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Article 2119

RA 386 · Civil Code of the PhilippinesKey provision

ELI5— what this means for you

If two or more things are pledged, the pledgee (person holding collateral) may choose which he will cause to be sold, unless there is a stipulation to the contrary.

Official text — RA 386

If two or more things are pledged, the pledgee may choose which he will cause to be sold, unless there is a stipulation to the contrary. He may demand the sale of only as many of the things as are necessary for the payment of the debt. (n) ARTICLE 2120. If a third party secures an obligation by pledging his own movable property under the provisions of article 2085 he shall have the same rights as a guarantor under articles 2066 to 2070, and articles 2077 to 2081. He is not prejudiced by any waiver of defense by the principal obligor. (n)

Source: lawphil.net (RA 386 as amended)

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