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Traders Royal Bank vs. Spouses Castañares

TRADERS ROYAL BANK, Petitioner,vs. NORBERTO CASTAÑARES and MILAGROS CASTAÑARES, Respondents.

G.R. No. 172020 | 2010-12-06

THIRD DIVISION
D E C I S I O N
 
VILLARAMA, JR., J.:
 
Assailed in this petition for review under Rule 45 of the 1997 Rules of Civil Procedure, as amended, is the Decision1 dated January 11, 2006 of the Court of Appeals (CA) in CA-G.R. CV No. 67257 which reversed the Joint Decision2 dated August 26, 1998 of the Regional Trial Court (RTC) of Cebu City, Branch 13 in Civil Case Nos. R-22608 and CEB-112.
 
The Facts
 
Respondent-spouses Norberto and Milagros Castañares are engaged in the business of exporting shell crafts and other handicrafts. Between 1977 and 1978, respondents obtained from petitioner Traders Royal Bank...