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Ravelo, Pedro S. , et al. Vs. Court of Appeals, et al.

PEDRO S. RAVELO and CARMEN TAN RAVELO, petitioners, vs. COURT OF APPEALS and RURAL BANK OF SALINAS, INC., respondents.

G.R. No. L-40111 | 1983-10-27

D E C I S I O N


AQUINO, J.:

The Rural Bank of Salinas, Inc. on February 17, 1969 filed an action to foreclose a mortgage on two lots with an area of 1,923 square meters located at San Fernando, Pampanga which the spouses Pedro S. Ravelo and Carmen Tan executed on February 9, 1967 as security for a loan of P16,000 maturing after 270 days.

The Ravelo spouses pleaded that suit was premature because they had made representations to the bank that they be allowed to sell the lots in order to pay the mortgage debt.

The Ravelos and their counsel did not appear at the "initial hearing" scheduled on September 19, 1969. Instead, they caused to...