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Maritime Co. of the Phil. Vs. Court of Appeals etal

MARITIME COMPANY OF THE PHILIPPINES, petitioner, vs. COURT OF APPEALS and RIZAL SURETY & INSURANCE CO., respondents.

G.R. No. 47004 | 1989-03-08

D E C I S I O N


NARVASA, J.:

In the Court of First Instance of Manila, Rizal Surety & Insurance Co. (hereafter, simply Rizal Surety) sued the National Development Company (NDC) and Maritime Co. of the Philippines (hereafter simply Maritime Co.) for the recovery of a sum of money paid by it as insurer for the value of goods lost in transit on board vessel known as the SS Doña Nati. 1 After due proceedings and trial, the complainant was "dismissed with costs against plaintiff." 2 The Trial Court's judgment was founded upon the following findings and conclusions, to wit:

1. Rizal Surety "was the insurer of 800 packages of PVC...