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Associated Development Corp. vs. Reparations Commission

ASSOCIATED DEVELOPMENT CORPORATION, plaintiff-appellant, vs. THE REPARATIONS COMMISSION, defendant-appellee. Antonio Rodriguez Bautista and Alberto Jiimenez, Nardy P. Diploma & Manuel S. Tanogbanua, Jr. for plaintiff-appellant. Panfilo M. Manguera & Associates for defendant-appellee.

G.R. No. L-29555 | 1982-05-22

D E C I S I O N


FERNANDO, J.:

In this appeal from a decision of the Court of First Instance, there is no dispute as to defendant Reparations Commission, granting to plaintiff Associated Development Corporation, now appellant, its application for reparation goods, iron works equipment, [1] contracts to purchase being duly entered into in June and December of 1961. The Reparations Commission, pursuant to a directive of the President of March 23, 1963, required that payment must be at the free market rate, instead of the conversion rate of P2.00 to $1.00. Appellant was so informed on May 14, 1963. On the same day it replied to the...