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Alpha Insurance and Surety Co. vs. Esperanza C. Reyes, et al.

ALPHA INSURANCE AND SURETY CO., INC., plaintiff-appellant, vs. ESPERANZA C. REYES, ARTURO R. REYES and DEVELOPMENT BANK OF THE PHILIPPINES, defendants-appellees.

G.R. No. L-26274 | 1981-07-31

D E C I S I O N


BARREDO, J.:

An appeal from the decision of the Court of First Instance of Manila in Civil Case No. 49980, Alpha Insurance and Surety Co., Inc. vs. Esperanza C. Reyes, et al., certified by the Court of Appeals to this Court for the reason that the sole assignment of error of appellant raises purely a legal question.

The following facts are undisputed:

The spouses Esperanza C. Reyes and Arturo R. Reyes executed on November 15, 1958 in favor of Alpha Insurance and Surety Co., Inc. a second mortgage over their two parcels of land (with a total area of 540 square meters) and the buildings thereon, located at Makati, Rizal,...