SECTRANDS

Question 1

DEF OF PLEDGE

Answer 1

it is a delivery of an movable to secure an obligation

Question 2

DEF OF REM

Answer 2

it is a delivery of an immovable to secure an obligation

Question 3

REQUISITE OF PLEDGE

Answer 3

Security, Free Disposal, Absolute Owner , Alienation, Public Instrument, Delivery (SOFA-PD)

Question 4

REQUISITES OF REM

Answer 4

Security, Absolute Owner, Free Disposal, Alienation, Registration (Possession by the Mortgagee is not required)

Question 5

NATURE OF PLEDGE

Answer 5

Real, Accessory, Unilateral, Subsidiary, Indivisible

Question 6

NATURE OF REM

Answer 6

Real, Accessory, Subsidiary

Question 7

FORM OF REM

Answer 7

No form for Validity but must be in writing to bind TP

Question 8

FORM OF PLEDGE

Answer 8

No form for Validity but must be in writing to bind TP

Question 9

SUBJ MATTER OF PLEDGE

Answer 9

MOVABLE: FUTURE PROPERTY NOT ALLOWED. THE PLEDGOR MUST BE THE ABSOLUTE OWNER

Question 10

SUBJ MATTER OF REM

Answer 10

IMMOVABLE OR REAL RIGHTS: FUTURE PROPERTY IS NOT ALLOWED: EXCEPT FUTURE IMPROVEMENT

Question 11

EXTENT OF PLEDGE

Answer 11

INTEREST, EARNINGS;OFFSPRING (EWS)

Question 12

EXTENT OF REM

Answer 12

EXTENDS TO FRUITS, ACCESSORIES AND OFFSPRINGS

Question 13

CONSIDERATION OF PLEDGE

Answer 13

PLDEGOR, DETOR; PRINCIPAL CONTRACT.
TP PLEDGOR: LIBERALITY

Question 14

CONSIDERATION OF REM

Answer 14

SAME AS THE PRINCIPAL CONTRACT

Question 15

PROCEDURE OF REM

Answer 15

1. EXECUTE
   2.NOTRAIZE
2. DOC STAMP TAX
   4.REGISTRY OF THE DEEDS
3. ANNOTATE

Question 16

PLEDGEE HAS NO RIGHT TO USE EXCEPT.

Answer 16

authorized and for preservation

Question 17

RIGHTS OF PLEDGOR

Answer 17

1. ALIENATE BIUT NO TRANSMISSION UNTIL CONSENT GIVEN BY THE PLEDGEE
2. DEMAND DEPOSIT IN CASE OF WILLFUL IMPAIRMENT BY PLEDGEE
   3.PREFERRED BIDDER

Question 18

RIGHTS OF PLEDGEE

Answer 18

1. RETENTION UNTIL FULL PAYMENT
2. APPLY FRUITS TO INTEREST, PRINCIPAL
3. IF DECIEVED AS TO QUALITY (SUBSTITUTE OR DEMAND IMMEDIATE PAYMENT)
   4.PUBLIC SALE (DU-PA-NO-NO)

Question 19

PEDGEE SALE

Answer 19

EXTINGUISHMENT

Question 20

PLEDGE: DEFIENCY AND EXCESS

Answer 20

PLEDGEE IS NOT ENTITLE TO DEFIENCY; PLEDGOR NOT ENTITLED TO EXCESS (EWS) EXCEPT LEGAL PLEDGE

Question 21

PROHIBITION OF ALIENATION BY MORTGAGOR IS NOT ALLOWED EXCEPT

Answer 21

FOR REGULATION

Question 22

DEF OF ANTICHRESIS

Answer 22

creditor acquires the right to
receive the fruits of an
immovable belonging to the
debtor, with the obligation to
apply to the interest, if owing,
and thereafter to the principal

Question 23

REQUISITES OF ANTICHRESIS

Answer 23

Writing, Real Property
*Delivery not required for
VALIDITY, only required for
creditor to RECEIVE

Question 24

NATURE OF ANTICHRISES

Answer 24

Accessory, Formal, applies to
ALL FRUITS (ews)

Question 25

FORM OF ANTICHRISES

Answer 25

Must be in writing in order to be VALID

Question 26

SUBJ MATTER OF ANTICRISES

Answer 26

Interest over Immovable

Question 27

EXTENT OF ANTICHRISES

Answer 27

ALL FRUITS w/ obligation to apply to interest, principal

Question 28

MARKET VALUE AT THE TIME OF APPLICATION - ANTICHRISES

Answer 28

ACTUAL MARKET VALUE AT THE TIME OF APPLICATION - ANTICHRISES

Question 29

RIGHT TO APPLY TO FRUITS - ANTICHRISES

Answer 29

Unlike mortgage, creditor acquires only the right to receive the fruits of the property; not a real right

Question 30

DEF OF CHATTEL MORTAGAGE

Answer 30

personal property is recorded in the ChattelMortgage Register as a security for the performance of an obligation.

Question 31

REQUISITES OF CHATTEL MORTAGGE

Answer 31

SOFAR + Affidavit of GF *Possession by Mortgagee not required

Question 32

NATURE OF CHATTLE MORTAGAGE

Answer 32

Accessory, Formal, Unilateral

Question 33

FORM OF CHATTLE MORTGAGE

Answer 33

No form for VALIDITY but must be in writing to BIND TP * Registration + Affidavit of GF

Question 34

SUBJ MATTER OF CHATTLE MORTGAGE

Answer 34

MOVABLE