Back

TIRSO GARCIA vs. ARSENIA ENRIQUEZ

TIRSO GARCIA, as receiver of the Mercantile Bank of China, plaintiff-appellee, vs. ARSENIA ENRIQUEZ, defendant-appellant.

G.R. No. 47461 | 1941-04-08

D E C I S I O N

MORAN, J p:

On December 4, 1934, plaintiff, the Mercantile Bank China, then a banking corporation organized and existing under the laws of the Philippine Islands, filed a complaint in the Court of First Instance of Manila for the foreclosure of the mortgage executed in its favor by the defendant Arsenia Enriquez. The mortgage in part recites:

"Whereas, the mortgagor (Arsenia Enriquez) has heretofore made application unto the mortgagee for general credit facilities in the amount not to exceed P60,000 including the sum of P20,000 paid by the mortgagee to Albina los Santos as purchase price for the same amount held the...