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DOCTRINE OF CORPORATION BY
DEBTOR-CREDITOR RELATIONSHIP ESTOPPEL
NOTE:
a. A government institution, like bank, CLASSIFICATION OF BANKS (CUT-
is expected to exercise greater care and RICO)
prudence in its dealings, including 1. Commercial Bank
those involving registered lands.
2. Universal Bank
b. The doctrine of “the mortgagee in
good faith” does not apply to banks. 3. Thrift Bank
Requisites;
1. there must be a pending case before LOANS AGAINST REAL ESTATE
a court with competent jurisdiction;
Loans and other credit
2. the account must be clearly accommodations against real estate
identified; shall not exceed seventy-five percent
(75%) of the appraised value of the
3. the inspection is limited to the respective real estate security, plus
subject matter of the pending case; sixty percent (60%) of the appraised
4. the bank personnel and the account value of the insured improvements
holder must be notified to be present at
the time of the inspection;
PRINCIPLE OF MUTUALITY OF
5. such inspection may cover only the CONTRACTS
account identified in the pending case
Art. 1308. The contract must bind both
contracting parties, its validity or
LETTER OF CREDIT compliance cannot be left to the will of
one of them.
- a financial device developed by
merchants as a convenient and NOTE: Iniquitous, Unconscionable,
relatively safe mode of dealing with and/or Exorbitant Interest is VOID.
sales of goods, to satisfy the seemingly
irreconcilable interests of a seller, who
refuses to part with his goods before he TRUTH IN LENDING (CAD CAFPe)
is paid, and a buyer, who wants to have
Any creditor shall furnish to
a control of the goods before paying.
each person to whom credit is
extended, prior to the communication 2. an obligation on the part of the
of the transaction, a clear statement in defendant to respect the right
writing setting forth the following
3. an act or omission violative of the
information:
right of the plaintiff
1. the cash price or delivered price of
the property;
PLACEMENT UNDER
FORECLOSURE OF REAL ESTATE CONVERSATORSHIP
MORTGAGE
A. GROUNDS
- in the event of foreclosure, either
judicially or extrajudicially, the 1. Whenever, on the basis of a report
mortgagor-debtor shall have the right submitted by the appropriate
within one year (1) after sale of the real supervising or examining department,
estate, to redeem the property by the Monetary Board finds that a bank
paying the amount due under the or quasi-bank is in a state of:
mortgage deed a. continuing inability, or
b. unwillingness to maintain a
- the redemption period is counted from condition of liquidity deemed adequate
the date of the registration of sale with to protect the interest of depositors and
the Register of Deeds creditors
B. RECEIVERSHIP AND
INVOLUNTARY LIQUIDATION
GROUNDS: