G.R. No. 161407 - JOAQUIN VILLEGAS AND EMMA M. VILLEGAS, VS. RURAL BANK OF TANJAY, INC..D E C I S I O N - Supreme Court E-Library

Ruling

Accordingly, TCT No. 12389 was cancelled and a new one, TCT No. 19042, (Exh. 14) was issued in [respondent's] name on November 8, 1989. Thereafter, [respondent] took possession of the properties. Hence, the action by [petitioners for declaration of nullity of loan and mortgage contracts, recovery of possession of real property, accounting and damages and, in the alternative, repurchase of real estate] commenced on January 15, 1990. In resisting the complaint, [respondent] averred that [petitioners] have absolutely no cause of action against it, and that the complaint was filed only to force it to allow [petitioners] to reacquire the foreclosed properties under conditions unilaterally favorable to them. x x x x After trial on the merits, the [RTC] rendered a Decision dismissing the complaint, disposing as follows: "In the light of the foregoing, it is considered opinion of this Court, that [petitioners] failed to prove by preponderance of evidence their case and therefore the herein complaint is ordered dismissed. [Petitioners] are ordered to pay [respondent] the sum of P3,000.00 as attorney's fees and to pay costs without pronouncement as to counterclaim. SO ORDERED.