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Ruiz, et al vs. Sheriff of Manila, et al

SPOUSES JESUS RUIZ and AMPARO SAMBENITO RUIZ, petitioners-appellants, vs. SHERIFF OF MANILA and THE BANK OF THE PHILIPPINE ISLANDS, respondents-appellees.

G.R. No. L-24016 | 1970-07-31

D E C I S I O N 


MAKALINTAL, J: 

This appeal from the decision of the Court of First Instance of Manila was taken originally to the Court of Appeals but was subsequently certified to this Court, there being no question of fact involved. 

On January 18, 1961 the spouses Jesus Ruiz and Amparo Sambenito Ruiz executed in favor of the Bank of the Philippine Islands a real estate mortgage covering a parcel of land situated in Sta. Ana, Manila, as security for a loan of P15,000.00 which they obtained from said bank. The mortgage contract provided, among other things, the following: 

"WHEREAS, the parties of the FIRST PART,...