- Statute
- Philippine Civil Code
- Article
- Art. 1934
- Topic
- Loan
- Status
- In force
- Book
- BOOK IV Obligations and Contracts
- Title
- TITLE XI LOAN General Provisions
- Year
- 1949
The provision
An accepted promise to deliver something by way of commodatum or simple loan is binding upon parties, but the commodatum or simple loan itself shall not be perfected until the delivery of the object of the contract. (n)
Intellegal Wiki · In plain terms
An accepted promise to hand over something as a commodatum (free loan of a thing to be returned) or a simple loan is binding on both sides. But the loan itself is not perfected until the object is actually delivered, so until then there is only an enforceable promise, not a completed loan.
An editorially maintained plain-language explanation of this provision — not legal advice.
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