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Cagayan Fishing Development Co. vs. Sandiko

CAGAYAN FISHING DEVELOPMENT CO., Inc., plaintiff-appellant, vs. TEODORO SANDIKO, defendant-appellee.

G.R. No. 43350 | 1937-12-23

D E C I S I O N


LAUREL, J:

This is an appeal from a judgment of the Court of First Instance of Manila absolving the defendant from the plaintiff's complaint.

Manuel Tabora is the registered owner of four parcels of land situated in the barrio of Linao, town of Aparri, Province of Cagayan, as evidenced by transfer certificate of title No. 217 of the land records of Cagayan, a copy of which is in evidence as Exhibit 1. To guarantee the payment of a loan in the sum of P8,000, Manuel Tabora, on August 14, 1929, executed in favor of the Philippine National Bank a first mortgage on the four parcels of land above-mentioned. A second mortgage...