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Spouses Benjamin And Agrifina Sim vs. M.B. Finance Corporation.

SPOUSES BENJAMIN AND AGRIFINA SIM, Petitioners, versus M.B. FINANCE CORPORATION, Respondent.

G.R. No. 164300 | 2006-11-29

THIRD DIVISION
 
D E C I S I O N 
 
CARPIO MORALES, J.: 
 
On August 1, 1997, spouses Benjamin and Agrifina Sim (petitioners) purchased on installment basis a motor vehicle from Angus Motors Corporation (Angus), more particularly described as follows: 
 
Make : Nissan Terrano Gasoline 
Motor No.: Z24-972004Y 
Serial No.: WNLYD21-G01634 
Year Model: 1997 
 
Petitioners thus executed a promissory note[1] in favor of Angus in the amount of P1,105,344 to be paid in 36 consecutive monthly installments of P30,704, due and demandable on the first day of each month starting on September 1, 1997 until...