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DBP vs. Romeo Teston 545 SCRA 422

DEVELOPMENT BANK OF THE PHILIPPINES, Petitioner, versus ROMEO TESTON, represented by his Attorney-in-Fact, CONRADO O. COLLARINA, Respondent.

G.R. No. 174966 | 2008-02-14

D E C I S I O N

CARPIO MORALES, J.:

By a Deed of Conditional Sale dated June 15, 1987, Romeo Teston (respondent) purchased on installment basis from petitioner, Development Bank of the Philippines (DBP), two (2) parcels of land situated in Mandaon, Masbate, covered by Transfer Certificate of Title Nos. T-6176 and T-6177.

Respondent defaulted in the payment of his amortizations which had amounted to P3,727,435.57 as of September 1990. The DBP thus rescinded their contract by letter dated September 24, 1990 addressed to respondent.

DBP soon transferred the two (2) parcels of land to the government in compliance with Republic Act No. 6657...