PHILIPPINE NATIONAL BANK vs. THE COURT OF APPEALS
PHILIPPINE NATIONAL BANK vs. THE COURT OF APPEALS, RITA GUECO TAPNIO, CECILIO GUECO and THE PHILIPPINE AMERICAN GENERAL INSURANCE COMPANY, INC. G.R. No. L-27155 May 18, 1978 Facts: 1. Mrs. Tapnio was indebted to the PNB - secured by a mortgage on her standing crop including her sugar quota allocation. 2. This arrangement was necessary in order that when Mrs. Tapnio harvests, the P.N.B., having a lien on the crop, may effectively enforce collection against her. 3. However, a planter harvests less sugar than her quota, so her excess quota is utilized by another who pays her for its use. This is the arrangement entered into between Mrs. Tapnio and Mr. Tuazon. 4. Since the quota was mortgaged to the P.N.B., the contract of lease had to be approved by said Bank. The same was submitted to the branch manager. 5. The latter...