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Chattel Mortgage and Judgment Novation Case by Allen Windel Bernabe is a document available to read on EtoBox.

The petitioner obtained a judgment against the respondent for a sum of money. The respondent asked to setup a mortgage on his jeep instead of having it seized. A chattel mortgage agreement was executed that fixed the amount owed and payment terms. However, the respondent later claimed the agreement constituted novation, replacing the judgment debt. The Supreme Court ruled no implied novation occurred. While the agreement made minor changes, like reducing the amount owed due to prior payments, it did not int

Author

Allen Windel Bernabe

Language

EN