Major Codes1 min read
Article 2115Pledge
Personal notes Saved on this device
0 / 5,000 charactersReport page issue
Answer First
Primary Text
The sale of the thing pledged shall
extinguish the principal obligation, whether or not the
proceeds of the sale are equal to the amount of the
principal obligation, interest and expenses in a proper
case. If the price of the sale is more than said amount, the
debtor shall not be entitled to the excess, unless it is
otherwise agreed. If the price of the sale is less, neither
shall the creditor be entitled to recover the deficiency,
notwithstanding any stipulation to the contrary. (n)
Use With Care
Definitions and exceptions often appear before or after this text.
Court decisions may interpret, limit, or apply this provision.
Confirm amendment, repeal, effectivity, and official publication.
Plain Language