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Espinoza vs. United Overseas Bank

GREGORIO ESPINOZA, IN HIS OWN PERSONAL CAPACITY AND AS SURVIVING SPOUSE,AND JO ANNE G. ESPINOZA, HEREIN REPRESENTED BY THEIR ATTORNEY-IN-FACT, BEN SANGIL, PETITIONERS, V E R S U S UNITED OVERSEAS BANK PHILS. (FORMERLY WESTMONT BANK), RESPONDENT

G.R. No. 175380 | 2010-03-22

D E C I S I O N


CORONA, J.:

This is a petition for review on certiorari[1] of the November 9, 2006 decision[2] of the Court of Appeals (CA) in CA-G.R. SP No. 62250.

On March 24, 1996, Firematic Philippines was granted a credit line by respondent United Overseas Bank (then known as Westmont Bank). As security, petitioners Gregorio Espinoza and the late Joji Gador Espinoza (spouses Espinoza) executed a third-party mortgage in favor of respondent over four parcels of land, one of which was covered by Transfer Certificate of Title (TCT) No. 197553 of the Registry of Deeds of Caloocan City. Through its credit line, Firematic obtained...