G.R. No. 194964-65 - University of Mindanao, Inc. vs. Bangko Sentral ng Pilipinas

University of Mindanao, Inc. vs. Bangko Sentral ng Pilipinas

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Title Supreme Court: University of Mindanao, Inc. vs. Bangko Sentral ng Pilipinas

Case: G.R. No. 194964-65

Decision Date: Jan 11, 2016

A university's properties were mortgaged without board approval to secure a thrift bank's loans. Courts ruled the mortgages void due to unauthorized acts and lack of ratification, emphasizing corporate officer authority limits.

mortgage contract

unauthorized

unenforceable

Marathon 1 hr 5 min

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