Back

Ernest Berg Vs. Valentin Teus 096 Phil 102

ERNEST BERG, plaintiff-appellant, vs. VALENTIN TEUS, appellant. Alva hill for respondent.

G.R. No. L-6453 | 1954-10-30

D E C I S I O N


CONCEPCION, J.:

Late in September, 1944, defendant Valentin Teus applied from plaintiff Ernest Berg, and the latter granted him, "a credit line up to P80,000," to be available to Teus "for the discounting of promissory notes payable on demand two (2) years after the declaration of Armistice between Japan and the United States of America, but never before that date, bearing interest at the rate of eight (8%) per cent per annum." Soon after, Teus obtained from Berg notes issued and delivered by the former to the latter. To guarantee compliance with the obligation thus contracted by him, Teus executed in Manila, on November...