Back

Commercial Credit Corp. of C. De Oro vs C.of Appeal

COMMERCIAL CREDIT CORPORATION OF CAGAYAN DE ORO, petitioner, vs. THE COURT OF APPEALS and THE CAGAYAN DE ORO COLISEUM, INC., respondents.

G.R. No. 78315 | 1989-01-02

D E C I S I O N


GANCAYCO, J.:

In this petition for review of a decision of the Court of Appeals in CA G.R. SP No. 10888 1 the issue is whether or not a compromise judgment which was found by the Court of Appeals to be lawful may be modified by the same court.

Sometime in 1978 private respondent Cagayan De Oro Coliseum, Inc. executed a promissory note in the amount of P329,852.54 in favor of petitioner Commercial Credit Corporation of Cagayan de Oro, payable in 36 monthly installments. The note is secured by a real estate mortgage duly executed by private respondent in favor of petitioner. As said respondent defaulted in the payment of...