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Development Bank of the Philippines vs. Rufo Tomeldan

DEVELOPMENT BANK OF THE PHILIPPINES, petitioner, vs. SPOUSES RUFO TOMELDAN and SOLEDAD CASTELO, SPOUSES PEDRO TOMELDAN and MAGDALENA CABURIAN, SPOUSES FERNANDO GABRIANA and CATALINA TOMELDAN, GERARDO TOMELDAN, AND THE COURT OF FIRST INSTANCE OF PANGASINAN, respondents.

G.R. No. 51269 | 1980-11-17

D E C I S I O N


ABAD SANTOS, J.:

This is a certiorari petition to set aside the Order, dated November 7, 1978, of the respondent judge which dismissed Civil Case No. D-3888 of the Court of First Instance of Pangasinan Branch VIII, Dagupan City, on the ground that the cause of action has prescribed.

The facts, in brief, are: The Development Bank of the Philippines (DBP) loaned to the private respondents on June 23, 1963, a sum of money which they promised to pay jointly and severally. The obligation was secured by a real estate mortgage which was extra-judicially foreclosed when the borrowers failed to pay the loan. There was a...