Art. 3157. Privilege and preference of pledge creditor.
The pawn invests the creditor with the right of causing his debt to be satisfied by privilege and in preference to the other creditors of his debtor, out of the product* of the movable, corporeal or incorporeal, which has been thus burdened.
*Note error in English translation of French text; "product" should be "proceeds."
Art. 3157. Privilege and preference of pledge creditor.
The pawn invests the creditor with the right of causing his debt to be satisfied by privilege and in preference to the other creditors of his debtor, out of the product* of the movable, corporeal or incorporeal, which has been thus burdened.
*Note error in English translation of French text; "product" should be "proceeds."
Art. 3157. Privilege and preference of pledge creditor.
The pawn invests the creditor with the right of causing his debt to be satisfied by privilege and in preference to the other creditors of his debtor, out of the product* of the movable, corporeal or incorporeal, which has been thus burdened.
*Note error in English translation of French text; "product" should be "proceeds."
