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Teofisto Verceles, etal. Vs. Court of Rizal etal.

SPOUSES TEOFISTO VERCELES AND EULALIA VERCELES, petitioners, vs. COURT OF FIRST INSTANCE OF RIZAL (BRANCH XV-PASIG), BANCO DE ORO SAVINGS & MORTGAGE BANK AND THE SHERIFF OF RIZAL &/OR DEPUTY SHERIFF RENATO C. FLORA, respondents.

G.R. No. 62219 | 1989-02-28

D E C I S I O N


GANCAYCO, J.:

Respondents describe the petitioners' theory in this petition for certiorari to be like the man who proclaimed authoritatively before a group that "there is no God" but conveniently omitted the phrase "said the devil." 1 There appears to be a cogent basis in the comparison.

On March 20, 1979, petitioners obtained a loan of P250,000.00 from respondent bank secured by a mortgage covering a parcel of land and improvements thereon located in Pasig, Metro Manila belonging to petitioners as evidenced by Transfer Certificate of Title No. 278951 of the Registry of Deeds for Rizal. Upon failure of the petitioners...