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Spouses Pahang vs Vestil

SPOUSES ANTONIO S. PAHANG and LOLITA T. PAHANG, petitioners, vs. HON. AUGUSTINE A. VESTIL, Presiding Judge of Regional Trial Court- Branch 56, Mandaue City, DEPUTY SHERIFF, Regional Trial Court-Branch 56 and METROPOLITAN BANK and TRUST COMPANY, respondents.

G.R. No. 148595 | 2004-07-12

D E C I S I O N

CALLEJO, SR., J.:

Before us is a petition for review on certiorari filed by the Spouses Antonio and Lolita Pahang, for the nullification of the Decision[1] and Resolution[2] of the Court of Appeals in CA-G.R. SP No. 59157.

The Antecedents

On January 5, 1996, the petitioners, Spouses Antonio and Lolita Pahang, received a short-term loan of one million five hundred thousand pesos (P1,500,000.00) from the respondent Metropolitan Bank & Trust Company payable on December 27, 1996. The loan was covered by Non-Negotiable Promissory Note No. 190601[3] and was, likewise, secured by a real estate mortgage on a parcel of land covered...