Civil Code Art. 1953: Simple Loan or Mutuum

Statute: Civil Code
Article: Art. 1953
Topic: Simple Loan or Mutuum
Status: In force
Book: BOOK IV Obligations and Contracts
Title: TITLE XI LOAN General Provisions
Chapter: CHAPTER 2 Simple Loan or Mutuum
Formerly: Art. 1753a of the old Civil Code
Year: 1949
Cited by: A Supreme Court decision

The provision

A person who receives a loan of money or any other fungible thing acquires the ownership thereof, and is bound to pay to the creditor an equal amount of the same kind and quality. (1753a)

Intellegal Wiki · In plain terms

Someone who borrows money or another consumable/fungible thing actually becomes its owner, not just a holder. In return, the borrower must repay the creditor an equal amount of the same kind and quality — not the identical items received.

An editorially maintained plain-language explanation of this provision — not legal advice.

Cases applying this article

Dr. Macario Q. Falcon v. The Honorable Intermediate Appellate Court G.R. No. 74049

Related provisions in this Chapter

Civil Code, Art. 1955 Simple Loan or Mutuum
Civil Code, Art. 1956 Simple Loan or Mutuum
Civil Code, Art. 1957 Simple Loan or Mutuum
Civil Code, Art. 1958 Simple Loan or Mutuum
Civil Code, Art. 1959 Simple Loan or Mutuum

Civil Code, Art. 1953 is found in CHAPTER 2 Simple Loan or Mutuum of TITLE XI LOAN General Provisions of BOOK IV Obligations and Contracts of the Civil Code of the Philippines (Republic Act No. 386).

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Reviewed by the Intellegal Legal Team for currency against amending laws and Supreme Court jurisprudence.

Research aid — not legal advice. Verify the current text against the Official Gazette. Provisions may have been amended or repealed. Using this page creates no attorney-client relationship. For legal advice, consult a Philippine lawyer.