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Loan Contract Perfection Case: Naguiat vs CA by Jedyne Tejada is a document available to read on EtoBox.

What is Loan Contract Perfection Case: Naguiat vs CA about?

Aurora Queano applied for a loan of P200,000 from Celestina Naguiat. Naguiat endorsed a check for P95,000 from Associated Bank and issued her own check for P95,000, but Queano claimed she never received the funds. Queano executed a mortgage on property to secure the loan. When the postdated check from Queano bounced, Naguiat tried to foreclose on the property. The court ruled the mortgage was null and void because Naguiat provided no evidence the checks were cashed, meaning the loan contract was never perfe

Author

Jedyne Tejada

Language

EN