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Credit transaction-reviewer
University San Beda College of Law
Manuel S. Enverga University Foundation 182
Course
Accountancy (03)
Academic year
CREDIT TRANSACTIONS
2019/2020
CREDIT TRANSACTIONS
 All transactions involving the
Helpful? purchase or loan of goods, services,
or money in the present with a
45 0 promise to pay or deliver in the
future
Comments Contracts of security
Types:
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1. Secured transactions or contracts of
real security - supported by a
Students also viewed collateral or an encumbrance of
property
Intermediate Accounting - Midterms 2. Unsecured transactions or contracts
of personal security - supported only
Strategic Management by a promise or personal
commitment of another such as a
Chapter 3 - Receivables guarantor or surety
Chapter 1 Internal Auditing History Evolu… Security
 Something given, deposited, or
Ch 15 partnerships formation operation …
serving as a means to ensure
fulfilment or enforcement of an
Inbound 3918944365467647461
obligation or of protecting some
interest in property
Other related documents  Types of Security
a. personal – when an individual
Title IX (Merger and Consolidation) becomes surety or guarantor
b. real or property – when a
CFAS05 - Partnership Formation mortgage, pledge, antichresis,
charge or lien or other device
CFAS07 Partnership Dissolution and Liq…
used to have property held, out
of which the person to be made
Statistics-and-Probability G11 Quarter 4…
secure can be compensated
1 out of 34 for
loss
3 Statistics-and-Probability G11 Quarter…
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MEMORY AID IN CIVIL LAW
LOAN (Articles 1933 – 1961)
 A contract wherein one of the
parties delivers to another, either
something not consumable so that
the latter may use the same for a
certain time and return it or money
or other consumable thing, upon the
condition that the same amount of
the same kind and quality shall be
paid. (Art 1933)
Characteristics:
1. Real Contract – delivery of the thing
loaned is necessary for the
perfection of the contract
NOTE: An accepted promise to make
a future loan is a consensual
contract, and therefore binding upon
the parties but it is only after
delivery, will the real contract of
loan arise. (Art 1934)
2. Unilateral Contract - once the
subject matter has been delivered,
it creates obligations on the part of
only one of the parties (i.e.
borrower).
 Kinds:
1. Commodatum – when the bailor
(lender) delivers to the bailee
(borrower) a non-consumable thing
so that the latter may use it for a
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certain time and return the identical
thing.