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FGU Insurance Corp. vs. Spouses Roxas

FGU INSURANCE CORPORATION, PETITIONER, V. SPOUSES FLORO ROXAS AND EUFEMIA ROXAS, RESPONDENTS. SPOUSES FLORO ROXAS AND EUFEMIA ROXAS, PETITIONERS, V. ROSENDO P. DOMINGUEZ, JR., PHILIPPINE TRUST COMPANY, AND FGU INSURANCE CORPORATION, RESPONDENTS.

G.R. No. 189526 and G.R. No. 189656 | 2017-08-09

D E C I S I O N
 
LEONEN, J.:
 
The liability of a surety is determined strictly in accordance with the actual terms of the performance bond it issued. It may, however, set up compensation against the amount owed by the creditor to the principal.
 
The Petitions for Review in G.R. Nos. 189526[1] and 189656[2] seek to reverse and set aside the May 26, 2009 Decision[3] and the September 14, 2009 Resolution[4] of the Court of Appeals in CA-G.R. CV No. 30340. The May 26, 2009 Decision modified the Regional Trial Court September 4, 1990 Decision,[5] while the September 14, 2009 Resolution denied the motions for reconsideration...