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Imelda A. Nakpil vs. Carlos J. Valdes

IMELDA A. NAKPIL, complainant, vs. ATTY. CARLOS J. VALDES, respondent.

A.C. No. 2040 | 1998-03-04

D E C I S I O N

PUNO, J:

The friendship of JOSE NAKPIL and respondent CARLOS J. VALDES dates back to the '50s during their school days in De La Salle and the Philippine Law School. Their closeness extended to their families and respondent became the business consultant, lawyer and accountant of the Nakpils.

In 1965, Jose Nakpil became interested in purchasing a summer residence in Moran Street, Baguio City. 1 For lack of funds, he requested respondent to purchase the Moran property for him. They agreed that respondent would keep the property in trust for the Nakpils until the latter could buy it back. Pursuant to their agreement,...