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Epifanio J. Alano Vs. Claro Cortes

EPIFANIO J. ALANO and CECILIA PADING DE ALANO, plaintiffs and appellants, vs. CLARO CORTES, defendant and appellee.

G.R. No. L-15276 | 1960-11-28

D E C I S I O N


BAUTISTA ANGELO, J.:

On April 6, 1953, the spouses Epifanio J. Alano and Cecilia Pading de Alano executed a promissory note in consideration of a loan of P65,000.00 they obtained from Claro Cortes. As security for said loan, they mortgaged several parcels of land owned by them situated in Bulacan empowering the mortgagee to extrajudicially foreclosed the mortgage. On January 29, 1954, Cortes foreclosed the mortgage and the properties were sold to him at an auction sale for the sum of P15,000.00. Subsequently, Cortes filed a complaint in the Court of First Instance of Rizal for the collection of the balance.
To avoid...