SAFEGUARDING AND ENFORCING CREDITORS RIGHTS
In the course of his employment as such, or by any
1 EXTRAJUDICIAL REMEDIES AVAILABLE BEFORE FILLING OF COURT
ACTION.
1 Unpaid Sellers Lien
ARTICLE 1527 Subject to the provisions of this title, the
unpaid seller of goods who is possession of them is entitled to
possession of them until payment or tender of the price.
ARTICLE 1528 - where an unpaid seller has made part
delivery of the goods.
ARTICLE 1529 The unpaid seller of goods loses his lien
thereon.
2 Right of Stoppage in Transitu
ARTICLE 1530 Subject to the provisions of this title. When
the buyer of goods is becomes insolvent the unpaid seller who
has parted with the possession of the goods has the right of
stopping them in transit .
ARTICLE 1531 Goods are in Transit within the meaning of
the preceding article. From time when they are delivered to a
carrier by land, water or air.
ARTICLE 1532 The unpaid seller may exercise his right of
stoppage in transit either by obtaining actual possession of the
goods or by giving notice of his claim to the carrier or other
bailee in whose possession the goods are.
ARTICLE 1533 where the goods are of perishable nature, or
where the seller expressly reserves the right of resale in case
the buyer should make default.
ARTICLE 1534 An unpaid seller having the right of the lien or
having stopped the goods in transit.
ARTICLE 1535 Subject to the provisions of this title the
unpaid sellers right of lien or stoppage in transit.
Mechanics Lien
Article 1729 those who put their labor upon or furnish materials for a
piece of work undertaken by the contract at the line the claims is made.
Reported by: JERVIN JAY JAPA
RULE 57-RULES OF COURT
ATTACHMENT OF PROPERTIES
SECTION 1- GROUNDS UPON WHICH ATTACHMENT MAY ISSUE
- A plaintiff or any proper party may, at the commencement of the action or
any time thereafter, have the property of the adverse party attached as
security for the satisfaction of any judgement that may be recovered in the
following cases:
a In an action for recovery of money or damages on a cause of action
arising from who is about to depart from the Philippines with the intent
to defraud his creditors.
b In an action for money or property embezzled or fraudulently
misapplied or converted to his own use by a public officer, or attorney,
broker or clerk.
other person in a fiduciary capacity, or wilful violation of duty.
c In an action to recover the possession of personal property or any part
thereof, has been concealed, removed or disposed of to prevent its
being found or taken by the applicant.
d In an action against a party who has been guilty of a fraud in
contracting the debt or incurring the obligation upon which the action is
brought, or in the performance thereof.
e In an action against party who removed or disposed of his property, or
is about to do so, with the intent to defraud his creditors
f In an action against a party who resides out of the Philippines or on
whom summons may be served by publication.
SECTION 2- ISSUANCE AND CONTENTS OF ORDER
- An order of attachment may be granted by the judge of any court in which
the action is pending, or by a Justice of the Court of Appeals or the Supreme
court, and must require the sheriff or other proper officer of the province to
attach all the property of the party as may be sufficient to satisfy the
applicants demand. Several orders may be issued at the same time to the
sheriffs or other proper officers of different provinces.
SECTION 3- AFFIDAVIT AND BOND REQUIRED
- An order of attachment shall be granted only when it is made to appear by
the affidavit of the applicant or some other person who personally knows the
facts. The affidavit and the bond required by the next succeeding section
must be duly filed with clerk or judge before the order issues.
SECTION 4- CONDITION OF APPLICANTS BOND
- The party applying for the order must give a bond executed to adverse party
in an amount to be fixed by the judge. Conditioned that the latter will pay all
the costs which may be adjudge to the adverse party and all damages he
may sustain.
FOR CREDITORS WITH SECURED RECEIVABLES
a File an ordinary collection
b Exercise any of the rights under Article 1484
Exact fulfilment of the obligation
Cancel the Sale
Foreclose the chattel mortgage
c File a REPLEVIN CASE
FOR CREDITORS WITH UNSECURED RECEIVABLES
a In case of load- File an simple collection
b Exercise any of the rights under Article 1484
Reported by: RASHEENA JALALAIN
FORECLOSURE THE MORTGAGE JUDICIALLY UNDER RULE 69 OF THE RULES
OF COURTS
SECTION 1: COMPLAINT IN ACTION FOR FORECLOSURE
In an action for the foreclosure of a mortgage or other encumbrance upon real estate,
the complaint shall set for the date of the note and due execution of the mortgage.
SECTION 2: JUDGEMENT ON FORECLOSURE FOR PAYMENT OR SALE
It shall ascertain the amount due to the plaintiff upon mortgage debt or obligation
including interest and cost.
SECTION 3: SALE OF MORTGAGE PROPERTY; EFFECT
Fails to pay the principal, interest and costs at the time directed in the order the court
shall order the property to be sold in the manner and under the regulations that
govern sales of real estate under execution.
SECTION 4: DISPOSITION OF PROCEEDS OF SALE
The money realized from the sale of mortgaged property under the regulations herein
before prescribed shall, after deducting the costs of sale be paid to the person
foreclosing the mortgage.
SECTION 5: HOW SALE TO PROCEED IN CASE
If the debt for which the mortgage or encumbrance was held is not all due, so soon as
sufficient of the property has been sold to been sold to pay the amount due with
costs the sale must cease..
SECTION 6: THE FINAL RECORDS
The final record in the action shall set forth in brief the petition and other pleadings,
judgement and orders, the name of the purchaser with a description of the property
by him purchased and the certificate of redemption, if any or the final deed of
conveyance executed in favor of the purchaser.
REMEDIES AFTER A JUDGEMENT HAS BECOME FINAL AND EXECUTORY
Under section 6 of rule 39 of the new rules of court there are two (2) methods by
which a judgement may be executed.
1 On motion within five (5) years from the date of its entry or from the date on
which it becomes final and executor.
2 After the lapse of five (5) years and before it is barred by the statute of
limitations, a judgement may be enforced by action.
REMEDIES OF JUDGEMENGT CREDITOR IF THE EXECUTION IS RETURNED
UNSATISFIED
a Ask for examination of judgement debtor.
b Ask for the examination of the debtor of the judgement debtor
c Enforce attendance of the debtor or debtor of the judgement debtor
Reported by: JONALYN GUBAT