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Pedro R. Jao, Et Al. vs. Royal Financing Corporation, Et Al. 114 Phil. 1152

PEDRO R. JAO and CATALINA SIA, plaintiffs-appellees, vs. ROYAL FINANCING CORPORATION, ET AL., defendants-appellees. ASSOCIATED INSURANCE & SURETY CO., INC., bondsman-appellant.

G.R. No. L-16716 | 1962-04-28

D E C I S I O N 


PAREDES, J.: 

On October 30, 1957, plaintiffs spouses Pedro R. Jao and Catalina Sia, signed a promissory note in favor of the defendant Royal Financing Corporation, guaranteed by a chattel mortgage, executed on October 31, 1957. On June 27, 1958, in accordance with the extra- judicial foreclosure of chattel mortgage filed by defendant corporation on June 25, 1958, the Sheriff of Manila, announced and advertised for sale the properties of plaintiff, which were the object of the chattel mortgage, the same to take place on July 11, 1958 at plaintiffs' premises in Manila. On July 7, 1958, plaintiffs filed a complaint...