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Saura Import & Export Co. Inc., vs. Court of Appeals, et al

SAURA IMPORT & EXPORT CO., INC., petitioners, vs. THE COURT OF APPEALS and PRUDENTIAL BANK TRUST COMPANY, INC., respondents.

G.R. No. L-34770 | 1978-05-18

D E C I S I O N

CONCEPCION JR., J:

Petition for review of the decision of the respondent Court of Appeals dismissing the petitioner's appeal upon the ground that the record on appeal does not show on its face that the appeal was perfected on time.
The record shows that on July 2, 1953, the petitioner opened an irrevocable letter of credit with the respondent Prudential Bank & Trust Co., in the amount of US $157,154.00. The letter of credit authorized the Bank of East Asia, Ltd. of Hongkong, through the Chemical Bank & Trust Co. of New York, to purchase for petitioner's account, drafts drawn by Reiss, Bradley & Co., Ltd. of Hongkong, to...