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Luzon Brokerage Corp. vs. Court of Appeals,etal.

LUZON BROKERAGE CORPORATION, petitioner, vs. COURT OF APPEALS and MANILA BANKING CORPORATION, respondents.

G.R. No. 43619 | 1989-08-16

D E C I S I O N


NARVASA, J.:

The proceedings at bar had their inception in a contract entitled "Field Warehouse Storage Agreement" executed by Luzon Brokerage Corporation and Pacific Copra Export Co., Inc. 1 Under this contract, Luzon Brokerage Corporation (hereafter simply LUZON) undertook to operate field warehouses in Davao City and Mati, Davao, which were needed by Pacific Copra Export Co., Inc. (hereafter simply PACOCO) for the storage of copra. 2 In implementation of the agreement, PACOCO subsequently leased to LUZON two (2) warehouses under separate contracts denominated "Field Warehouse Leases," 3 one of the warehouses being...