Article 2107
ELI5— what this means for you
If there are reasonable grounds to fear the destruction or impairment of the thing pledged, without the fault of the pledgee (person holding collateral), the pledgor (person giving collateral) may demand the return of...
Official text — RA 386
If there are reasonable grounds to fear the destruction or impairment of the thing pledged, without the fault of the pledgee, the pledgor may demand the return of the thing, upon offering another thing in pledge, provided the latter is of the same kind as the former and not of inferior quality, and without prejudice to the right of the pledgee under the provisions of the following article.
The pledgee is bound to advise the pledgor, without delay, of any danger to the thing pledged. (n)
Source: lawphil.net (RA 386 as amended)
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