Social Science
Law
Civil Law
CHATTEL MORTGAGE
CHATTEL MORTGAGE
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Terms in this set (9)
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NO, Z's demand is not valid. A building is immovable or
CHATTEL MORTGAGE
real property whether it is erected by the owner of the
land, by a usufructuary, or by a lessee. It may be
treated as a movable by the parties to chattel
mortgage but such is binding only between them and
not on third parties (Evangelista v. Alto Surety Col, Inc.,
G.R. No. L-11139, April 23, 1958). In this case, since the
bank is not a party to the chattel mortgage, it is not
bound by it, as far as the Bank is concerned, the
chattel mortgage, does not exist. Moreover, the chattel
mortgage does not exist. Moreover, the chattel
mortgage is void because it was not registered.
Assuming that it is valid, it does not bind the Bank
because it was not annotated on the title of the land
mortgaged to the bank. Z cannot demand that the
Bank pay him the loan Z extended to X, because the
Bank was not privy to such loan transaction.
CHATTEL MORTGAGE
YES, A can recover his car from the Savings and Loan
Association. In a Chattel Mortgage, the mortgagor
must be the absolute owner of the thing mortgaged.
Furthermore, the person constituting the mortgage
must have the free disposal of the property, and in the
absence thereof, must be legally authorized for the
purpose. In the case at bar, these essential requisites
did not apply to the mortgagor B, hence the Chattel
Mortgage was not valid.
A: Assuming that the aircraft was sold for P1 Million,
there is no order of preference. The P1 Million will all 81
go to the bank as a chattel mortgagee because a
chattel mortgage under Art. 2241 (4) defeats Art. 2244
and (14). Art. 2241 (3) and (5) are not applicable
because the aircraft is no longer in the possession of
the creditor.
NO, Z's demand is not valid. A building is immovable or
CHATTEL MORTGAGE
real property whether it is erected by the owner of the
CHATTEL MORTGAGE_a
land, by a usufructuary, or by a lessee. It may be
treated as a movable by the parties to chattel
mortgage but such is binding
only between them and not on third parties
(Evangelista v. Alto Surety Col, Inc., G.R. No. L-11139,
CHATTEL MORTGAGE_b
April 23, 1958). In this case, since the bank is not a party
to the chattel mortgage, it is not bound by it, as far as
the Bank is concerned, the chattel
mortgage, does not exist. Moreover, the chattel
mortgage does not exist. Moreover, the chattel
CHATTEL MORTGAGE_c
mortgage is void because it was not registered.
Assuming that it is valid, it does not bind the Bank
because it was not annotated on the title of the
land mortgaged to the bank. Z cannot demand that the
CHATTEL MORTGAGE_d
Bank pay him the loan Z extended to X, because the
Bank was not privy to such loan transaction.
YES, A can recover his car from the Savings and Loan
Association. In a Chattel Mortgage, the mortgagor
CHATTEL MORTGAGE_e
must be the absolute owner of the thing mortgaged.
Furthermore, the person constituting the mortgage
must have the free tor.
disposal of the property, and in the absence thereof,
must be legally authorized for the purpose. In the case
CHATTEL MORTGAGE_f
at bar, these essential requisites did not apply to the
mortgagor B, hence the Chattel Mortgage was not
valid.
A: Assuming that the aircraft was sold for P1 Million,
CHATTEL MORTGAGE_g
there is no order of preference. The P1 Million will all 81
go to the bank as a chattel mortgagee because a
chattel mortgage under Art. 2241 (4) defeats Art. 2244
CHATTEL MORTGAGE_h
and (14). Art. 2241 (3) and (5) are not applicable
because the aircraft is no longer in the possession of
the credi