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Banco De Oro Universal Bank vs. The Hon. Court of Appeals, et al.

BANCO DE ORO UNIVERSAL BANK, Petitioner, versus THE HON. COURT OF APPEALS and SPS. GABRIEL G. LOCSIN and MA. GERALDINE R. LOCSIN, Respondents.

G.R. No. 160354 | 2005-08-25

THIRD DIVISION

D E C I S I O N 

CARPIO MORALES, J.: 

Subject of the present Petition for Review is the Court of Appeals June 5, 2003 Decision[1] annulling and setting aside the Orders[2] of the Regional Trial Court (RTC) of Mandaluyong denying respondents spouses Gabriel and Ma. Geraldine Locsin's Motion to Dismiss the complaint of petitioner, Banco de Oro Universal Bank. 

The following antecedent facts are not disputed: 


On September 28, 1995, respondents Locsins entered into a Term Loan Agreement (TLA) with petitioner under which they obtained a loan of P700,000.00 which was secured by a Real Estate Mortgage of their...