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Severino and maxima Castro went to the Rural Bank of Caloocan to apply for a loan. After the bank approved the loan for the amount of P3,000.00, Castro signed a promissory note. The Valencia spouses obtained from the bank an equal amount of loan for P3,000.00. Both loans were secured by a real-estate mortgage on Castro's house and lot.
Severino and maxima Castro went to the Rural Bank of Caloocan to apply for a loan. After the bank approved the loan for the amount of P3,000.00, Castro signed a promissory note. The Valencia…