Page 502 - Important Provisions of The New Civil Code
P. 502

Article 2140. By a chattel mortgage, personal


        property  is  recorded  in  the  Chattel Mortgage



        Register as a security for the performance of an


        obligation.  If  the  movable,  instead  of  being


        recorded, is delivered to the creditor or a third



        person,  the  contract  is  a  pledge  and  not  a


        chattel mortgage. (n)
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