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Banzon vs. Cruz [DECISION]

ANTONIO R. BANZON and ROSA BALMACEDA, petitioners, vs. HON. FERNANDO CRUZ, Spouses PEDRO CARDENAS and LEONILA BALUYOT and ASSOCIATED INSURANCE & SURETY COMPANY, INC. represented by INSURANCE COMMISSIONER in her capacity as LIQUIDATOR OF ASSOCIATED INSURAN

G.R. No. L-31789 | 1972-06-29

D E C I S I O N
 
TEEHANKEE, J.:
 
An original action to enjoin respondent court from enforcing a writ of possession and order of demolition over one of two Caloocan City lots originally owned by petitioners-spouses pending the outcome of their suit for reconveyance of said lots from private respondents.
 
 
Sometime in 1952, Maximo Sta. Maria obtained crop loans from the Philippine National Bank (hereinafter referred to as the bank).  Respondent Associated Insurance & Surety Co., Inc. (hereinafter referred to as Associated) acted as surety of Sta. Maria, filing surety bonds in favor of the bank to answer for prompt...