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PNB vs. Phil. Trust Co.

PHILIPPINE NATIONAL BANK, plaintiff-appellant, vs. PHILIPPINE TRUST COMPANY and UNION INSURANCE SOCIETY OF CANTON, LTD., defendants-appellees.

G.R. No. 45427 | 1939-05-12

D E C I S I O N


DIAZ, J:

This case was commenced by the plaintiff bank in the Court of First Instance whence it came to compel the two defendant entities to pay it, jointly and severally, an indemnity of P250,000 with legal interest on said sum from November 4, 1939, for damages which it alleges to have sustained by reason of their violation of certain contracts into which the three had entered on September 1, 1924, and January 5, 1923. (Exhibits J and C.)

The defendants answered, denying the facts set forth in the complaint, excepting those relating to the personality of the three as corporations organized in conformity with law, and...