20. Deed of Sale

In 1965, Renren bought from Robyn a parcel of regis­tered land evidenced by a duly executed deed of sale. The owner presented the deed of sale and the owner's certificate of title to the Register of Deeds. The entry was made in the day book and corresponding fees were paid as evidenced by official receipt. However, no transfer of certificate of title was issued to Renren because the original certificate of title in Robyn's name was temporarily misplaced after fire partly gutted the Office of the Register of Deeds. Meanwhile, the land had been possessed by Robyn's distant cousin, Mikaelo, openly, adversely and continuously in the concept of owner since 1960. It was only in April 1998 that Renren sued Mikaelo to recover possession. Mikaelo invoked a) acquisitive prescription and b) laches, asking that he be declared owner of the land. Decide the case by evaluating these defenses. [5%]