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LBC Express vs. Court of Appeals Case Summary by Wolf Den is a document available to read on EtoBox.
1. The Mambulao Lumber Company took out a loan from the Philippine National Bank secured by a mortgage on land and buildings. It defaulted on payments and the property was sold at foreclosure for P56,908 to satisfy the debt of P57,646.59. 2. Mambulao Lumber claimed the foreclosure sale of additional chattels was unlawful since the real property sale was sufficient to pay the debt. It appealed the trial court decision ordering it to pay P3,582.52 plus interest. 3. The Supreme Court had to determine if the c
- Author
- Wolf Den
- Language
- EN