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Rural Bank of Oroquieta vs. Court of Appeals

RURAL BANK OF OROQUIETA (MIS. OCC.), INC., petitioner, vs. COURT OF APPEALS, Eight Division; JUDGE MELECIO A. GENATO, Court of First Instance of Misamis Occidental, Oroquieta Branch I; PROCOPIO SERRANO and MARIA CUEME, respondents.

G.R. No. 53466 | 1980-11-10

D E C I S I O N


AQUINO, J.:

This case is about the mortgagor's equity of redemption in case of judicial foreclosure of a mortgage in favor of a rural bank.

In Civil Case No. 2988 of the Court of First Instance of Misamis occidental, Oroquieta City Branch I, entitled "Rural Bank of Oroquieta (Mis. Occ.), Inc. vs. Procopio Serrano and Maria Cueme", a case of foreclosure of mortgage, Judge Melecio A. Genato on July 3, 1974 rendered a decision, ordering the defendants to pay plaintiff bank within a period of "not less than ninety (90) days nor more than one hundred (100) days from" the receipt of the decision the loan of P1,500 with twelve...