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Rutter vs. Esteban 093 Phil 68

ROYAL L. RUTTER, plaintiff-appellant, vs. PLACIDO J. ESTEBAN, defendant-appellee.

G.R. No. L-3708 | 1953-05-18

D E C I S I O N


BAUTISTA ANGELO, J.:

On August 20, 1941, Royal L. Rutter sold to Placido J. Esteban two parcels of land situated in the City of Manila for the sum of P9,600 of which P4,800 were paid outright, and the balance of P4,800 was made payable as follows: P2,400 on or before August 7, 1942, and P2,400 on or before August 27, 1943, with interest at the rate of 7 per cent per annum.

To secure the payment of said balance of P4,800, a first mortgage over the same parcels of land has been constituted in favor of the plaintiff. The deed of sale having been registered, a new title was issued in favor of Placido J. Esteban with the mortgage...