I try to follow these rules of thumb
1. If the database know how to do it do it in the database.
2. The less code you write the better.

Writing functional processes in the database give you more option to test
your logic.
If it work in the database and not in the application you know where you
need to put all your efforts.

Although I must admit I stopped setting foreign keys since cake understand
the reference automatically throw convention.

More important question is whether to use stored procedure instead of using
application code?
In this case also I prefer using the database features, in many cases it
save some transactions.

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