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IF & BC vs. Imperal

INSULAR FINANCING & BUSINESS CORPORATION, plaintiff-appellee, vs. BENEDICTO A. IMPERIAL, defendant-appellant.

G.R. No. 48774 | 1943-08-31

D E C I S I O N

OZAETA, J:

Appeal from a judgment of the Court of First Instance of Manila upon a stipulation of facts.

This case is an aftermath of the mining-stock-speculation craze that swept the country in the latter part of the thirties. On March 16, 1937, appellant agreed to buy from appellee 5,000 shares of stock of the Suyoc Consolidated Mining Co. at P0.403836 per share or a total of P2,019.18, to be delivered and paid for on or about June 14, 1937 (exhibit A). Two days later, or on March 18, the same parties agreed to the purchase and sale of 20,000 shares of stock of the Santa Rosa Mining Co. at P0.067357 per share, or a...