AgencyDPFebruary32014

If it had made an actual loanof p292000 at the time

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Unformatted text preview: in the business of Smith, Bell & Co.; that after he had received it he entered upon the books of Smith, Bell & Co. at Dagupan a credit in favor of the plaintiff of 4,200 pesos, less 5 per cent commission for collection, of which commission Smith, Bell & Co. received the benefit. He testified that all these transactions took place prior to when he left the employ of Smith, Bell & Co. He also testified that he had seen the books of Smith, Bell & Co.; that they were in court in an action commenced in regard to this same amount in 1896 or 1897, and that the books which were then produced in court by Smith, Bell & Co. contained an entry or entries of the receipt by Smith, Bell & Co. of this 4,200 pesos. If this testimony is to be believed there is no doubt as to the liability of Smith, Bell & Co. to repay to the plaintiff the sum of 4,200 pesos, less the commission of 5 per cent. 59 TC: The court held Smith, Bell & Co., responsible for this amount was clearly right. The question as to whether Rickards was authorized by Smith, Bell & Co. to receive deposits of this character for third persons is a matter of no consequence. The identical money which he received from the plaintiff was by him turned over to Smith, Bell & Co., with notice that it was the money of the plaintiff, and they now have it in their possession, and are therefore bound to pay it to her. ISSUE: Can the positive testimony of Rickards, which has been set forth above, be overcome by the testimony of the agent of the bank in view of the fact that Smith, Bell & Co. had it in their power to demonstrate the falsity of the testimony of Rickards by producing their books? CA: TC decision reversed. No reason appears in the case why the books were not produced. The trial was had in Manila, where is located the main office of Smith, Bell & Co. Rickards gave his testimony at the opening of the trial. If it were false its falsity could have been easily proved by the introduction of these books, and their production was more imperatively demanded considering the statement of Rickards that he had seen them, and that th...
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