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Manila Surety & Fidelity Company, Inc. vs. Rodolfo R. Velayo

MANILA SURETY & FIDELITY COMPANY, INC., plaintiff-appellee, vs. RODOLFO R. VELAYO, defendant-appellant.

G.R. No. L-21069 | 1967-10-26

D E C I S I O N 


REYES, J.B.L., J.: 

Direct appeal from a judgment of the Court of First Instance of Manila (Civil Case No.-49435) sentencing appellant Rodolfo Velayo to pay appellee Manila Surety & Fidelity Co., Inc. the sum of P2,565.00 with interest at 12-1/2% per annum from July 13, 1954; P120.93 as premiums with interest at the same rate from June 18, 1954: attorneys' fees in an amount equivalent to 15% of the total award, and the costs. 

Hub of the controversy are the applicability and extinctive effect of Article 2115 of the Civil Code of the Philippines (1950). 

The uncontested facts are that in 1953, Manila...