IN PLEDGE, BID MUST BE FOR CASH
Category: Obligations and Contracts
IN PLEDGE, BID MUST BE FOR CASH
Art. 2114. All bids at the public auction shall offer to pay the purchase price at once. If any other bid is accepted, the pledgee is deemed to have been received the purchase price, as far as the pledgor or owner is concerned. (n)
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IN PLEDGE, BID MUST BE FOR CASH
Category: Obligations and Contracts
IN PLEDGE, BID MUST BE FOR CASH
Art. 2114. All bids at the public auction shall offer to pay the purchase price at once. If any other bid is accepted, the pledgee is deemed to have been received the purchase price, as far as the pledgor or owner is concerned. (n)
Related Philippine Law Resources:
Newer Philippine Law Resources:
Additional Law Reading:
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