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Joseph Typingco Vs. Lina Lim, Jerry Sychingco, et al.

JOSEPH TYPINGCO, Petitioner, versus LINA WONG LIM, JERRY SYCHINGHO, JACKSON SYCHINGHO, JOHNSON SYCHINGHO, and FAR EAST BANK AND TRUST COMPANY, Respondents

G.R. No. 181232 | 2009-10-23

D E C I S I O N


CARPIO MORALES, J.:

Sometime between December 1996 and February 1997, respondents-spouses Lina Wong Lim (Lina) and Johnson Sychingho (Johnson) borrowed from petitioner Joseph Typingco (Typingco) the sum of US$600,000 which was later restructured, payable on or before December 31, 1997, under a promissory note executed by the spouses and co-signed by their children-co-respondents Jerry Sychingho (Jerry) and Jackson Sychingho (Jackson) as sureties.[1]

Following their default in payment, Lina, Jerry, and Jackson conveyed on January 29, 1998 to Typingco via dacion en pago their house and lot in Greenhills, San Juan (subject...