Text of the provision
Art. 2118. If a credit which has been pledged becomes due before it is redeemed, the pledgee may collect and receive the amount due. He shall apply the same to the payment of his claim, and deliver the surplus, should there be any, to the pledgor.
(n)
Civil Code of the Philippines, Republic Act No. 386, approved June 18, 1949, effective August 30, 1950. Reproduced in full; verified verbatim against the LawPhil and ChanRobles official-text renderings.
What this article means
If a pledged credit matures before redemption, the pledgee may collect it, apply it to his claim, and deliver any surplus to the pledgor.
Related provisions
- Article 2117 — Third Person's Right to Satisfy the Debt.
- Article 2121 — Pledges by Operation of Law.
Cases citing this article
- Citibank, N.A. (Formerly First National City Bank) vs. Modesta R. Sabeniano, G.R. No. 156132, October 12, 2006 — read the decision on LawPhil →
Compiled automatically from Supreme Court decisions published on LawPhil that expressly cite this article, most frequently cited first. A listing means the decision cites the provision — it is not a statement that the case is the leading authority, and it does not show whether a ruling has since been modified or abandoned. Always read the decision itself.