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JOSE PNCE DE LEON, PLAINTIFF AND APPELLANT, VS. SANTIAGO SYJUCO, INC., DEFENDANT AND APPELLANT, PHILIPPINE NATIONAL BANK, DEFENDANT AND APPELLEE.

JOSE PNCE DE LEON, PLAINTIFF AND APPELLANT, VS. SANTIAGO SYJUCO, INC., DEFENDANT AND APPELLANT, PHILIPPINE NATIONAL BANK, DEFENDANT AND APPELLEE.

G. R. No. 3316-Paras | 2010-10-26

DECISION
 
PARAS, C.J.:
 
The plaintiff obtained from, defendant Syjuco on May 5, 1944, a loan of P200,000 and on July 31, 1944, another loan of P16,000, payable "within one year from May 5, 1948." On November 15, 1944, the plaintiff offered to pay the entire indebtedness plus all the interest up to the date of maturity. Upon Syjuco's refusal to accept the tendered payment, the plaintiff deposited the amount with the clerk of the Court of First Instance of Manila and instituted the present action .to compel Syjuco to accept payment. The records of the case were destroyed during the war, but they were duly reconstituted...