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J. Antonio Araneta vs. Hongkong & Shanghai Corp. 088 Phil 576

J. ANTONIO ARANETA, plaintiff and appellant, vs. HONGKONG & SHANGHAI BANKING CORPORATION, defendant and appellee.

G.R. No. L-3225 | 1951-04-27

D E C I S I O N


PARAS, C.J.:

The plaintiff-appellant has adopted the following statement of facts contained in the appealed decision: "On May 25, 1937, the plaintiff executed in favor of the defendant bank a letter of hypothecation by which the former obtained from the latter a credit by way of overdraft account in an amount not exceeding P18,000. As security for the repayment of whatever indebtedness might be incurred by the plaintiff, and in accordance with said letter of hypothecation, he delivered to the defendant bank by way of pledge the certificates of stock listed in the amended complaint. As of January 1, 1942, before the...