Back

Marubeni Nederland B.V. vs. Ricardo P. Tensuan

MARUBENI NEDERLAND B.V., petitioner, vs. THE HONORABLE JUDGE RICARDO P. TENSUAN, Presiding Judge of the Court of First Instance of Rizal, Branch IV, Quezon City and ARTEMIO GATCHALIAN, respondents.

G.R. No. 61950 | 1990-09-28

D E C I S I O N

FERNAN, J.:

On October 23, 1976, in Tokyo, Japan, petitioner Marubeni Nederland B.V. and D.B. Teodoro Development Corporation (DBT for short) entered into a contract whereby petitioner agreed to supply all the necessary equipment, machinery, materials, technical know-how and the general design of the construction of DBT's lime plant at the Guimaras Islands in Iloilo for a total contract price of US $5,400,000.00 on a deferred payment basis.

Simultaneously with the supply contract, the parties entered into two financing contracts, namely a construction loan agreement in the amount of US $1,600,000.00 and a cash loan...