Академический Документы
Профессиональный Документы
Культура Документы
1989
Plaintiff Appellee: Manila Banking
CorporationDefendants
Appellants:
Anastacio Teodoro Jr and Anna Teodoro
FACTS:
1. April 1966, Defendants Spouses
Teodoro together with Teodoro Sr jointly
and severally, executed in favor of
plaintiff a promissory note for the sum
of P10,420 in favour of Manila Banking
Corp (MBC);
2. Defendants failed to pay the said
amount inspite of repeated demands
and the obligation as of September 30,
1969 stood at P 15,137.11.
5.
Sale
OPTIONAL:
The parties gave the deed of assignment the
form of an absolute conveyance of title over
the receivables assigned, essentially for the
convenience of the assignee:
- Without such nature of absolute
conveyance, the assignee would have to
foreclose the properties; he would have to
comply with documentation and registration
requirements of a pledge or chattel mortgage);