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Manila Surety & Fidelity Co., Inc, vs. Almeda,et al

MANILA SURETY & FIDELITY CO., INC., plaintiff-appellant, vs. NOEMI ALMEDA, doing business under the name and style of ALMEDA TRADING, GENEROSO ESQUILLO and NATIONAL MARKETING CORPORATION, defendants-appellees.

G.R. No. L-27249 | 1970-07-31

D E C I S I O N 


REYES, J.B.L., J: 

This is an appeal from the ruling of the Court of First Instance of Manila, rendered in Civil Case No. 62518, that the insolvency of a debtor-principal does not release the surety from its obligation to the creditor under the bond. 

The lower court found that on 4 December 1961, Noemi Almeda, married to Generoso Esquillo, and doing business under the name and style of Almeda Trading, entered into a contract with the National Marketing Corporation (NAMARCO) for the purchase of goods on credit, payable in 30 days from the dates of deliveries thereof. As required by the NAMARCO, a bond for...