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Pioneer Insurance And Surety Corporation Vs De Dios Transportation Co., Inc. And De Dios Marikina Transit Corporation, Respondents.

PIONEER INSURANCE AND SURETY CORPORATION, petitioner, vs. DE DIOS TRANSPORTATION CO., INC. and DE DIOS MARIKINA TRANSIT CORPORATION, respondents.

G.R. No. 147010 | 2003-07-18

D E C I S I O N

CALLEJO, SR., J.:

This is a petition for review on certiorari of the October 31, 2000 Decision[1] of the Court of Appeals in CA-G.R. SP No. 58519[2] and its January 30, 2001 Resolution denying the petitioner's motion for reconsideration of the said decision.

The petition at bar arose from the following factual milieu:

Herein respondents De Dios Transportation Co. (DDTC) and De Dios Marikina Transport Corporation (DMTC) were the franchise holders and owners of fifty-eight buses plying the Buendia-Ayala-UP and Monumento-Ayala routes. On February 23, 1995, the respondents, as vendors, executed a Deed of Conditional Sale...