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ACDCADM vs. SM,Et. Al.

ASOCIACION COOPERATIVA DE CREDITO AGRICOLA DE MIAGAO, plaintiff-appellant, vs. SINFOROSA MONTECLARO ET AL., defendants-appellees.

G.R. No. 48279 | 1943-07-30

D E C I S I O N

OZAETA, J:

This action was commenced on November 30, 1939, to recover from the defendants the sum of P1,127.50 representing the principal of P500 and accrued interest on a promissory note executed by the defendant Sinforosa Monteclaro on May 12, 1925, payable one year thereafter. It is stipulated that said defendant has not paid any part of said amount. The trial court, sustaining the defense of prescription, absolved the defendants from the complaint, without any finding as to costs.

The plaintiff is a corporation organized under Act No. 2508 with a paid-up capital of P2,408. In 1919 the Philippine Legislature, by Act...