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General Insurance And Surety Corporation Vs. Republic Of The Phil., Et Al.117 Phil. 1

GENERAL INSURANCE and SURETY CORPORATION, petitioner, vs. REPUBLIC OF THE PHILIPPINES and CENTRAL LUZON EDUCATIONAL FOUNDATION, INC., respondents.

G.R. No. L-13873 | 1963-01-31

D E C I S I O N 


REGALA, J.: 

On May 15, 1954, the Central Luzon Educational Foundation, Inc. and the General Insurance and Surety Corporation posted in favor of the Department of Education a bond, the terms of which read as follows: 

"KNOW ALL MEN BY THESE PRESENTS: 

WHEREAS, the Department of Education has required the Central Luzon Educational Foundation, Inc., operating the Sison & Aruego Colleges, of Urdaneta, Pangasinan, Philippines an institution of learning to file a bond to guarantee the adequate and efficient administration of said school or college and the observance of all regulations prescribed by the...