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Overseas Bank of Manila vs. Geraldez, et al

THE OVERSEAS BANK OF MANILA, petitioner-appellant, vs. HON. AMBROSIO M. GERALDEZ, Presiding Judge of Branch I, Court of First Instance of Manila, TEODOSIO VALENTON and ANDRES A. JUAN, respondents-appellees.

G.R. No. L-46541 | 1979-12-28

D E C I S I O N

AQUINO, J:

The Overseas Bank of Manila appealed under Republic Act No. 5440 from the orders of the Court of First Instance of Manila, dated January 4 and February 9, 1977, dismissing, on the ground of prescription, its complaint against Teodosio Valenton and Andres A. Juan for the recovery of the sum of one hundred fifty thousand pesos plus twelve percent interest per annum from February 17, 1966 and ten percent of the amount due as attorney's fees (Civil Case No. 105037).

The allegations in the complaint dated October 15, 1976, which were admitted hypothetically by Valenton and Juan, are that on February 16, 1966 they...