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People's Aircargo and Warehousing Co. Inc. vs. CA, et al.

PEOPLE'S AIRCARGO AND WAREHOUSING CO. INC., petitioner, vs. COURT OF APPEALS and STEFANI SA?O, respondents.

G.R. No. 117847 | 1998-10-07

D E C I S I O N


PANGANIBAN, J.:

Contracts entered into by a corporate president without express prior board approval bind the corporation, when such officer's apparent authority is established and when these contracts are ratified by the corporation.

The Case

This principle is stressed by the Court in rejecting the Petition for Review of the February 28, 1994 Decision and the October 28, 1994 Resolution of the Court of Appeals in CA-GR CV No. 30670.

In a collection case1 [Docketed as Civil Case No. 5550-P.] filed by Stefani Saño against People's Aircargo and Warehousing Co., Inc., the Regional Trial Court (RTC) of Pasay City,...