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Bank of Commerce vs. Heirs of Dela Cruz

BANK OF COMMERCE, PETITIONER, VS. HEIRS OF RODOLFO DELA CRUZ, RESPONDENT.

G.R. No. 211519 | 2017-08-14

D E C I S I O N
 
BERSAMIN, J.:
 
The terms of merger between two corporations, when determinative of their joint or respective liabilities towards third parties, cannot be assumed. The party alleging the corporations' joint liabilities should establish the allegation. Otherwise, the liabilities of each of them shall be separate.
 
The Case

We review the decision promulgated on August 29, 2013,[1] whereby the Court of Appeals (CA) dismissed the appeal of the petitioner and affirmed the judgment rendered on April 28, 2010 in Civil Case No. C-19332 by the Regional Trial Court (RTC), Branch 13, in Caloocan City adjudging the...