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Cebu Contractors Consortium Co., Petitioner, Vs. CA And Makati Leasing & Finance Corporation, Respondents.

CEBU CONTRACTORS CONSORTIUM CO., petitioner, vs. COURT OF APPEALS and MAKATI LEASING & FINANCE CORPORATION, respondents.

G.R. No. 107199 | 2003-07-22

D E C I S I O N

AZCUNA, J.:

The instant Petition for Review on Certiorari stems from a complaint for collection of a sum of money with replevin[1] filed by respondent Makati Leasing and Finance Corporation (MLFC) against petitioner Cebu Contractors Consortium Company (CCCC) before the Regional Trial Court of Makati.[2]

MLFC alleges that on August 25, 1976 a lease agreement[3] relating to various equipment was entered into between MLFC, as lessor, and CCCC, as lessee. The terms and conditions of the lease were defined in said agreement and in two lease schedules of payment.[4] To secure the lease rentals, a chattel mortgage, and a...