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State Investment House, Inc. Vs. Court Of Appeals, Et Al.

STATE INVESTMENT HOUSE, INC., petitioner, vs. THE HONORABLE COURT OF APPEALS, HON. JUDGE PERLITA J. TRIA TIRONA, Presiding Judge of the Regional Trial Court of Quezon City, Branch CII, and SPS. RAFAEL and REFUGIO AQUINO, respondents. Padilla Law Office for petitioner. Rodolfo T. Galing and Chaves, Hechanova & Lim Law Offices for private respondents.

G.R. No. 90676 | 1991-06-19

D E C I S I O N


FELICIANO, J.:

On 5 April 1982, respondent spouses Rafael and Refugio Aquino pledged certain shares of stock to petitioner State Investment House, Inc. ("State") in order to secure a loan of P120,000.00 designated as Account No. IF 82-0631-AA. Prior to the execution of the pledge, respondent spouses, as an accommodation to and together with the spouses Jose and Marcelina Aquino, signed an agreement (Account No. IF-82-1375-AA) with petitioner State for the latter's purchase of receivables amounting to P375,000.00. When Account No. IF-82-0631-AA fell due, respondent spouses paid the same partly with their own funds and...