Spouse Bacolor vs Banco Filipino Savings and Mortgage Bank
On February 11, 1982, spouses Zacarias and Catherine Bacolor, obtained a loan of P244,000.00 from Banco Filipino Savings and Mortgage Bank, Dagupan City Branch. They executed a promissory note providing that the amount shall be payable within a period of ten (10) years with a monthly amortization of P5,380.00 beginning March 11, 1982 and every 11th day of the month thereafter; that the interest rate shall be twenty-four percent (24%) per annum, with a penalties on any unpaid monthly amortization, charges per annum, and attorney's fees. As security for the loan, petitioners mortgaged with respondent bank their parcel of land located in Dagupan City, Pangasinan. From March 11, 1982 to July 10, 1991, petitioners paid respondent bank P412, 199.36. Thereafter, they failed to pay the remaining balance of the loan. Notice was sent and respondent bank informed petitioners that should they fail to pay their loan within fifteen (15) days from notice, appropriate action shall be taken against them. Due to petitioners' failure to settle their obligation, respondent instituted an action for extra-judicial foreclosure of mortgage.continue reading
Titan Construction Corporation vs Unifield Enterprise Inc.
Petitioner Titan Construction Corporation purchased various construction supplies and materials from respondent Unifield Enterprises on credit. Because of the nature of this transaction, the parties agreed to stipulate interest in case petitioner fails to pay. Petitioner was only able to pay P6,215,795.70 out of the total purchase price of P7,620,433.12. The balance remained unpaid despite demand. An action for collection of sum of money with damages was filed. Petitioner admitted purchase but disputed the amount and interposed a counterclaim. The trial court rendered judgment in favor of respondent, awarding the latter with liquidated damages and attorney’s fees,. The appeal to the Court of Appeals was dismissed. continue reading
Metro Manila Transit Corporation vs DM Consortium Inc.
After an alleged default in its amortizations, DMCI was informed by MMTC that it was taking immediate possession of all the bus units and accessories. President Corazon Aquino, due to coup de ‘etat issued Memorandum Order (MO) No. 267 on December 7, 1989 directing the Secretary of Transportation and Communication to temporarily take over the operations of DMCI. Under the MO, the DOTC Secretary was to recommend payment of “just compensation to the owner for the use of their buses and facilities. On December 9, 1989, MMTC repossessed and took steps to sell the repossessed buses at a public auction. Before the public bidding, however, DMCI filed a petition for injunction with prayer for the issuance of a temporary restraining order (TRO) and/or writ of preliminary injunction which was issued. The RTC ruled in favor of DMCI and awarded it two million for the appropriation. continue reading
Feliciano Esguerrs Et. Al. vs Virhinia Trinidad Et. Al
Laurena executed a pacto de retro sale in favor of Lim Ching of two parcels of land, However, Ireneo subsequently executed a deed of renunciation covering the same parcels of land wherein he waived his right to repurchase the same, thus vesting ownership and possession of the land to Lim Ching. Later, Ireneo filed with the Regional Trial Court (RTC), Maasin, Leyte a complaint for recovery of the two parcels of land against Lim Ching. Lim ching was ordered to return the two parcels of land to Ireneo. On appeal, the Court of Appeals reversed the decision and the same decision became final and executor. Upon his death, his heirs, including Atty. Jose Lim, representing the estate of Lim Ching, herein petitioner, inherited the land. After 57 years, Ireneo’s heirs, herein respondents Florencia Bacala, Dolores L. Mendoza, Juanita Alvarez, and Apolinario Laurena, took possession of the property without the consent of Lim Ching’s heirs. After demand to vacate unheeded, petitioner filed with the RTC a complaint for quieting of title with prayer for a writ of preliminary injunction against respondents who countered and pleaded petitioner’s lack of cause of action. The RTC issued an Order approving the Commissioner’s Report stating that the land being claimed by petitioner is also the same property being claimed by respondents. Upon motion, RTC issued an Order granting the motion for summary judgment and submitting the case for resolution and rendered decision in favor of petitioner. continue reading
Sps Peblia Alfaro and Prosperus Alfaro vs Court of Appeals.
Respondents Bagano filed a complaint against Spouses Peblia and Prosperous Alfaro petitioners for Declaration of Nullity of Sale with Damages and Preliminary Injunction before the Regional Trial Court (RTC) of Cebu City alleging that they were the previous registered owners of a particular parcel of land located at San Roque, Talisay, Cebu. On 22 June 1994, respondents executed a Real Estate Mortgage over the lot in favor of petitioners to secure payment of an obligation in the amount of P180,000.00. Upon payment of the mortgage debt, a Cancellation and Discharge of Mortgage was executed but petitioners refused to vacate the said property and they discovered that their TCT has already been cancelled and a new one has already been issued in the name of the petitioners pursuant to a forged Deed of Sale. continue reading
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