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China Insurance vs. Chong

CHINA INSURANCE AND SURETY COMPANY, INC., plaintiff-appellant, vs. Y. CHONG, SY YAM and PEDRO MARQUEZ LIM, defendants-appellees.

G.R. No. 45530 | 1939-05-25

D E C I S I O N


IMPERIAL, J:

This is an appeal taken by the plaintiff from the decision of the Court of First Instance of Manila rendered in the case, dismissing the complaint, with costs.

The plaintiff, which is a corporation organized under existing laws and engaged in the bond business, commenced the action against the defendants to recover the premiums on the counterbond which they executed, corresponding to the period from April 2, 1935 until April 2, 1937, amounting to P480, plus stipulated interest at 12 per cent per annum. The defendants did not deny the existence and authenticity of the counterbond signed by them, but alleged...