[go: up one dir, main page]
Scribd
Upload
135 views2 pages

Bonnevie v. CA (Case Digest)

This case involved a dispute over the validity of a mortgage on a property. The owners of the property (the Lozanos) mortgaged the property to secure a loan of P75,000 from the defendant bank. However, two days before receiving the loan, the Lozanos sold the property to the plaintiff through a deed of sale and mortgage for P100,000. The plaintiff argued the mortgage was invalid since the loan was not received at the time of the mortgage. However, the Court held the mortgage was valid, as a contract of loan is considered perfected at the time the mortgage is executed, even if the funds are not yet received. Further, the plaintiff voluntarily assumed the mortgage when purchasing the property

Uploaded by

Ray John Arandia Dorig
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
135 views2 pages

Bonnevie v. CA (Case Digest)

This case involved a dispute over the validity of a mortgage on a property. The owners of the property (the Lozanos) mortgaged the property to secure a loan of P75,000 from the defendant bank. However, two days before receiving the loan, the Lozanos sold the property to the plaintiff through a deed of sale and mortgage for P100,000. The plaintiff argued the mortgage was invalid since the loan was not received at the time of the mortgage. However, the Court held the mortgage was valid, as a contract of loan is considered perfected at the time the mortgage is executed, even if the funds are not yet received. Further, the plaintiff voluntarily assumed the mortgage when purchasing the property

Uploaded by

Ray John Arandia Dorig
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
You are on page 1/ 2

BONNEVIE vs.

THE HONORABLE COURT OF APPEALS


G.R. NO. L-49101. OCTOBER 24, 1983
GUERRERO, J:

SYLLABUS:

A CONTRACT OF LOAN IS A CONSENSUAL CONTRACT: a contract of loan is perfected at


the same time a contract of mortgage is executed. A promissory note is merely an evidence
of indebtedness and does not indicate lack of consideration of the mortgage at the time of
its execution.

FACTS:

The Lozanos were the owners of the property which they mortgaged to secure the payment
of the loan in the amount of P 75,000 they were about to obtain from the defendant bank.
Two days later, before receiving the P 75,000.000 from the bank, the Lozanos executed in
favor of herein plaintiff a deed of sale with mortgage for a consideration of P 100,000. The
P 75,000 was received 6 days after the execution of the deed of mortgage when the Lozanos
and the co-maker signed the promissory note.

Upon failure to secure the payment, tdefendant bank applied for foreclosure of the
mortgage and an auction was conducted and offers from plaintiff to repurchase the
property failed. Now, plaintiff contends that since the P 75,000 was not received by the
Lozanos at the time the mortgage was executed makes the deed of mortgage invalid
because of its lack of consideration. Plaintiff further alleged that in the absence of a
principal obligation, there is want of consideration in the accessory contract, which
consequently impairs its validity and fatally affects its very existence.

ISSUE:

Whether the real estate mortgage executed by the spouses Lozano was valid

HELD:
Yes. The fact that the Lozanos did not collect from the bank the consideration of the
mortgage on the date it was executed is immaterial. A contract of loan, being a consensual
contract, was perfected at the same time the contract of mortgage was executed. Further, it
was stipulated in the contract of mortgage that should the mortgaged property is sold, the
vendee shall assume the mortgage in the terms and conditions under which it is
constituted. It can also be said that petitioners voluntarily assumed the mortgage when
they entered into the deed of sale with mortgage. They are now estopped from impugning
its validity.

You might also like