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Cebu Mactan Members Center, Inc. Vs. Masahiro Tsukahara

CEBU MACTAN MEMBERS CENTER, INC., Petitioner, versus MASAHIRO TSUKAHARA, Respondent.

G.R. No. 159624 | 2009-07-17

D E C I S I O N


CARPIO, J.:

The Case

This is a petition for review[1] of the Court of Appeals' Decision[2] dated 29 July 2003 in CA-G.R. CV No. 68321. The Court of Appeals affirmed the Decision[3] dated 24 September 1999 of the Regional Trial Court of Cebu City, Branch 58 (RTC).

The Antecedent Facts

In February 1994, petitioner Cebu Mactan Members Center, Inc. (CMMCI), through Mitsumasa Sugimoto (Sugimoto), the President and Chairman of the Board of Directors of CMMCI, obtained a loan amounting to P6,500,000 from respondent Masahiro Tsukahara. As payment for the loan, CMMCI issued seven postdated checks of CMMCI payable to Tsukahara,...