Practice question
Does mere custody of a private debt document necessarily transfer the creditor’s substantive right for 1275?
- No; custody and transfer of the credit are distinct.
- Yes; every messenger becomes owner of every credit.
- Only paper possession can ever establish legal succession.
- The debtor may choose the creditor by taking paper.
- Every debt becomes a public tax.
Legal references
- Civil Code Articles748,1236-1237,1270-1299 and1302: https://lawphil.net/statutes/repacts/ra1949/ra_386_1949.html
- RA11232 Section2, separate corporate entity: https://lawphil.net/statutes/repacts/ra2019/ra_11232_2019.html
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