This case has been cited 1 times or more.
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2002-06-06 |
QUISUMBING, J. |
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| Going into the matter of the validity of the foreclosure, we find the foreclosure invalid as it stemmed from the enforcement of a usurious mortgage contract. This is in line with our ruling in Delgado vs. Alonso Duque Valgona.[40] In said case, the trial court found usurious payment for parcels of land secured by a deed of mortgage and declared the mortgage deed void. Affirming the decision of the trial court, we held that the trial judge committed no error in declaring that instrument void, notwithstanding that the petitioners did not ask that the whole contract be annulled. We declared that it was not erroneous for the court to eradicate the evil root and branch, more particularly since the defendant therein had also asked that the mortgage be annulled.[41] | |||||