INVOLUNTARY INSOLVENCY OF PAUL

STROCHECKER V. RAMIREZ (GR 18700, 26

September 1922)

FACTS:

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 not half-interest over a business is a movable property

RULING: Yes.

1. Interest in business may be subject of mortgage With regard to the nature of the
property mortgaged which is one-half interest in the business, such interest is a
personal property capable of appropriation and not included in the enumeration of real
properties in articles 335 of the Civil Code, and may be the subject of mortgage. All
personal property may be mortgaged. (Sec. 7, Act 1508.)

2. Description of mortgage property sufficient The description contained in the

document is sufficient. The law (sec. 7, Act 1508) requires only a description of the
mortgaged property shall be such as to enable the parties to the mortgage, or any other
person, after reasonable inquiry and investigation, to identify the same. In the case at
bar, “his half interest in the drug business known as Antigua Botica Ramirez, located at
Calle Real Nos. 123 and 125, District of Intramuros, Manila Philippine Islands" is
sufficient.