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Phil. National Bank vs CA, et al.

PHILIPPINE NATIONAL BANK, petitioner, vs. COURT OF APPEALS, MARIA AMOR BASCOS and MARCIANO BASCOS, respondents.

G.R. No. 109563 | 1996-07-09

MENDOZA, J.:


This is a petition seeking review of the decision dated August 10, 1992, 1 of the Eighth Division of the Court of Appeals and its resolution dated March 25, 1993, 2 both rendered in CA-G.R. CV No. 27653, which affirmed the decision of the Regional Trial Court (RTC) of San Jose City (Branch 38).

The facts are as follows:

On June 4, 1979, private respondent spouses Maria Amor and Marciano Bascos obtained a loan from the Philippine National Bank in the amount of P15,000.00 evidenced by a promissory note and secured by a real estate mortgage.

The promissory note contained the following stipulation: 3

For value received,...