Country: Philippines

Business Law

1. D borrowed P30,000.00 from C. To secure the debt, D pledged his ring, wristwatch, and necklace. Before the debt could be paid, C died leaving X, Y and Z as heirs. By agreement among the heirs who inherited the credit, the ring would secure the share of X of the credit, the wristwatch the share of Y, a necklace the share of Z. Later, D pays X P10,000.00. Can D demand the extinguishment of the pledge of the ring?