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Pacweld Steel Corp. Vs. Asia Steel Corp.

PACWELD STEEL CORPORATION, plaintiff-appellee, vs. ASIA STEEL CORPORATION, defendant-appellant.

G.R. No. L-26325 | 1982-11-15

D E C I S I O N


GUTIERREZ, JR., J.:

This is an appeal from a decision of the Court of First Instance of Manila, presided by then Judge, now Minister of Justice, Ricardo C. Puno, which ordered appellant Asia Steel Corporation to pay appellee Pacweld Steel Corporation the sum of P15,900.00 on the principal obligation, P15,094.73 accrued interests, and interests on both sums at the legal rate from the filing of the complaint until full payment.

On May 21, 1904, Pacweld Steel and Asia Steel signed an agreement for the latter to liquidate its outstanding accounts with the former. In the agreement, Asia Steel acknowledged its indebtedness to...