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1) Makati Leasing provided a loan to Wearever Textile Mills, secured by a chattel mortgage over certain raw materials and a machinery. Wearever defaulted and Makati began foreclosure proceedings.
2) On appeal, the CA ruled the machinery could not be subject to the chattel mortgage because it was real property permanently attached to the ground. However, the Supreme Court ruled that parties have autonomy to treat what is naturally real property as personal property, as long as no third parties are prejudiced.
3) The Supreme Court applied doctrines of estoppel and intention of parties, finding Wearever intended to treat the machinery as personal property and could not now contest the
1) Makati Leasing provided a loan to Wearever Textile Mills, secured by a chattel mortgage over certain raw materials and a machinery. Wearever defaulted and Makati began foreclosure proceedings.
2) On appeal, the CA ruled the machinery could not be subject to the chattel mortgage because it was real property permanently attached to the ground. However, the Supreme Court ruled that parties have autonomy to treat what is naturally real property as personal property, as long as no third parties are prejudiced.
3) The Supreme Court applied doctrines of estoppel and intention of parties, finding Wearever intended to treat the machinery as personal property and could not now contest the
1) Makati Leasing provided a loan to Wearever Textile Mills, secured by a chattel mortgage over certain raw materials and a machinery. Wearever defaulted and Makati began foreclosure proceedings.
2) On appeal, the CA ruled the machinery could not be subject to the chattel mortgage because it was real property permanently attached to the ground. However, the Supreme Court ruled that parties have autonomy to treat what is naturally real property as personal property, as long as no third parties are prejudiced.
3) The Supreme Court applied doctrines of estoppel and intention of parties, finding Wearever intended to treat the machinery as personal property and could not now contest the
Benguet Electric Cooperative, Inc., Petitioner, vs. Hon. Pura Ferrer-Calleja, Director of The Bureau of Labor Relations, and Beneco Employees Labor Union, Respondents.