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The Manila Trading & Supply Company vs. Santos, et al

THE MANILA TRADING & SUPPLY COMPANY, plaintiff-appellee, vs. TOMAS SANTOS and GENRAO D. SAEZ, defendants-appellants.

G.R. No. 43861 | 1938-09-26

D E C I S I O N


IMPERIAL, J:

On October 3, 1933, the plaintiff sold to the defendants a "Ford Truck chassis, Model BB, 157-WB, L. S. Dual Wheels standard equipment." For the unpaid balance of the price amounting to P2,200, the defendants executed twenty promissory notes, the first three for P150 each and the others for P100 each, payable successively on the 16th of every month beginning November 16, 1933. The defendants also bound themselves to pay interest at 12 per cent per annum. To secure these promissory notes, the defendants mortgaged to the plaintiff the "Ford Truck chassis" and accordingly executed on the same date the...