About this document
Power Commercial v. Quiambao: SC Ruling by Eyn Herrera Granatin is a document available to read on EtoBox.
Power Commercial & Industrial Corporation bought land from the Quiambao spouses and assumed the existing mortgage on the property held by the Philippine National Bank. However, the bank later withdrew approval for Power to assume the mortgage when Power failed to submit necessary documents. Power sued to rescind the sale agreement, claiming it was entitled to return of payments made under the principle of "solutio indebiti" since the mortgage assumption was not approved. The Supreme Court ruled against Powe
- Author
- Eyn Herrera Granatin
- Language
- EN