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Philippine National Bank vs. Intermediate Appellate Court, et al.

PHILIPPINE NATIONAL BANK, petitioner, vs. The HON. INTERMEDIATE APPELLATE COURT and SPOUSES FERMIN MAGLASANG and ANTONIA SEDIGO, respondents.

G.R. No. 75223 | 1990-03-14

D E C I S I O N


PARAS, J.:

This is a petition to review on certiorari the decision of the Intermediate Appellate Court, * now Court of Appeals, rendered in AC-G.R. CV No. 07678 modifying the decision of the Regional Trial Court of Ormoc City.

The factual background of this case is as follows:

The petitioner, a government banking institution, extended financial assistance to the private respondents in the form of loans, the total amount of which is P82,682.39 as embodied in the promissory notes that the latter have executed on various dates from February 5, 1976 to May 18, 1979, the payment of which to come from the proceeds of sugar...