Case Digest (G.R. No. 18500)
Facts:
Filomena Sarmiento and Eusebio M. Villasenor v. Glicerio Javellana, G.R. No. 18500, October 02, 1922, the Supreme Court En Banc, Avancena, J., writing for the Court.On August 28, 1911, Glicerio Javellana loaned the plaintiffs Filomena Sarmiento and Eusebio M. Villasenor P1,500 at 25% interest per annum for one year. To secure repayment the plaintiffs pledged several pieces of jewelry (a large medal with a central diamond surrounded by ten diamonds, a pair of diamond earrings, a small comb with twenty-two diamonds, and two diamond rings). The parties appraised the jewels at P4,000, and the written instruments (Exhibits A and 1) reflected an amount of P1,875, which included the one-year interest.
At maturity (August 31, 1912) the plaintiffs allege that Eusebio obtained from Javellana an indefinite extension: the loan would continue to draw 25% interest so long as the pledged jewels were sufficient security. In August 1919 Eusebio, accompanied by Carlos M. Dreyfus, went to Javellana’s house with P11,000 to redeem the jewels, but Javellana refused, saying the time for redemption had elapsed. The plaintiffs again offered to pay and redeem but were again refused. They then sued to compel return of the pledged jewels or their value upon payment of the debt and accrued interest.
Javellana defended, claiming that after maturity he asked for payment, and one month later Filomena offered to sell the jewels to him for P3,000; he said he agreed and paid her P1,125 (the balance after deducting the plaintiffs’ loan). At trial the plaintiffs denied any sale. The trial court found the jewels had not been sold, fixed their value at P12,000, and ordered return or payment of value upon plaintiffs’ payment of the debt with interest. The judgment was appealed to the Supreme Court.
Following the October 2, 1922 decision, a motion for reconsideration was filed. On April 4, 1923 Just...(Subscriber-Only)
Issues:
- Did the plaintiffs’ action to recover the thing pledged prescribe?
- Were the plaintiffs entitled to the return of the pledged jewels (or their value) upon payment of the loan and accrued interest, or had the defendant lawfully ...(Subscriber-Only)
Ruling:
- (Subscriber-Only)
Ratio:
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Doctrine:
- (Subscriber-Only)