responsibility of pledgee for acts of subordinates

I.13.    Responsibility of pledgor to pay damages for known hidden flaws

I.14.    Right of pledgee to compensate earnings of pledge with debt

I.15.    Treatment of offspring of animals pledged

I.16.    Right of pledgee to recover or defend possession of the chattel against a third person

I.17.    Duty of pledgee not to use the thing pledged

I.18.    Right of pledgee to retain and not to be compelled to return thing pledged; exception

I.19.    Right of pledgor to ask for deposit of thing pledged

I.20.    Right of pledgor to substitute thing pledged

I.21.    Right of pledgee to sell thing pledge

I.22.    Right of pledgee who is deceived as to substance or quality of chattel pledged

I.23.    Extinguishment of pledge by return of thing pledged; presumption of perfection of pledge

I.24.    Extinguishment of pledge by renunciation or abandonment; effect of waiver on debt

I.25.    Right of pledgee to cause public sale of thing pledged; formalities required by law

• Rodriguez, GR 132287. Jan. 24, 2006, 479 SCRA 571

I.26.    Only instance when pledgee may appropriate the thing pledged

I.27.    Right of pledgor and pledgee to bid

I.28.    Bids must pay purchase price in cash

I.29.    Effects of public auction of thing pledged

• Surety & Fidelity Co., Inc. v. Velayo, GR L-21069. Oct. 26, 1967, 21 SCRA 515

I.30.    Obligation of pledgee to inform pledgor or owner of result of public auction

I.31.    Satisfaction by third person of principal obligation

I.32.    Right of pledgee to collect amount due on credit pledged before its redemption; requisites

I.33.    Right of pledgee to select which of several things pledged to sell

I.34.    Rights and obligations of the pledgee

I.35.    Right of third person who pledged his own property

I.36.    Pledges created by operation of law

I.37.    Sale of thing under legal pledge

I.38.    Laws and regulations governing pawnshops and other similar establishments

I.39.    Pledge of future property under RA 11057 (PPSA)

J.1.      Chattel mortgage; definition

J.2.      Chattel mortgage laws repealed

J.3.      Chattel mortgage differentiated from pledge

J.4.      Chattel Mortgage Law supplemented by Civil Code

J.5.      Characteristics of chattel mortgage.

J.6.      General description of chattel valid

• v. Phil. Guaranty Co. Inc., GR L-13194. Jan. 29, 1960, 106 Phil. 919

J.7.      Registration of chattel mortgage

• International Finance Corp. v. CA, GR 107554. Feb. 13, 1997, 268 SCRA 178
• Refining Co. v. Jarque, GR 41506. Mar. 25, 1935, 61 Phil., 229
• 180

J.8.      Redemption of mortgaged property

J.9.      Extrajudicial foreclosure of chattel mortgage

• Bank and Trust Company v. S.F. Naguiat Enterprises, Inc., GR 178407. Mar. 18, 2015, 753 SCRA 474

J.10.    Stipulation extending chattel mortgage to after-acquired property

J.11.    Action by mortgagee for part of debt unpaid

• Trading & Supply Co. v. Tamaraw Plantation Co., GR 22995. Feb. 28, 1925, 47 Phil. 513

J.12.    Chattel mortgage of after-incurred obligations

• 1996, 260 SCRA 714

J.13.    Enforcement of mortgagee’s remedy

J.14.    Right of mortgagee to recover deficiency

• of the Phil. Islands v. Olutanga Lumber Co., GR 22656. Dec. 16, 1924, 47 Phil. 20
• Financing Corp., GR 150673. Feb. 28, 2003, 398 SCRA 508

J.15.    Instance where mortgagee has no right to recover deficiency

• Motor Co. v. Millan, GR 42256. Apr. 25, 1935, 61 Phil., 409
• Fernandez, 99 Phil. 782

J.16.    Private sale of personal property covered by chattel mortgage

K.1.     Personal Property Security Act

K.2.     Nationwide electronic registry

K.3.     Establishment of registry

K.4.     Purpose of PPSA

K.5.     Coverage of PPSA; exceptions

K.6.     Forms of security arrangements

K.7.     Security interests in personal property.

K.8.     Creation and continuity of security interest

K.9.     Form of security agreement

K.10.   Description of collateral

K.11.   Movable collaterals

K.12.   Security interest in general

K.13.   Security interest in a future property

K.14.   Security interests over right to proceeds and commingled funds

K.15.   Security interest over tangible assets commingled in a mass

K.16.   Security interest in certain accounts receivable

K.17.   Extinguishment of security interest

K.18.   Perfection and effectivity of security interest

K.19.   Means of perfection of security interest in tangible assets

K.20.   Means of perfection of security interest in intangible assets

K.21.   Means of perfection of security interest in intermediated securities or deposit accounts

K.22.   Means of perfection of security interest in electronic securities

K.23.   Means of perfection of security interest in intermediated electronic securities

K.24.   Control agreement; definition

K.25.   Registry mandates

K.26.   Sufficiency of notice

K.27.   Identification of grantor

K.28.   Authority to register initial notice

K.29.   Date of registration of notice

K.30.   Registration of notice of lien

K.31.   Registration of single notice under 1 or more security agreements

K.32.   Effectiveness of notice

K.33.   Amendment of notice

K.34.   Who may file amendment notice?

K.35.   Amendment notice adding a collateral or grantor; effectivity

K.36.   Registration of amendment notice containing assignment of security interest

K.37.   Continuation of notice

K.38.   Termination of effectiveness of a notice

K.39.   Determination of priority of security interests and liens on same collateral

K.40.   Enforcement with or without judicial process

K.41.   Repossession of the collateral (without judicial process); breach of peace; removal of fixture

K.42.   Repossession of the collateral (with judicial process); application for order of possession

K.43.   Disposition of collateral; when commercially reasonable or unreasonable

K.44.   Notification requirements prior to disposition; exceptions

K.45.   Sufficiency of notification of disposition

K.46.   Modes of service of notification

K.47.   Extra-judicial and judicial dispositions of collateral

K.48.   Posting and advertisement of extrajudicial; sale

K.49.   Indicators of good faith and commercial reasonableness

K.50.   Winning bidder to pay bid price after public auction

K.51.   Government agency or private entity to undertake public auction; rules of auction

K.52.   Sale where secured creditor may buy collateral

K.53.   Conclusively presumption of commercial reasonableness of disposition

K.54.   Right of redemption; by whom and when exercised

K.55.   Application of proceeds of disposition

K.56.   Proposal by secured creditor to debtor, grantor, et al, to take collateral as satisfaction of obligation

K.57.   Instances when secured creditor may retain collateral

K.58.   When proposal for retention of collateral deemed sufficient

L.1.     Real estate mortgage; definition

• NLRC, GR 82763-64. Mar. 19, 1990, 183 SCRA 328

L.2.     Characteristics of real estate mortgage

L.3.     Consideration of mortgage

• 460

L.4.     Kinds of real estate mortgage

L.5.     Objects of real estate mortgage

L.6.     Essential requisites of real estate mortgage

L.7.     Right of mortgagee to register contract of mortgage

• v. Basa, GR 48695. Sep. 30, 1942, 73 Phil., 704

L.8.     Effect of non-registration of mortgage

L.9.     Possession of mortgaged property

• v. People, GR 141931. Dec. 4, 2000, 346 SCRA 881

L.10.   Nature of mortgage

• v. Villar, GR 158891. June 27, 2012, 675 SCRA 80

L.11.   Extension of effects of real estate mortgage to accessions and accessories

• , 58 Phil. 439

L.12.   Alienation or assignment of mortgage credit to third person

• 1988, 157 SCRA 100

L.13.   Effect of transfer of mortgaged property to third person

• v. Santos, GR 49576, Nov. 21, 1991, 204 SCRA 53
• . Inserto, GR L-56450. July 25, 1983, 123 SCRA 713

L.14.   Stipulation prohibiting alienation of mortgaged property

• 130722. Dec. 9, 1999, 320 SCRA 405

L.15.   Laws governing mortgage and its nuances

L.16.   Foreclosure of real estate mortgage

L.17.   Nature of foreclosure, power to foreclose

• SCRA 326

L.18.   JUDICIAL FORECLOSURE OF REAL ESTATE MORTGAGE; CONTENTS OF COMPLAINT

L.19.   Judgment on foreclosure; definition

L.20.   Satisfaction of judgment on foreclosure

L.21.   Foreclosure sale

L.22.   Motion required to effect sale of mortgaged property

L.23.   Basic requisites of foreclosure sale; notice and publication

• Oct. 31, 1962, 6 SCRA 530

L.24.   Posting and publication requirements

L.25.   Purpose of the posting and publication of notice

• AM P-97-1249, July 11, 1997, 275 SCRA 329

L.26.   Effect of foreclosure sale and its confirmation

L.27.   Right of redemption not recognized in a judicial foreclosure

L.28.   Excepted entities; shorter redemption period for on same juridical persons

• Alba Resort, Inc. v. CA, GR 128567, Sep. 1, 2000, 339 SCRA 534
• ., GR 222407. Nov. 23, 2016, 810 SCRA 409

L.29.   Equity of redemption

L.30.   Effect of final order of confirmation or lapse of redemption period; date of sale construed

L.31.   Possessory right of purchaser at foreclosure sale; exception

L.32.   Motion for confirmation of sale

L.33.   Buyer in foreclosure sale becomes absolute owner of property purchased

• v. Land Bank of the Phils., GR 174711, Sep. 17, 2008, 565 SCRA 611

L.34.   Purchaser or last redemptioner may secure writ of possession

L.35.   To whom amount realized from foreclosure sale should be paid

L.36.   To whom balance or residue paid

L.37.   Nature of application of proceeds from foreclosure sale; duty to return surplus

L.38.   Effect of failure of mortgagee to deliver surplus proceeds on validity of foreclosure sale; recourse of mortgagor

L.39.   When sale may terminate

L.40.   When more property may be sold

L.41.   When whole property instead of portions of it may be sold

L.42.   Deficiency judgment; definition

• Phils. v. IAC, GR 74730, Aug. 25, 1989, 176 SCRA 741

L.43.   Plaintiff’s remedy in case of deficiency

L.44.   When motion for deficiency judgment may be made

L.45.   When execution for balance due to plaintiff may issue

L.46.   Court order confirming sale to be registered with RD

L.47.   Issuance of new certificate of title in purchaser’s name

L.48.   Certificate of title in mortgagor’s name not cancelled in case of existence of right of redemption; memorandum

L.49.   Procedure where property sold is redeemed or not redeemed

L.50.   Application of certain provisions of Rule 39 to Rule 68 of the Rules of Court

L.51.   EXTRAJUDICIAL FORECLOSURE OF REAL ESTATE MORTGAGE; APPLICATION

L.52.   Laws governing extrajudicial foreclosure

L.53.   Essential requisites of extrajudicial foreclosure of real estate mortgage

L.54.   Procedure for extrajudicial foreclosure of mortgage prescribed by Supreme Court

L.55.   Right of creditor to take part in bidding

L.56.   Right of redemption

• Family Savings Bank, Inc. v. Veloso, GR 141974. Aug. 9, 2004, 436 SCRA 1

L.57.   Right of redemption distinguished from equity of redemption

L.58.   Requisites for valid redemption

• v. Yboa, GR L-42282. Feb. 28, 1983, 120 SCRA 869

L.59.   Redemption price

• SCRA 480

L.60.   Tender of redemption price

• 2008, 569 SCRA 814
• anking Corp. v. Mateo, GR 167420. June 5, 2009, 588 SCRA 538

L.61.   Effect of failure to redeem

• v. CA, GR 80739. Aug. 20, 1992, 212 SCRA 700

L.62.   Writ of possession pending redemption

L.63.   Consolidation of title in favor of auction buyer

• SCRA 795

L.64.   Redemption vis-à-vis repurchase

• Robles v. CA, GR 128053. June 10, 2004, 431 SCRA 566

M.1.    Antichresis; definition

• v. CA, GR 46623. Mar. 4, 1994, 230 SCRA 699

M.2.    Characteristics of antichresis

M.3.    Delivery of the property to antichretic creditor

M.4.    Antichretic creditor cannot appropriate property

M.5.    Basis of application of fruits to interest and principal

M.6.    Form of antichresis contract

M.7.    Obligations of antichretic creditor

M.8.    Debtor’s reacquisition of immovable; creditor’s right of retention

M.9.    Remedy of creditor in case of nonpayment of debt on time

M.10.  Stipulation allowing mortgagee to take possession of immovable upon foreclosure

• 1942, 73 Phil., 555

M.11.  Interest in antichresis covered by MB Resolution No. 2224, as implemented by CBP Circular No. 905, Series of 1982

M.12.  Applicability of certain Civil Code provisions to antichresis

N.1.     System of concurrence and preference of credits; governing legal provisions

• of the Code Commission, pp. 163-164

N.2.     Kinds of credits

N.3.     Extent of liability of debtor

N.4.     Exempt property

N.5.     What exempt present property comprises

N.6.     What is embraced by future property?

N.7.     Property in custodia legis and of public dominion

• Odlin, GR 1372. Feb. 20, 1904, 3 Phil., 344
• , 49 Phil. 52

N.8.     Laws governing insolvency

N.9.     Insolvency terms; definition

• Mla. v. CA, GR L-35253, July 26, 1976, 72 SCRA 98

N.10.   Exemption of conjugal partnership or absolute community assets

N.11.   Rule when one of co-owners is insolvent debtor

• CA, GR 76351, Oct. 29, 1993, 227 SCRA 472

N.12.   Rule when property held in trust by insolvent debtor

N.13.   General classes of credit

N.14.   Preferred credits as to specific movables under Article 2241 repealed by RA 11057

N.15.   Preferred credits as to specific immovables

• 411

N.16.   Preferred credit status of vendor’s lien

N.17.   Preference of credits applies only where concurrence of credits exists

• SCRA 24

N.18.   Nature of claims or credits in Article 2242

N.19.   Two-tier order of preference

N.20.   Article 2243 of Civil Code partly repealed

N.21.   Article 2244 of Civil Code modified by Article 110 of Labor Code on priority for claims for unpaid wages and other monetary claims

N.22.   Order of preference as to other properties of debtor

N.23.   What the application of order of priority ensures

N.24.   Ordinary creditor; common credits

N.25.   Application of pro rata rule

• 19 SCRA 621

N.26.   Order of preference of credits

N.27.   Preference enjoyed by secured creditors over unsecured creditors

• Commercial Banking Corp. v. IAC, GR 74851. Dec. 9, 1999, 320 SCRA 279

N.28.   Preference enjoyed by secured creditors over specific mortgaged property

• June 26, 2008, 555 SCRA 465

N.29.   Preference of credit and lien distinguished

N.30.   Necessity of proceeding for prorating preferred credits

N.31.   Excess after payment of preferred credits added to debtor’s free property

N.32.   Rules on satisfaction of other credits

O.1.     Rehabilitation and insolvency under FRIA

O.2.     Coverage of and exclusions from FRIA

O.3.     Applicability of FRIA

O.4.     Rules of Procedure on Financial Rehabilitation

O.5.     Rehabilitation; definition

O.6.     Purpose of rehabilitation; distinguished from liquidation

O.7.     What corporate rehabilitation envisages

• of Communications v. Basic Polyprinters and Packaging Corp., GR 187581. Oct. 20, 2014, 738 SCRA 561
• TC, Branch 51, City of Manila, GR 173846. Feb. 2, 2011, 641 SCRA 438

O.8.     Insolvency and insolvent; definitions

O.9.     Kinds of insolvent debtors

O.10.   Rehabilitation proceedings; definition; purpose

• 224764. Apr. 24, 2017, 824 SCRA 125

O.11.   Jurisdiction over rehabilitation proceedings

O.12.   Jurisdiction over affected parties; how acquired

O.13.   Commencement Order; issuance; contents

O.14.   Effectivity of Commencement Order

• Bank and Trust Company v. Liberty Corrugated Boxes Manufacturing Corp., Jan. 25, 2017, 815 SCRA 458

O.15.   Purposes of rehabilitation proceedings

O.16.   Ultimate and prime consideration in rehabilitation

O.17.   Fundamental issues in corporate rehabilitation

O.18.   Material financial commitment essential in rehabilitation

O.19.   Nature of rehabilitation proceedings

• 165001, 31 Jan. 2007, 513 SCRA 601

O.20.   Kinds of rehabilitation proceedings

O.21.   Voluntary CSR proceedings

O.22.   Rehabilitation Plan

O.23.   Contents of Rehabilitation Plan

O.24.   Rehabilitation receiver

O.25.   Qualifications of rehabilitation receiver

O.26.   Appointment of rehabilitation receiver

O.27.   Management committee; appointment

O.28.   Composition of management committee

O.29.   Involuntary CSR proceedings

O.30.   Procedure for voluntary and involuntary rehabilitation proceedings 

O.31.   Commencement Order; issuance; contents

O.32.   Effectivity of Commencement Order

• Bank and Trust Company v. Liberty Corrugated Boxes Manufacturing Corp., Jan. 25, 2017, 815 SCRA 458

O.33.   PNR proceedings; petition; contents

O.34.   Grounds for objection to petition or PNR Plan; service of copies of objection

O.35.   Comments on petition

O.36.   Hearing on objections and comments; when court may convert proceedings; effect when objection is not meritorious or is cured

O.37.   Period for approval of PNR Plan

O.38.   Approval and implementation of PNR Plan

O.39.   Effect of approval of PNR Plan

O.40.   OCRA; minimum requirements; effectivity

O.41.   Standstill period; effectivity

O.42.   Expiration of standstill period

O.43.   Purpose of standstill period

O.44.   Cram-down effect; effect of cram-down clause

• Sarabia Manor Hotel Corp., GR 175844. July 29, 2013, 702 SCRA 432

O.45.   Petition for court assistance; by whom filed

O.46.   Finality of judgment in suit involving OCRA

O.47.   Stay Order; issuance; coverage; effect; effectivity

O.48.   Exceptions to Stay or Suspension Order

O.49.   Effects of Stay Order

O.50.   Actions and claims against debtor deemed suspended by Stay Order

• GR 167768. Apr. 17, 2009, 586 SCRA 45
• , GR 171681. Sep. 11, 2009, 599 SCRA 534

O.51.   Objectives in insolvency and suspension of payments proceedings

O.52.   Suspension of payments

O.53.   Petition for suspension of payments

O.54.   Court order for suspension of payments

O.55.   Liquidation

O.56.   Voluntary liquidation of insolvent juridical debtor

O.57.   Petition for liquidation

O.58.   Motion for liquidation in rehabilitation proceedings

O.59.   When court may issue Liquidation Order

O.60.   Voluntary liquidation of insolvent individual debtor; contents of petition; act of insolvency

O.61.   Involuntary liquidation of insolvent juridical debtor; contents of petition

O.62.   Motion to convert CSR or PNR proceedings into liquidation proceedings

O.63.   Involuntary liquidation of insolvent individual debtor

O.64.   Liquidation Order; contents

O.65.   Effects of Liquidation Order

O.66.   Liquidator; registry; liquidation plan

O.67.   Duties of liquidator

O.68.   Observance of rules of concurrence and preference of credits

P.1.     Warehouse receipt; definition

P.2.     Permissive nature of warehouse receipt

• v. Go Tiong, GR L-11776, Aug. 30, 1958, 104 Phil. 492

P.3.     Kinds of warehouse receipt

P.4.     Negotiable warehouse receipt

P.5.     Non-negotiable warehouse receipt

P.6.     Governing law

P.7.     Functions of warehouse receipt

• Bros. & Sons, Inc. v. CA, GR L-110581. Sep. 21, 1994, 236 SCRA 617

P.8.     Who may issue warehouse receipts?

P.9.     What is a warehouse?

P.10.   Form and essential terms of warehouse receipt

P.11.   What terms may be inserted in warehouse receipt?

P.12.   What terms and conditions may not be included in warehouse receipt

P.13.   Effects of omission of essential term of warehouse receipt

P.14.   Construction of warehouse receipts

P.15.   Duplicate warehouse receipts and their markings

P.16.   Liability of warehouseman

P.17.   Effect of marking on face of warehouse receipt

P.18.   Effect of failure to mark non-negotiable warehouse receipt

P.19.   Principal obligations of warehouseman

P.20.   Duty of warehousemen to deliver the goods

P.21.   Effect of warehouseman’s refusal or failure to deliver the goods

P.22.   Persons to whom goods must be delivered

P.23.   Valid reasons for warehouseman to refuse to deliver goods

• GR 129918, July 9, 1998, 292 SCRA 202

P.24.   Offer to satisfy warehouseman’s lien

P.25.   Offer to surrender negotiable receipt and sign acknowledgment of receipt of goods delivered

           P.26. When delivery of goods may be compelled; exception

P.27.   Effects of altered warehouse receipt

P.28.   Liability for material and fraudulent alteration

P.29.   Liability of warehouseman in case of lost or destroyed receipts; bond requirement

P.30.   When warehouseman may be excused from liability to deliver the goods

P.31.   Interpleader of adverse claimants

• People’s Homesite & Housing Corp., GR L-25138. Aug. 28, 1969

P.32.   When warehouseman is given reasonable time to determine validity of claims or compel claimants to interplead

P.33.   Liability for non-existence or misdescription of goods

P.34.   Liability for care of goods

P.35.   Goods must be stored separate from each other; exception

P.36.   Attachment or levy upon goods covered by negotiable warehouse receipt

P.37.   Creditor’s remedy to reach negotiable warehouse receipt

P.38.   Warehouseman’s lien; definition

P.39.   Claims included in warehouseman’s lien

P.40.   Remedies available to warehouseman to enforce his lien

P.41.   Against what property may warehouseman’s lien be enforced?

P.42.   How may warehouseman’s lien be lost?

• Banking Corp. v. CA, GR 45961. July 3, 1990, 187 SCRA 138

P.43.   Negotiable warehouse receipt must state charges for which warehouseman’s lien is claimed

P.44.   Warehouseman need not deliver until lien is satisfied

P.45.   Warehouseman’s lien does not preclude other remedies

P.46.   Satisfaction of warehouseman’s lien by sale; notice; contents

P.47.   Effect of sale of goods in satisfaction of warehouseman’s lien

P.48.   Negotiation of negotiable warehouse receipts by delivery

P.49.   Negotiation of negotiable warehouse receipts by indorsement

P.50.   Transfer or indorsement of non-negotiable warehouse receipt

P.51.   Who may negotiate a warehouse receipt?

P.52.   Rights of person to whom warehouse receipt is negotiated

P.53.   Rights of person to whom warehouse receipt is transferred

P.54.   When title of transferee may be defeated

P.55.   Transfer of negotiable warehouse receipt without indorsement; when negotiation takes effect

P.56.   Warranties of sale of warehouse receipt

P.57.   Indorser of warehouse receipt not deemed a guarantor

P.58.   No warranty implied from accepting payment of debt secured by warehouse receipt

P.59.   When negotiation of warehouse receipt not impaired by fraud, mistake, or duress

P.60.   Effect of subsequent negotiation of warehouse receipt

P.61.   Negotiation defeats vendor’s lien

P.62.   Criminal offenses

Q.1.     Trust receipt; definition

Q.2.       What constitutes a trust receipt transaction?

Q.3.     Contents of trust receipt

Q.4.     Subjects of trust receipt transaction

Q.5.     Obligations in trust receipt transaction

• People, GR 173905, Apr. 23, 2010, 619 SCRA 291

Q.6.     Parties in trust receipt transaction

• Sec. of Justice, GR 164317, Feb. 6, 2006, 481 SCRA 609

Q.7.     Is the seller of goods a party to trust receipt transaction? 

Q.8.     Obligation of entrustee for unsold articles

Q.9.     Ownership of items subject of trust receipt

Q.10.   Rights of entruster

Q.11.   Discretion of entruster to cancel trust receipt and possess goods in case of entrustee’s default

Q.12.   Disposition of proceeds of sale of articles

Q.13.   When criminal and civil liabilities of entrustee extinguished

Q.14.   Right of entruster to demand deficiency

• Company (Phil.) Inc. v. Metropolitan Bank & Trust Co., GR 159622. July 30, 2004, 435 SCRA 639

Q.15.   Obligations of entruster to entrustee

Q.16.   Rights of entrustee

Q.17.   Obligations of entrustee

Q.18.   Alternative obligations of entrustee

Q.19.   When intent to defraud is presumed

Q.20.   Effects of entrustee’s breach of alternative obligations

Q.21.   Failure of entrustee to turn over proceeds of sale or return goods punished as mala prohibitum

• Bank v. Ong, GR 133176. Aug. 8, 2002, 387 SCRA 37

Q.22.   Elements of estafa under Revised Penal Code, in relation to Trust Receipts Law

Q.23.   Acquittal of entrustee not a bar to separate civil action

Q.24.   To whom penalty is imposed where entrustee is a juridical entity; rationale

Q.25. Effects of entrustee’s compliance with obligations

Q.26.   Transaction when return of goods not possible

Q.27.   Nature of trust receipt transaction

Q.28.   Trust receipt deemed a security transaction

Q.29.   Purposes of Trust Receipts Law

Q.30.   What Trust Receipts Law seeks to punish

Q.31.   Civil law principles eschewed by Trust Receipts Law

Q.32.   Loan and security features of trust receipt transaction

Q.33.   What is a letter of credit in trust receipts transaction

• , 443 SCRA 307

Q.34.   What is security interest?

Q.35.   Entruster not responsible on sale by entrustee

Q.36.   Liability of entrustee for loss of articles

Q.37.   Rights of innocent purchaser for value

Q.38.   Validity of entruster’s security interest as against creditors

R.1.     Letter of credit; definition

R.2.     Governing laws and rules

R.3.     Concept and nature of letter of credit

R.6.     Correspondent, notifying, negotiating, and confirming banks

• Corp., GR 183486. Feb. 24, 2016, 784 SCRA 659

R.7.     Essential conditions of a letter of credit

R.8.     Period of validity of letter of credit

R.9.     Letters of credit compared with other accessory contracts; independence from main contract

R.10.   Independence principle in law on letters of credit

R.11.   Fraud exception; essential elements

R.12.   Doctrine of strict compliance

R.13.   Parties to a letter of credit

R.14.   Other parties to a letter of credit

R.15.   Letter of credit a contract with stipulation pour autrui

R.16.   What a letter of credit is not

R.17.   Irrevocable credit not synonymous with confirmed credit

• SCRA 576

R.18.   Different kinds of letters of credit

R.19.   Red clause letter of credit

R.20.   Evergreen letter of credit

S.1.     Governing law

S.2.     Parties to financing transaction under Truth in Lending Act

• 53623. Mar. 22, 1990, 183 SCRA 485

S.3.     Information required to be given by creditor to debtor

S.4.     Finance charge construed

S.5.     Reason for prior disclosure requirement

S.6.     Effect of failure of creditor to make written disclosure

S.7.     Cases involving non-disclosure of required information

S.8.     Liability for non-disclosure

S.9.     Prescriptive period to file action

S.10.   Penal provision