AgencyDPFebruary32014

We consider that the abovedoctrine establishedis

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Unformatted text preview: he fault and negligence of the solicitor, the sentencing court, which denied the indemnity for losses and damages, has not committed a violation of the said articles of the code, because established losses are not involved herein. We consider that the above doctrine established is sufficient for the decision of this suit wherein established losses are not involved, and which has also been based on the unsubstantiated supposition of the injustice of the judgment in the former suit which became final owing to the expiration of the period allowed for appeal. BA Finance v. CA, 201 SCRA 157 (1991) CAMERINO DOCTRINE: Art. 1884. The agent is bound by his acceptance to carry out the agency, and is liable for the damages which, through his non­performance, the principal may suffer FACTS: Private respondents Manuel Cuady and Lilia Cuady obtained from Supercars, Inc. a credit of P39,574.80 for the purchase of a Ford Escort 1300, four­door sedan. Said obligation was evidenced by a promissory note. To secure the faithful and prompt compliance of the obligation under the said promissory note, the Cuady spouses constituted a chattel mortgage on the aforementioned motor vehicle. Supercars, Inc. later assigned the promissory note, together with the chattel mortgage, to B.A. Finance Corporation. The Cuadys paid a total of P36,730.15 to the B.A. Finance Corporation, thus leaving an unpaid balance of P2,344.65. In addition thereto, the Cuadys owe B.A. Finance Corporation P460.00 representing penalties or surcharges for tardy monthly installments. Parenthetically, the B.A. Finance Corporation, as the assignee of the mortgage lien obtained the renewal of the insurance coverage over the aforementioned motor vehicle, when the Cuadys failed to renew said insurance coverage themselves. Under the terms and conditions of the said insurance coverage, any loss under the policy shall be payable to the B.A. Finance Corporation. The subject vehicle figured in an accident and was badly damaged. The...
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This document was uploaded on 03/11/2014.

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