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    Strocheker vs. Ramirez - G.R. No. 18700 - September 26, 1922

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    Lordy Jessah Aggabao
    There were three creditors who each claimed preference over a half-interest in a business called Antigua Botica Ramirez. The business interest was first mortgaged to Fidelity & Surety Co. in March 1919 and registered, and then mortgaged to Ildefonso Ramirez in September 1919 and also registered. The lower court ruled that Fidelity & Surety Co.'s mortgage had preference over Ramirez's mortgage. Ramirez appealed. The court ruled that a business interest is considered personal property that can be subject to a mortgage. As the mortgages described the half interest in enough detail to identify it, the descriptions were sufficient. The court affirmed the lower court's ruling giving preference

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    Strocheker vs. Ramirez - G.R. No. 18700 - September 26, 1922

    Uploaded by

    Lordy Jessah Aggabao
    111 views1 page
    There were three creditors who each claimed preference over a half-interest in a business called Antigua Botica Ramirez. The business interest was first mortgaged to Fidelity & Surety Co. in March 1919 and registered, and then mortgaged to Ildefonso Ramirez in September 1919 and also registered. The lower court ruled that Fidelity & Surety Co.'s mortgage had preference over Ramirez's mortgage. Ramirez appealed. The court ruled that a business interest is considered personal property that can be subject to a mortgage. As the mortgages described the half interest in enough detail to identify it, the descriptions were sufficient. The court affirmed the lower court's ruling giving preference

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    There were three creditors who each claimed preference over a half-interest in a business called Antigua Botica Ramirez. The business interest was first mortgaged to Fidelity & Surety Co. in March 1919 and registered, and then mortgaged to Ildefonso Ramirez in September 1919 and also registered. The lower court ruled that Fidelity & Surety Co.'s mortgage had preference over Ramirez's mortgage. Ramirez appealed. The court ruled that a business interest is considered personal property that can be subject to a mortgage. As the mortgages described the half interest in enough detail to identify it, the descriptions were sufficient. The court affirmed the lower court's ruling giving preference

    Copyright:

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

    Strocheker vs. Ramirez - G.R. No. 18700 - September 26, 1922

    Uploaded by

    Lordy Jessah Aggabao
    There were three creditors who each claimed preference over a half-interest in a business called Antigua Botica Ramirez. The business interest was first mortgaged to Fidelity & Surety Co. in March 1919 and registered, and then mortgaged to Ildefonso Ramirez in September 1919 and also registered. The lower court ruled that Fidelity & Surety Co.'s mortgage had preference over Ramirez's mortgage. Ramirez appealed. The court ruled that a business interest is considered personal property that can be subject to a mortgage. As the mortgages described the half interest in enough detail to identify it, the descriptions were sufficient. The court affirmed the lower court's ruling giving preference

    Copyright:

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

    [No. 18700.

    September 26, 1922]

    INVOLUNTARY INSOLVENCY OF PAUL STROCHECKER, appellee, vs. ILDEFONSO


    RAMIREZ, creditor and appellant. WILLIAM EDMONDS, assignee.

    ROMUALDEZ, J.:

    FACTS:

    There were three mortgagees each of whom claimed preference. The half-interest in the
    business (Antigua Botica Ramirez) was mortgaged with Fidelity & Surety Co. on 10 March 1919,
    and registered in due time in the registry of property, while another mortgage was made with
    Ildefonso Ramirez on 22 September 1919 and registered also in the registry. Raised in the lower
    court, the trial court declared the mortgage of Fidelity & Surety Co. entitled to preference over
    that of Ildefonso Ramirez and another mortgage by Concepcion Ayala. Ayala did not appeal,
    but Ramirez did.

    ISSUE: Whether or the not half-interest over Antigua Botica Ramirez is considered as personal
    property. (YES)

    RULING:

    An interest in a business may be the subject of mortgage, for it is a personal property, being
    capable of appropriation, and not included among the real properties enumerated in article 335
    of the Civil Code.

    Where the description of the chattel mortgaged is such as to enable the parties to the mortgage
    or any other person to identify the same after a reasonable investigation or inquiry, the
    description is sufficient. Thus, if the thing is described as the half interest of the debtor in the
    drug business known as Antigua Botica Ramirez (owned by a certain person therein named and
    the mortgagor) located at Nos. 123 and 125, Calle Real, District of Intramuros, Manila, P. I., the
    description meets the requirements of the law.

    The vendor of a chattel, who is a creditor for the purchase price, has no preference over a
    creditor holding a mortgage on that chattel where the vendor is not in possession of the thing
    mortgaged. A junior mortgage can have no preference over a senior mortgage by the mere fact
    that prior to said junior mortgage a personal security had been stipulated between the junior
    mortgagee and the debtor, because the second mortgage cannot be given effect as of the date the
    personal security was stipulated. The judgment appealed from is affirmed with costs against the
    appellant. So ordered.

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