Civil Law, 2013 Bar — Question VI-A

ESSAY

Lito obtained a loan of P1,000,000 from Ferdie, payable within one year. To secure payment, Lito executed a chattel mortgage on a Toyota Avanza and a real estate mortgage on a 200-square meter piece of property. Would it be legally significant—from the point of view of validity and enforceability—if the loan and the mortgages were in public or private instruments?

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