Page 477 - Important Provisions of The New Civil Code

Article 1947. The bailor may demand the thing

at will, and the contractual relation is called a

precarium, in the following cases:

(1) If neither the duration of the contract nor

the use to which the thing loaned should be

devoted, has been stipulated; or

(2) If the use of the thing is merely tolerated

by the owner. (1750a)

Article 1953. A person who receives a loan of

money or any other fungible thing acquires the

ownership thereof, and is bound to pay to the

creditor an equal amount of the same kind and

quality. (1753a)

Article 1956. No interest shall be due unless it

has been expressly stipulated in writing.