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The Board Of Liquidators vs. Maximo M. Kalaw, Et Al.

THE BOARD OF LIQUIDATORS 1 representing THE GOVERNMENT OF THE REPUBLIC OF THE PHILIPPINES, plaintiff-appellant, vs. HEIRS OF MAXIMO M. KALAW, 2 JUAN BOCAR, ESTATE OF THE DECEASED CASIMIRO GARCIA, 3 and LEONOR MOLL, defendants-appellees.

G.R. No. L-18805 | 1967-08-14

D E C I S I O N 


SANCHEZ, J.: 

The National Coconut Corporation (NACOCO, for short) was chartered as a non-profit governmental organization on May 7, 1940 by Commonwealth Act 518 avowedly for the protection, preservation and development of the coconut industry in the Philippines. On August 1, 1946, NACOCO's charter was amended [Republic Act 5] to grant that corporation the express power "to buy, sell, barter, export, and in any other manner deal in, coconut, copra, and dessicated coconut, as well as their by-products, and to act as agent, broker or commission merchant of the producers, dealers or merchants" thereof. The charter...