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Bachrach Motor Co., vs. Icarangal

BACHRACH MOTOR CO., INC., plaintiff-appellant, vs. ESTEBAN ICARANGAL and ORIENTAL COMMERCIAL CO., INC., defendants-appellees.

G.R. No. 40350 | 1939-05-29

D E C I S I O N

MORAN, J:

On June 11, 1930, defendant herein, Esteban Icarañgal, with one Jacinto Figueroa, for value received, executed in favor of the plaintiff, Bachrach Motor Co., Inc., a promissory vote for one thousand six hundred fourteen pesos (P1,614), and in security for its payment, said Esteban Icarañgal executed a real estate mortgage on a parcel of land in Pañgil, Laguna, which was duly registered on August 5, 1931, in the registry of deeds of the Province of Laguna. Thereafter, promissors defaulted in the payment of the agreed monthly installments; wherefore, plaintiff instituted in the Court of First Instance of Manila an...