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Luzon Lumber & Hardware Co. Inc. Vs. Manuel Quiambao, Et Al. 094 Phil 663

LUZON LUMBER and HARDWARE COMPANY, INC., plaintiff-appellee, vs. MANUEL QUIAMBAO, VIRGINIA SANTIAGO, AND REHABILITATION FINANCE CORPORATION, defendants. REHABILITATION FINANCE CORPORATION, defendant and appellant.

G.R. No. L-5638 | 1954-03-30

D E C I S I O N


MONTEMAYOR, J.:

Manuel Quiambao and his wife Virginia Santiago, owners of three lots in the province of Tarlac covered by Certificates of Title Nos. 22607, 4217 and 4218, mortgaged the said lots on July 20, 1948, in favor of the Rehabilitation Finance Corporation (RFC) to secure the payment of a loan in the amount of P37,000 which sum was to be spent for the construction of two buildings, - one for a hotel and the other for residence. The mortgage was registered on September 13th of the same year. The two buildings were subsequently constructed on the lot covered by Certificate of Title No. 22607. Upon violation of the...