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Henry dela Rama Vs. Admiral United

HENRY DELA RAMA CO, Petitioner, versus ADMIRAL UNITED SAVINGS BANK, Respondent.

G.R. No. 154740 | 2008-04-16

DECISION


NACHURA, J.:

On appeal is the February 19, 2002 Decision[1] of the Court of Appeals (CA) in CA-G.R. CV No. 42167, setting aside the May 18, 1991 Decision[2] of the Regional Trial Court (RTC) of Quezon City, Branch 100, as well as its subsequent Resolution,[3] denying petitioner's motion for reconsideration.

On February 28, 1983, Admiral United Savings Bank (ADMIRAL) extended a loan of Five Hundred Thousand Pesos (P500,000.00) to petitioner Henry Dela Rama Co (Co), with Leocadio O. Isip (Isip) as co-maker. The loan was evidenced by Promissory Note No. A1-041[4] dated February 28, 1983 and payable on or before February 23,...