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Joaquin Villegas, et al. Vs. Rural Bank of Tanay, Inc.

JOAQUIN VILLEGAS and EMMA M. VILLEGAS, Petitioners, versus RURAL BANK OF TANJAY, INC., Respondent.

G.R. No. 161407 | 2009-06-05

DECISION


NACHURA, J.:

This petition for review on certiorari under Rule 45 of the Rules of Court assails the Court of Appeals (CA) Decision[1] in CA-G.R. CV No. 40613 which affirmed with modification the Regional Trial Court (RTC) Decision in Civil Case No. 9570.[2]

The facts, as summarized by the CA, follow.

Sometime in June, 1982, [petitioners], spouses Joaquin and Emma Villegas, obtained an agricultural loan of P350,000.00 from [respondent] Rural Bank of Tanjay, Inc. The loan was secured by a real estate mortgage on [petitioners'] residential house and 5,229 - sq.m. lot situated in Barrio Bantayan, Dumaguete City and covered by TCT...