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Warner, Barnes & Co., Ltd. Vs. Ramon Flores111 Phil. 483

WARNER, BARNES & CO., LTD., plaintiffs-appellees, vs. RAMON FLORES, defendant-appellant.

G.R. No. L-12377 | 1961-03-29

D E C I S I O N 


PAREDES, J.: 

By stipulation of the parties, the following facts are admitted: - 

Defendant-appellant Ramon Flores, in November, 1940, purchased from plaintiffs-appellees Warner, Barnes & Co., Ltd., P3,027.90 worth of fertilizer and agreed to pay it on or before December 31, 1941, with 7% annual interest compounded quarterly. To guarantee the payment of the obligation, including interest and expenses of drafting, notarization and registration of the mortgage, the defendant mortgaged to the plaintiff 951 piculs of sugar of the crop year 1941-42. When the mortgaged crops were milled by the Ma-ao Sugar Central...