Major Codes1 min read
Article 2112Pledge
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The creditor to whom the credit has not been
satisfied in due time, may proceed before a Notary Public
to the sale of the thing pledged. This sale shall be made
at a public auction, and with notification to the debtor
and the owner of the thing pledged in a proper case,
stating the amount for which the public sale is to be held.
If at the first auction the thing is not sold, a second one
with the same formalities shall be held; and if at the
second auction there is no sale either, the creditor may
appropriate the thing pledged. In this case he shall be
obliged to give an acquittance for his entire claim. (1872a)
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