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Paramount Insurance Corporation Vs. Spouses Yves and Maria Teresa Remonduelaz

PARAMOUNT INSURANCE CORPORATION, Petitioner, versus SPOUSES YVES and MARIA TERESA REMONDEULAZ, Respondents.

G.R. No. 173773 | 2012-11-28

THIRD DIVISION

DECISION

PERALTA, J.: 

Before us is a Petition for Review on Certiorari under Rule 45 of the Rules of Court seeking the reversal and setting aside of the Decision1 dated April 12, 2005  and Resolution2 dated July 20,  2006 of the Court of Appeals in CA-G.R. CV No. 61490.

The undisputed facts follow.

On May 26, 1994, respondents insured with petitioner their 1994 Toyota Corolla sedan under a comprehensive motor vehicle insurance policy for one year.  

During the effectivity of said insurance, respondents' car was unlawfully taken. Hence, they immediately reported the...