50. Lim vs Kou Co Ping.docx - INDEPENDENT CIVIL ACTION 50 Lim vs Kou Co Ping GR No 175256 Facts FR Cement Corporation(FRCC issued several withdrawal

50. Lim vs Kou Co Ping.docx - INDEPENDENT CIVIL ACTION 50...

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INDEPENDENT CIVIL ACTION 50. Lim vs. Kou Co Ping, GR No. 175256, August 23, 2012 Facts: FR Cement Corporation (FRCC) issued several withdrawal authorities 1 for the account of cement dealers and traders, Fil-Cement and Tigerbilt (FCCT). FCCT then sold the withdrawal authorities covering 50,000 bags of cement to respondent Co for the amount of P3.15 million or P63.00 per bag. Co then sold the same withdrawal authorities to petitioner Lily Lim for the alleged amount of P3.2 million or P64.00 per bag. Lim, using the withdrawal authorities, withdrew 2,800 bags of cement from FRCC. He then sold some of the withdrawal authorities covering 10,000 bags back to respondent Co. Sometime within the same year, FRCC no longer allowed Lim to withdraw the remaining 37,200 bags covered by the withdrawal authorities. According to Co and the manager of FCCT, the plant implemented a price increase and would only release the goods once Lim paid for the price difference or agreed to receive a lesser quantity of cement. Lim
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