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Olizon vs. Court Of Appeals

ARMANDO S. OLIZON and ILUMINADA C. OLIZON, * petitioners, vs. COURT OF APPEALS and PRUDENTIAL BANK, respondents.

G.R. No. 107075 | 1994-09-01

D E C I S I O N

REGALADO, J.:

The factual alpha of the present dispute was sometime in 1967 when the spouses Armando and Iluminada Olizon obtained a loan from respondent Prudential Bank in the amount of P25,000.00 and, as security therefor, they executed in favor of respondent bank a real estate mortgage over a parcel of land consisting of 1,000 square meters located at Barrio Calaanan, Kalookan City and registered in their names under Transfer Certificate of Title No. 24604 of the Registry of Deeds of Kalookan City. Unfortunately, that transaction spawned the succeeding events hereunder chronologically narrated, eventuating in this appeal...