- Statute
- Philippine Civil Code
- Article
- Art. 1955
- 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. 1754a of the old Civil Code
- Year
- 1949
- Cited by
- Multiple Supreme Court decisions
The provision
The obligation of a person who borrows money shall be governed by the provisions of articles 1249 and 1250 of this Code. If what was loaned is a fungible thing other than money, the debtor owes another thing of the same kind, quantity and quality, even if it should change in value. In case it is impossible to deliver the same kind, its value at the time of the perfection of the loan shall be paid. (1754a)
Intellegal Wiki · In plain terms
A person who borrows money must repay under the rules of articles 1249 and 1250 on how and in what currency payment is made. If instead the loan was of some other fungible (interchangeable) thing, the borrower returns an equal amount of the same kind, quantity, and quality even if its value has changed; and if delivering the same kind is impossible, its value at the time the loan was perfected is paid instead.
An editorially maintained plain-language explanation of this provision — not legal advice.
Cases applying this article
- Crispulo Sideco v. Francisco Pascua
- Benigno Catabian v. Francisco Tungcul
- Recoletos v. Crisostomo G.R. No. 10031