This case has been cited 1 times or more.
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2014-03-17 |
BERSAMIN, J. |
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| With the contract being voidable, petitioners' action to annul the real estate mortgage already prescribed. Article 1390, in relation to Article 1391 of the Civil Code, provides that if the consent of the contracting parties was obtained through fraud, the contract is considered voidable and may be annulled within four years from the time of the discovery of the fraud.[31] The discovery of fraud is reckoned from the time the document was registered in the Register of Deeds in view of the rule that registration was notice to the whole world.[32] Thus, because the mortgage involving the seven lots was registered on September 5, 1984, they had until September 5, 1988 within which to assail the validity of the mortgage. But their complaint was instituted in the RTC only on October 10, 1991.[33] Hence, the action, being by then already prescribed, should be dismissed. | |||||