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Investors Finance Corp. etal. Vs. Romeo Ebarle etal

INVESTORS' FINANCE CORPORATION, Doing Business Under The Name And Style "FNCB FINANCE," petitioner-appellant, vs. ROMEO EBARLE, HON. JOSE L. CASTIGADOR, Presiding Judge, RTC, Br. XXII, Pagadian City, The Deputy Provincial Sheriff of Zamboanga Del Sur, and the INTERMEDIATE APPELLATE COURT, respondents-appellees.

G.R. No. L-70640 | 1988-06-29

D E C I S I O N


SARMIENTO, J.:

This is a Petition for Review on Certiorari of the decision of the then respondent Intermediate Appellate Court ** sustaining the order of the trial court. ***

These are the facts:

On January 7, 1980, in Ozamis City, Flaviano Fucoy, Jr., for value received, executed a promissory note 1 in favor of Lido Motor Sales Ozamis in the amount of P56,976.00 which he promised to pay in 48 equal, successive, monthly installments. Jose Mariano O. Tan signed the promissory note as a co-maker. On the same day, to guarantee the payment of the promissory note in accordance with its terms, the promissors executed a...