Article 2108

RA 386 · Civil Code of the PhilippinesKey provision

ELI5— what this means for you

If, without the fault of the pledgee (person holding collateral), there is danger of destruction, impairment, or diminution in value of the thing pledged, he may cause the same to be sold at a public sale.

Official text — RA 386

If, without the fault of the pledgee, there is danger of destruction, impairment, or diminution in value of the thing pledged, he may cause the same to be sold at a public sale. The proceeds of the auction shall be a security for the principal obligation in the same manner as the thing originally pledged. (n)

Source: lawphil.net (RA 386 as amended)

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