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Pedro Manigque, Et Al. vs. Ceferino F. Cayco, Et Al.122 Phil. 693

PEDRO MANIGQUE, ET AL., plaintiffs-appellants, vs. CEFERINO F. CAYCO, ET AL., defendants-appellants.

G.R. No. L-17059 | 1965-11-29

D E C I S I O N 


BAUTISTA ANGELO, J.: 

Sometime on April 21, 1952, plaintiffs obtained a loan of P15,000.00 from defendants giving as security therefor a second mortgage on a parcel of land, together with a house built thereon, situated at Quezon City. The first mortgage was executed in favor of the Rehabilitation Finance Corporation, now the Development Bank of the Philippines, to secure the payment of a loan which plaintiffs had previously obtained from said bank. 

On June 1, 1953, plaintiffs executed in favor of defendants a deed of absolute sale of the same property in consideration of the sum of P18,000.00, plus the...