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Medina vs. Philippine National Bank

MARIA LUISA MEDINA, CARMEN MEDINA, EDUARDO ATIENZA and VICENTE VELEZ, plaintiffs-appellants, vs. THE PHILIPPINE NATIONAL BANK, defendant-appellee.

G.R. No. 34294 | 1932-03-19

D E C I S I O N


AVANCEá'A, C.J:

On October 30, 1920 the Manila Commercial Co. and La Yebana Co. mortgaged four parcels of land with Torrens titles, described in the complaint, to the Philippine National Bank, the first and fourth parcels being in the name of the Manila Commercial Co. The mortgage was given to secure the payment of P680,000 or for whatever amount the Manila Commercial Co. might be indebted to the Philippine National Bank. One of the clauses of the mortgage provides that in case of a violation by the Manila Commercial Co. of any of the conditions of the contract, the Philippine National Bank may take possession of the...