G.R. No. 97898. August 11, 1997.*
In 1972, petitioner Florante F. Manacop and his wife purchased a residential lot. The petitioner was later sued by E & L Mercantile, Inc for collection of indebtedness which instead of filing an answer, petitioner and his company entered into a compromise agreement. On July 15, 1986, private respondent filed a motion for execution which the lower court granted. The sheriff levied and sold several vehicles and other personal properties of petitioner in partial satisfaction of the judgment debt.