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What is Ong vs. Roban Lending: Loan Dispute Ruling about?

1) Petitioners obtained several loans from Roban Lending Corporation totaling P4 million secured by real estate. The loans became past due. 2) In 2001, the parties executed agreements consolidating the loans at P5.9 million and allowing assignment of the real estate in settlement if not paid in full within a year. 3) Petitioners sued, arguing the agreements were void. The trial court dismissed, finding no prohibited pactum commissorium. The appellate court affirmed, though noting the trial court rendere

Author

Krister Vallente

Language

EN