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Inocencio H. Gonzales, et al. vs. Gov't Service Insurance System, et al.

SPOUSES INOCENCIO H. GONZALES and ROSARIO ESQUIVEL GONZALES, petitioners, vs. THE GOVERNMENT SERVICE INSURANCE SYSTEM thru GENERAL MANAGER ROMAN A. CRUZ, JR. and THE MANAGER, RESIDENTIAL LOANS DEPARTMENT, respondents.

G.R. No. L-51997 | 1981-09-10

D E C I S I O N


MELENCIO-HERRERA, J.:

We view this Petition as substantially one for Mandamus to compel the respondent Government Service Insurance System (GSIS) to accept 6% interest-bearing bonds issued by the Land Bank of the Philippines at their par or face value as payment for petitioners' outstanding housing loan.

On April 2, 1968, August 14, 1968 and November 7, 1968, petitioner-spouses Inocencio H. Gonzales and Rosario Esquivel Gonzales obtained a housing loan of P80,000.00 from the respondent GSIS. This was to be repayable within fifteen years at 6% interest per annum for the first P30,000.00 and 9% for the balance. GSIS...