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Cargill, Inc. vs. Intra Strata Assurance Corp.

CARGILL, INC., Petitioner, versus INTRA STRATA ASSURANCE CORPORATION, Respondent

G.R. No. 168266 | 2010-03-15

Republic of the Philippines
SUPREME COURT
Manila
 
SECOND DIVISION
 
D E C I S I O N
 
CARPIO, J.:

The Case
 
This petition for review[1] assails the 26 May 2005 Decision[2] of the Court of Appeals in CA-G.R. CV No. 48447.
 
The Facts
 
Petitioner Cargill, Inc. (petitioner) is a corporation organized and existing under the laws of the State of Delaware, United States of America. Petitioner and Northern Mindanao Corporation (NMC) executed a contract dated 16 August 1989 whereby NMC agreed to sell to petitioner 20,000 to 24,000 metric tons of molasses, to be delivered from 1 January to 30 June 1990 at the price of $44 per...