AgencyDPFebruary32014

21 petitionisdenied dissenting no ruled of law is

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Unformatted text preview: ● ∙ Pursuant to such contract of agency, the agent has obligations to his principal. ∙ The obligation of the defendant to deliver the funds in question to his employers is determined by the provision of article 1720 of the Civil Code, which is as follows: o Every agent is bound to give an account of his transactions and to pay to the principal all that he may have received by virtue of the agency, even though what has been received is not owed to the principal. ∙ Nothing to the contrary appearing in the record, and the existence of the agency and the collection of the funds on account of the principal having been established, the obligation to deliver these funds to the principal must be held to have been imposed upon the agent by virtue of the contract of agency. DECISION: KIENE is GUILTY, and SC imposed penalty of one year eight months and twenty­one days' imprisonment (presidio correccional), together with the accessory penalties prescribed by law, and the payment to the agents of the China Mutual Life Insurance Company, Limited, of the sum of 1,550.30 pesos, Philippine currency, with subsidiary imprisonment in case of insolvency, and the costs in both instances Ojinaga v. Estate of Perez, 9 Phil 185 (1907) SANA Domingo Perez died, leaving as surviving heirs ten children. The administration of the estate was assumed by Tomas R. Perez, an heir. A partition of such estate was had, with the six children of the first marriage receiving 31, 608.90 each and the four children of the second marriage 17,241.24 each. Two children of the first marriage withdrew their participation. The remaining children contributed their shares to the community. Tomas Perez acted as guardian for all the person interested except Eladio Ojinaga, widow of one of the Perez children, who he acted for as an agent. When two of the children came of age, Tomas filed an account of his administration, in its accounting he showed the net profits of the business for the period of 1890­1893 as 8,084 pesos. The two childr...
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This document was uploaded on 03/11/2014.

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