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Land Bank vs Monet's Export And Manufacturing Corp, et al

LAND BANK OF THE PHILIPPINES, Petitioner, versus MONET'S EXPORT AND MANUFACTURING CORPORATION, SPOUSES VICENTE V. TAGLE, SR. and MA. CONSUELO G. TAGLE, Respondents.

G.R. No. 161865 | 2005-03-10

D E C I S I O N 

YNARES-SANTIAGO, J.: 

      This is a petition for review on certiorari under Rule 45 of the Rules of Court assailing the October 9, 2003 Decision[1] of the Court of Appeals[2] in CA-G.R. CV No. 57436, and its January 20, 2004 Resolution[3] denying petitioner's motion for reconsideration. 

The factual antecedents are as follows: 

     On June 25, 1981, petitioner, Land Bank of the Philippines (Land Bank), and Monet's Export and Manufacturing Corporation (Monet) executed an Export Packing Credit Line Agreement[4] under which Monet was given a credit line in the amount of...