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Southern Motors, Inc. vs. Angel Moscoso 112 Phil. 94

SOUTHERN MOTORS, INC., plaintiff-appellee, vs. ANGEL MOSCOSO, defendant-appellant.

G.R. No. L-14475 | 1961-05-30

D E C I S I O N

PAREDES, J.:

The case was submitted on agreed statement of facts. 

On June 6, 1957, plaintiff-appellee, Southern Motors, Inc. sold to defendant-appellant Angel Moscoso one Chevrolet truck, on installment basis, for P6,445.00. Upon making a down payment, the defendant executed a promissory note for the sum of P4,915.00, representing the unpaid balance of the purchase price (Annex A, complaint), to secure the payment of which, a chattel mortgage was constituted on the truck in favor of the plaintiff (Annex B). Of said account of P4,915.00, the defendant had paid a total of P550.00, which P110.00 was applied to the interest...