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8 Terms
1
what is a commodatum
a commodatum is a form of loan wherein the bailee delivers to the bailee a non-consumable thing so that the latter may s use it for a certain time and return the identical thing
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2
what is a mutuum
a mutuum is a form of loan wherein the lender delivers to the borrower money or other consumable thing upon the condition that the latter shall return the same amount of the same kind and quality
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3
what is a precarium
a precarium is a form of commodatum wherein the return of the thing can be demanded by the owner at anytime
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4
what is the current lega interest
as provided for in the Usury Law, the legal interest is 6%
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5
action in personam
one which is directed against a particular person/s and seeks relief which would only be binding upon such particular person/s
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6
action in rem
one which is not directed against a particular person but on the thing or res itself, and which asks the court to make a declaration of or to dispose of a or deal with the res.
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7
action in quasi in rem
one which is directed against articular persons but seeks to reach and dispose of or deal with their personal or real property located in the Philippines.
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Flashcard (21)