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Layson ACC312 in A Nutshell PDF

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Ayah Layson
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53 views1 page

Layson ACC312 in A Nutshell PDF

Uploaded by

Ayah Layson
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© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Rhea Alyxes Joyce Layson III-BSA

Prof. Philip Pojas ACC312 (5087)

Difference of the following essential terms:

Commodatum Mutuum
In commodatum contract, the subject matter In mutuum contract, the subject matter may
ordinarily involves something not be consummable thing, such that of money
consummable. or things that cannot be used without their
being consumed.
The bailor or lender may demand the thing The lender may not demand its return before
at will or at anytime he/she wants it back, the lapse of the term agreed upon in the
such that of precarium contract. contract.
The borrower or the bailee must return the The borrower or bailee does not need to pay
exact identical thing after using or at the will the exact thing but only that of the same
of the bailor. amount of the same kind and quality.
Ownership is not transferred to the bailee. All Ownership in mutuum is transferred to the
that is transferred to the borrower or bailee is borrower or bailee upon delivery of the thing.
merely the use of the thing for a certain time.
The purpose of commodatum is for the The purpose of mutuum, since it involves
borrower or bailee to use the thing and return consummable subject matter, is primarily
it. loan for consumption.
Commodatum is essentially a gratuitous Mutuum may be gratuitous or onerous, that
contract by virtue of which the lender or is, with stipulation to pay interest.
bailor delivers a thing which the borrower or
bailee may use it.

Deposit Guaranty
The main purpose of deposit is for The main purpose of guaranty is to fulfill the
safekeeping of the object or subject matter obligation of the principal debtor in case the
and return it. latter should failed to do so.
There is no pre-existing obligation and the There is a pre-existing obligation because
obligation is only constituted from the the guarantor depends for its existence upon
moment the depositary receives a thing. the principal obligation guaranteed by it.
The obligation of the depositary is The obligation of the guarantor is
extinguished, when the thing deposited is extinguished after he fulfilled the obligation
returned to the depositor. of the principal debtor.
The subject matter, as a general rule, is only The subject matter in gauranty is either
pertains to movable property. movable in the form of pledge or chattel
mortgage or immovable in the form of real
mortgage.
The depositary, as a general rule, is primarily The guarantor is secondary or subsidiarily
or directly liable to the depositor. liable to the personal debtor.

The ownership of the object or the subject The ownership of the object or the subject
matter remains to the depositor. matter is transferred to the creditor upon the
fulfillment of the obligation by the guarantor.

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