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JMA House Incorporated vs. Sta. Monica Industrial and Development Corporation, et al.

JMA HOUSE INCORPORATED, Petitioner, versus STA. MONICA INDUSTRIAL and DEVELOPMENT CORPORATION and A. GUERRERO DEVELOPMENT CORPORATION, Respondents.

G.R. No. 154156 | 2006-08-31

FIRST DIVISION
 
D E C I S I O N 
 
CALLEJO, SR., J.: 
 
Before the Court is a Petition for Review on Certiorari of the Decision[1] of the Court of Appeals (CA) in CA-G.R. CV No. 60085 affirming on appeal the Decision[2] of the Regional Trial Court (RTC), Quezon City, Branch 105, in Civil Case No. Q-91-10576. 
 
JMA House Incorporated (JMA) applied for a P1,500,000.00 loan from the Pioneer Savings and Loan Association, Inc. (Pioneer). To secure payment thereof, JMA executed a real estate mortgage over a parcel of land identified as Lot No. 4, Block No. 13, Subdivision Plan No. Psd-35337 covered by Transfer...