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Sps Orlando Rayos vs CA And Sps Miranda

SPOUSES ORLANDO A. RAYOS and MERCEDES T. RAYOS, petitioners, vs. THE COURT OF APPEALS and SPOUSES ROGELIO and VENUS MIRANDA, respondents.

G.R. No. 135528 | 2004-07-14

D E C I S I O N

CALLEJO, SR., J.:

This is a petition for review on certiorari of the Decision[1] of the Court of Appeals[2] in CA-G.R. CV No. 46727 which affirmed the Decision[3] of the Regional Trial Court of Makati, Branch 62, in Civil Case No. 15639 for specific performance and damages, and Civil Case No. 15984 for sum of money and damages.

The two (2) cases stemmed from the following antecedent facts:

On December 24, 1985, petitioner Orlando A. Rayos, a practicing lawyer, and his wife, petitioner Mercedes T. Rayos, secured a short-term loan from the Philippine Savings Bank (PSB) payable within a period of one (1) year in quarterly...