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UNITED COCONUT PLANTERS BANK, petitioner, vs. TEOFILO C. RAMOS

UNITED COCONUT PLANTERS BANK, petitioner, vs. TEOFILO C. RAMOS, respondent.

G.R. No. 147800 | 2003-11-11

D E C I S I O N

CALLEJO, SR., J.:

Before us is a petition for review on certiorari of the March 30, 2001 Decision[1] of the Court of Appeals in CA-G.R. CV No. 56737 which affirmed the Decision[2] of the Regional Trial Court (RTC) of Makati City, Branch 148, in Civil Case No. 94-1822.

The Antecedents

On December 22, 1983, the petitioner United Coconut Planters Bank (UCPB) granted a loan of P2,800,000 to Zamboanga Development Corporation (ZDC) with Venicio Ramos and the Spouses Teofilo Ramos, Sr. and Amelita Ramos as sureties. Teofilo Ramos, Sr. was the Executive Officer of the Iglesia ni Cristo. In March 1984, the petitioner granted an...