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National Rice & Corn Corporation Vs. Juan Antonio, Et Al.112 Phil. 536

NATIONAL RICE & CORN CORPORATION (NARIC), plaintiff-appellant, vs. JUAN ANTONIO, defendant-appellee, and THE CAPITAL INSURANCE & SURETY CO., INC., defendant-appellant.

G.R. No. L-11926 | 1961-06-30

D E C I S I O N 


DIZON, J.: 

On December 29, 1951 an application made in the name of Juan Antonio to purchase empty sacks payable within 120 days was approved by the National Rice & Corn Corporation - hereinafter referred to as Naric - on condition that the purchaser file a surety bond in the sum of P2,000.00. Said bond was signed on the same date by the Cabanatuan agency of the Capital Insurance & Surety Co., Inc. - hereinafter referred to as the Surety - in the sum of P2,000.00, which was the price of the empty sacks, but it was acknowledged only on January 8, 1952 before Notary Public Mamerto Macapagal. On the same date...