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Viuda de Azaola vs. O'farrel

ROSARIO GONZALEZ CASTRO VIUDA DE AZAOLA, plaintiff-appellant, vs. GASTON O'FARRELL, defendant-appellee.

G.R. No. 45433 | 1939-05-12

D E C I S I O N


IMPERIAL, J:

On May 19, 1923, the defendant purchased from the Philippine National Bank eight vessels for P300,000, paying P50,000 on account and the balance in semestral installment of P25,000 each, with interest at 7 per cent per annum from the 11th of the said month. In the deed executed for this purpose, the defendant undertook to give an additional security acceptable to the bank to guarantee the unpaid price. In compliance with this promise, the plaintiff, on July 7 1923, executed a bond in favor of the Philippine National Bank wherein she guaranteed the payment of P125,000, being a part of the unpaid price of the...