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Philippine National Bank Vs. Court Of Appeals, Et Al.

PHILIPPINE NATIONAL BANK, petitioner, vs. FILEMON REMIGIO and the HON. COURT OF APPEALS, respondents.

G.R. No. 78508 | 1994-03-21

D E C I S I O N


VITUG, J.:

Questioned in this appeal instituted by petitioner Philippine National Bank is the decision, dated 05 May 1987, of the appellate court, which has reversed the decision of the then Court of First Instance ("CFI" and now Regional Trial Court) of Isabela, Branch 5, Echague, by ruling in favor of private respondent Filemon Remigio.

The facts, by and large, are undisputed. In chronology, the events leading to this appeal may be recited, thus:

(1) On 25 August 1967, private respondent obtained from petitioner a P65,000.00 loan secured by a real estate mortgage covering five (5) parcels of land in Isabela described...