AgencyDPFebruary32014

Whether the cfi erred in notdeclaring that byvirtueof

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: S vs. SALAS (MORA) G.R. No. L­42958; October 21, 1936 The action was brought by the plaintiff (C.N. Hodges) to foreclose a certain real estate mortgage constituted by the defendants to secure a loan. The defendants (Carlota Salas and Paz Salas) executed a power of attorney in favor of their brother­in­law Felix S. Yulo to enable him to obtain a loan and secure it with a mortgage on the real property described in transfer certificate of title No. 3335. The power of attorney was registered in the registry of deeds of the Province of Occidental Negros and the pertinent clauses thereof read as follows: That we confer upon our brother­in­law Mr. Felix S. Yulo, married, of age and resident of the municipality of Bago, Province of Occidental Negros, P. I., as required by law, a special power of attorney to obtain, in our respective names and representation, a loan in any amount which our said brother­in­law may deem necessary, being empowered, by virtue of the authority conferred in this power of attorney, to constitute a mortgage on a parcel of land absolutely belonging to us That we confer and grant to our said brother­in­law Mr. Felix S. Yulo power and authority to perform and execute each and every act necessary to the performance of his trust, which acts shall be for all purposes as if we had performed or executed them personally, hereby ratifying and confirming everything that our said brother­in­law Mr. Felix S. Yulo may execute or cause to be executed. Acting under said power of attorney, Felix S. Yulo, obtained a loan of P28,000 from the plaintiff, binding his principals jointly and severally, to pay it within ten (10) years, together with interest thereon at 12 per cent per annum payable annually in advance, to which effect he signed a promissory note for said amount and executed a deed of mortgage of the real property described in transfer certificate of title No. 3335 and the improvements thereon consisting in concrete buildings. It was stated in th...
View Full Document

This document was uploaded on 03/11/2014.

Ask a homework question - tutors are online