Text of the provision
Art. 2122. A thing under a pledge by operation of law may be sold only after demand of the amount for which the thing is retained. The public auction shall take place within one month after such demand. If, without just grounds, the creditor does not cause the public sale to be held within such period, the debtor may require the return of the thing.
(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
A thing under a legal pledge may be sold only after demand, at public auction within one month; failing that without just grounds, the debtor may require its return.
Related provisions
- Article 2121 — Pledges by Operation of Law.
- Article 2123 — Pawnshops.
Cases interpreting this article
- Authorities on this article will be added here as each is verified against primary sources.
Note. The text of the provision above is reproduced in full from the official enactment (Republic Act No. 386), verified against the LawPhil and ChanRobles renderings. The annotation and commentary around it are the work of Vivas & Nobles Law Office and are general legal information, not legal advice. How a provision applies to a particular situation depends on facts that only a lawyer reviewing your case can assess.