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A.Mirasol etal vs Intermediate Appellate Court etal

ALEJANDRO MIRASOL, and LILIA E. MIRASOL (spouses), petitioners, vs. INTERMEDIATE APPELLATE COURT, PHILIPPINE NATIONAL BANK, Bacolod Branch, and THE PROVINCIAL SHERIFF OF NEGROS OCCIDENTAL, respondents.

G.R. No. L-67588 | 1988-06-20

D E C I S I O N


GUTIERREZ, JR., J.:

This is a petition for review of the decision of the Intermediate Appellate Court affirming an order of the Regional Trial Court, Sixth Judicial Region, Branch XI, Silay City, Negros Occidental, directing the issuance of a writ of possession in favor of respondent Philippine National Bank (PNB).

On October 22, 1971, the petitioners and PNB entered into a contract of real estate mortgage as security for a loan to finance the agricultural sugar crop loans of the petitioners.

In the crop years of 1973-74 and 1974-75 the price of sugar rose to $90.45 per picul. In terms of pesos at the then average...