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Philippine Lawin Bus, Co, et al. vs CA and Advance Capital Corp

PHILIPPINE LAWIN BUS, CO., MASTER TOURS & TRAVEL CORP., MARCIANO TAN, ISIDRO TAN, ESTEBAN TAN and HENRY TAN, petitioners, vs. COURT OF APPEALS and ADVANCE CAPITAL CORPORATION, respondents.

G.R. No. 130972 | 2002-01-23

D E C I S I O N

PARDO, J.:

The Case

The case is a petition for review via certiorari of the decision of the Court of Appeals,[1] reversing that of the trial court[2] and sentencing petitioners as follows:

"WHEREFORE, the appealed decision should be, as it is hereby REVERSED and SET ASIDE. In lieu thereof, a new one is hereby rendered ordering the defendants-appellees to pay, jointly and solidarily, in favor of plaintiff-appellant Advance Capital Corporation, the following amounts:

"1. P16,484,994.42, the principal obligation under the two promissory note Nos. 003 and 00037 plus interest and penalties;

"2. P100,000.00 for loss of goodwill and...