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Pacific Banking Corp. vs. Court of Appeals, 168 SCRA 1

PACIFIC BANKING CORPORATION, petitioner, vs. COURT OF APPEALS and ORIENTAL ASSURANCE CORPORATION, respondents.

G.R. No. L-41014 | 1988-11-28

SECOND DIVISION

D E C I S I O N 


PARAS, J.: 

This is a petition for review on certiorari of the decision of respondent Court of Appeals ** in CA-G.R. No. 41735-R, entitled "Pacific Banking Corporation vs. Oriental Assurance Corporation", which set aside the decision of the Court of First Instance (CFI) of Manila, *** which had in turn granted the complaint for a sum of money in Civil Case No. 56889. 

As gathered from the records, the undisputed facts of this case are as follows: 

On October 21, 1963, Fire Policy No. F-3770 (Exhibit "A"), an open policy, was issued to the Paramount Shirt Manufacturing Co. (hereinafter...