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Natividad P. Aragon vs. Court of Appeals, et al.

NATIVIDAD P. ARAGON, as represented by her Attorney-in-fact, MODESTO O. ARAGON, petitioner, vs. THE HONORABLE COURT OF APPEALS, and the MANILA BANKING CORPORATION, respondents.

G.R. No. 124333 | 1997-03-26

D E C I S I O N


HERMOSISIMA, JR., J.:

Petitioner seeks to set aside the decision of the respondent Court of Appeals 1 in CA-G.R. CV No. 46691 which reversed the Decision dated January 31, 1994 rendered by the Regional Trial Court, Branch CIII, Quezon City in Civil Case No. Q-91-10200.

The antecedent facts are undisputed:

The MARENIR Development Corporation (MARENIR for brevity) obtained a P4,000,000.00 loan from the Manila Banking Corporation (MBC for brevity) and executed in the latter's favor a real estate mortgage over its subdivision lots with Transfer Certificate of Title Nos. 271128, 271129, 271130, 271131 and 271132. The real...