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    Bonnevie v. CA

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    Camille Domingo
    The document summarizes a Supreme Court case regarding a mortgage. Spouses Lozano mortgaged their property to secure a loan from Philippine Bank of Commerce (PBCom). Two days later, they sold the property to Bonnevie. Bonnevie then defaulted on payments to PBCom, prompting an auction. Bonnevie argued the mortgage was invalid as no loan had been received when the deed was executed. The Court affirmed the decision that a contract of loan is perfected upon consent, so the mortgage was valid even though the loan proceeds were received later.

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    Bonnevie v. CA

    Uploaded by

    Camille Domingo
    13 views1 page
    The document summarizes a Supreme Court case regarding a mortgage. Spouses Lozano mortgaged their property to secure a loan from Philippine Bank of Commerce (PBCom). Two days later, they sold the property to Bonnevie. Bonnevie then defaulted on payments to PBCom, prompting an auction. Bonnevie argued the mortgage was invalid as no loan had been received when the deed was executed. The Court affirmed the decision that a contract of loan is perfected upon consent, so the mortgage was valid even though the loan proceeds were received later.

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    The document summarizes a Supreme Court case regarding a mortgage. Spouses Lozano mortgaged their property to secure a loan from Philippine Bank of Commerce (PBCom). Two days later, they sold the property to Bonnevie. Bonnevie then defaulted on payments to PBCom, prompting an auction. Bonnevie argued the mortgage was invalid as no loan had been received when the deed was executed. The Court affirmed the decision that a contract of loan is perfected upon consent, so the mortgage was valid even though the loan proceeds were received later.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    13 views1 page

    Bonnevie v. CA

    Uploaded by

    Camille Domingo
    The document summarizes a Supreme Court case regarding a mortgage. Spouses Lozano mortgaged their property to secure a loan from Philippine Bank of Commerce (PBCom). Two days later, they sold the property to Bonnevie. Bonnevie then defaulted on payments to PBCom, prompting an auction. Bonnevie argued the mortgage was invalid as no loan had been received when the deed was executed. The Court affirmed the decision that a contract of loan is perfected upon consent, so the mortgage was valid even though the loan proceeds were received later.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 1

    G.R. No.

    L-49101 October 24, 1983

    RAOUL S.V. BONNEVIE and HONESTO V. BONNEVIE, petitioners,

    vs.
    THE HONORABLE COURT OF APPEALS and THE PHILIPPINE BANK OF COMMERCE,
    respondents.
    Facts:

    Spouses Lozano mortgaged their property to secure the payment of a loan amounting
    to 75,000 with private respondent Philippine Bank of Communication (PBCom). The deed of
    mortgage was executed on 12-6-66, but the loan proceeeds were received only on 12-12-66.
    Two days after the execution of the deed of mortgage, the spouses sold the property to the
    petitioner Bonnevie for and in consideration of 100,000—25,000 of which payable to the
    spouses and 75,000 as payment to PBCom. Afterwhich, Bonnevie defaulted payments to
    PBCom prompting the latter to auction the property after Bonnevie failed to settle despite
    subsequent demands, in order to recover the amount loaned. The latter now assails the
    validity of the mortgage between Lozano and PBCom arguing that on the day the deed was
    executed there was yet no principal obligation to secure as the loan of P75,000.00 was not
    received by the Lozano spouses, so that in the absence of a principal obligation, there is
    want of consideration in the accessory contract, which consequently impairs its validity and
    fatally affects its very existence.

    Issue:

    Was there a perfected contract of loan?

    Decision:

    WHEREFORE, the appeal being devoid of merit, the decision of the Court of Appeals is
    hereby AFFIRMED. Costs against petitioners.

    Ratio:

    Yes. From the recitals of the mortgage deed itself, it is clearly seen that the mortgage
    deed was executed for and on condition of the loan granted to the Lozano spouses. The fact
    that the latter did not collect from the respondent Bank the consideration of the mortgage
    on the date it was executed is immaterial. A contract of loan being a consensual contract,
    the herein contract of loan was perfected at the same time the contract of mortgage was
    executed. The promissory note executed on December 12, 1966 is only an evidence of
    indebtedness and does not indicate lack of consideration of the mortgage at the time of its
    execution.

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