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Jefferson Lim vs Queensland Tokyo Commodities, Inc.

JEFFERSON LIM, petitioner, vs. QUEENSLAND TOKYO COMMODITIES, INC., respondent.

G.R. No. 136031 | 2002-01-04

D E C I S I O N

QUISUMBING, J.:

Before us is a petition for review assailing the June 25, 1998, decision[1] of the Court of Appeals in CA-G.R. CV No. 46495 which reversed and set aside the decision of the Regional Trial Court of Cebu, Branch 24, dismissing the complaint by respondent for a sum of money as well as petitioner's counterclaim.

Private respondent Queensland Tokyo Commodities, Incorporated (Queensland, for brevity) is a duly licensed broker engaged in the trading of commodities futures with full membership and with a floor trading right at the Manila Futures Exchange, Inc..[2]

Sometime in 1992, Benjamin Shia, a market...