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Republic of the Phil. vs. Guanzon

REPUBLIC OF THE PHILIPPINES, plaintiff-appellant, vs. EMILIO G. GUANZON, defendant-appellee.

G.R. No. L-22374 | 1974-12-18

D E C I S I O N

FERNANDO, J:

A lower court decision, which on its face ignores the controlling statute as well as the applicable doctrines of this Court, is appealed by the Republic of the Philippines. It filed an action for the foreclosure of certain real estate and chattel mortgages executed by defendant Emilio G. Guanzon, now appellee, in favor of the former Bank of Taiwan, Ltd., as security for the payment of the loans obtained by him from said bank. The amount involved is P3,722.13, representing the principal and interest as of September 30, 1961, with an additional sum equivalent to ten percent of the total indebtedness as...