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Philippine National Bank Vs. Flaviano Lopez Vito, Et Al. 052 Phil 41

PHILIPPINE NATIONAL BANK, plaintiff-appellant, vs. FLAVIANO LOPEZ VITO and his wife MAXIMINA DEL CASTILLO and THE NORTH NEGROS SUGAR CO., INC., defendants-appellees.

G.R. No. 28884 | 1928-09-08

D E C I S I O N


VILLAMOR, J.:

This action was brought for the recovery of a mortgage credit. On July 25,1918, the defendant spouses mortgaged certain realty located in the Province of Occidental Negros to secure the payment of a loan of P24,000 granted to them by the plaintiff, the Philippine National Bank. The mortgage deed was recorded in the office of the registrar of deeds of the province on July 26th of the same year.
By the terms of the mortgage contract the defendant spouses bound themselves to pay plaintiff P24,000 plus interest thereon at 8 per cent per annum, in ten annual installments of P3,602.64 each, payable on or before...