Can I read Chattel Mortgage on Machinery Ruling on EtoBox?

Chattel Mortgage on Machinery Ruling by Carlo Talatala is a document available to read on EtoBox.

What is Chattel Mortgage on Machinery Ruling about?

1) Wearever Textile Mills took out a loan from Makati Leasing and Financial Corporation, securing the loan with a chattel mortgage over certain machinery. 2) When Wearever defaulted on the loan, Makati sought to repossess the machinery, but the court of appeals ruled it was real property due to being permanently attached to the ground. 3) The Supreme Court overturned this, finding that while normally this machinery would be considered real property, the chattel mortgage contract designated it as personal p

Author

Carlo Talatala

Language

EN