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Philippine Trust Company (PTC) vs. Spouses Roxas

PHILIPPINE TRUST COMPANY, PETITIONER, VS. FLORO ROXAS AND EUFEMIA ROXAS, RESPONDENTS.

G.R. No. 171897 | 2015-10-14

 
D E C I S I O N
 
JARDELEZA, J.:
 
We consider whether the principle of legal compensation may be applied to offset the judgment debt of petitioner Philippine Trust Company ("PTC") and the loan obligation of private respondents Floro and Eufemia Roxas ("Spouses Roxas").
 
I

The Spouses Roxas procured loans from PTC in the amount of Php 2,523,200 to finance their real estate business.[1] These loans were secured by real estate mortgages on the Spouses Roxas' real properties. On April 10, 1979, the Spouses Roxas, PTC, and Roben Construction and Furnishing Group, Inc. entered into "a contract of...