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Bayla, Et. Al. vs. Silang Traffic Co., Inc.

SOFRONIO T. BAYLA, ET AL., petitioners, vs. SILANG TRAFFIC CO., INC., respondent. SILANG TRAFFIC CO., INC. petitioner, vs. SOFRONIO BAYLA, ET AL., respondents.

G.R. Nos. 48195 and 48196 | 1942-05-01

D E C I S I O N

OZAETA, J:

Petitioners in G. R. No. 48195 instituted this action in the Court of First Instance of Cavite against the respondent Silang Traffic Co., Inc. (cross-petitioner in G. R. No. 48196), to recover certain sums of money which they had paid severally to the corporation on account of shares of stock they individually agreed to take and pay for under certain specified terms and conditions, of which the following, referring to the petitioner Josefa Naval, is typical:

"AGREEMENT FOR INSTALLMENT SALE OF
SHARES IN THE SILANG TRAFFIC
COMPANY, INC.,'

"Silang, Cavite, P. I.

"THIS AGREEMENT, made and entered into between...