Back

Superlines Transportation Company, Inc., And Manolet Lavides vs Icc Leasing & Financing Corporation

SUPERLINES TRANSPORTATION COMPANY, INC., and MANOLET LAVIDES, petitioners, vs. ICC LEASING & FINANCING CORPORATION, respondent.

G.R. No. 150673 | 2003-02-28

D E C I S I O N

CALLEJO, SR., J.:

This is a petition for review on certiorari under Rule 45 of the 1997 Rules of Civil Procedure, as amended, of the Decision[1] of the Court of Appeals in CA-G.R. No. 65126 reversing on appeal the Decision[2] of Branch 142 of the Regional Trial Court of Makati City in Civil Case No. 97-816.

The Antecedents

In 1995, Superlines Transportation Co., Inc. (Superlines, for brevity) decided to acquire five new buses from the Diamond Motors Corporation for the price of P10,873,582.00. However, Superlines lacked financial resources for the purpose. By virtue of a board resolution, Superlines authorized its...