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Annabelle Dela Pena, et al. Vs. The Court of Appeals, et al.

ANNABELLE DELA PE?A and ADRIAN VILLAREAL, Petitioners, versus THE COURT OF APPEALS and RURAL BANK OF BOLINAO, INC., Respondents.

G.R. No. 177828 | 2009-02-13

DECISION


NACHURA, J.:

This petition for review on certiorari filed by petitioners Annabelle dela Peña and Adrian Villareal (petitioners) seeks to nullify and set aside the October 31, 2006 Decision[1] and May 8, 2007 Resolution[2] of the Court of Appeals (CA) in CA-G.R. SP No. 91338.

On October 20, 1983, respondent Rural Bank of Bolinao, Inc. (respondent) extended a loan of Eighty-One Thousand Pesos (P81,000.00) to petitioners. The loan was evidenced by a promissory note,[3] and was payable on or before October 14, 1984.

Petitioners failed to pay their obligation in full when it became due. Demands for payment[4] were made by...