D E C I S I O N
CASTRO, J:
Appeal by certiorari from the decision of the Court of Appeals in CA-G.R. 33126-R dated July 25, 1967, affirming (a) the order of default issued by the Court of First Instance of Manila in a collection suit instituted by the Pacific Merchandising Corporation (hereinafter referred to as the Pacific) against the Naga Development Corporation (hereinafter referred to as the Naga), and (b) the judgment by default in the same case which ordered the Naga to pay the Pacific the sum of P143,282.76, with interest at the rate of 1% a month from July 21, 1962 until fully paid, a sum equivalent to 12% of the principal...
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