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Loreta Serrano Vs. Court Of Appeals

LORETA SERRANO, petitioner, vs. COURT OF APPEALS and LONG LIFE PAWNSHOP, INC., respondents. Cecilio D. Ignacio for petitioner. Hildawa & Gomez for private respondent.

G.R. No. 45125 | 1991-04-22

R E S O L U T I O N


FELICIANO, J.:

Sometime in early March 1968, petitioner Loreta Serrano bought some pieces of jewelry for P48,500.00 from Niceta Ribaya. On 21 March 1968, petitioner, then in need of money, instructed her private secretary, Josefine Rocco, to pawn the jewelry. Josefina Rocco went to private respondent Long Life Pawnshop, Inc. ("Long Life"), pledged the jewelry for P22,000.00 with its principal owner and General Manager, Yu An Kiong, and then absconded with said amount and the pawn ticket. The pawnshop ticket issued to Josefina Rocco stipulated that it was redeemable "on presentation by the bearer."

Three (3) months...