Back

Philippine National Bank Vs. Umberto De Poli, Et Al. 044 Phil 763

PHILIPPINE NATIONAL BANK, plaintiff-appellee, vs. UMBERTO DE POLI and WISE & CO., defendants-appellants.

G.R. No. 19026 | 1923-04-03

D E C I S I O N


AVANCEá'A, J .:

In a document (Exhibit A) dated October 22, 1920, and duly registered, Umberto de Poli mortgaged the properties therein described to the Philippine National Bank as security for a loan, credit or overdraft not exceeding P650,000.

Later, on November 15, 1920, in another document also dully registered (Exhibit B), Umberto de Poli and the Philippine National Bank agreed to release some of the properties from the mortgage and replace them with other properties which were described in the latter document.

Umberto de Poli having violated the conditions of the mortgage, the Philippine National Bank, on...