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pactum commisorium-Automatic appropriation by the creditor of the thing pledged or mortgaged upon the failure of the debtor to pay the principal
obligation.Elements:
(1) there should be a property mortgaged by way of security for the payment of the principal obligation, and
(2) there should be a stipulation for automatic appropriation by the creditor of the thing mortgaged in case of non-payment of the principal
obligation within the stipulated period.