AgencyDPFebruary32014

Lost all its stocks there and could

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: to the petroleum 10 First Counterclaim: Petition was made that Gutierrez Hermanos be sentenced to pay it the sum of P13,894.60, as the amount of an overcharge of 3 per cent in interest collected from defendant, in a charge of 8 per cent interest per annum on a private debt of P47,649 drawing 5 per cent interest per annum, which latter amount Juan T. Molleda owed the firm of Gutierrez Hermanos and payment for which was assumed by Oria Hermanos & Co. upon its organization into a mercantile firm in May, 1900. SC: The reasons, set forth in the judgment appealed from and based on documentary evidence, are so clear and conclusive that they could not be rejected by defendant, nor invalidated at trial by other evidence in rebuttal. Consequently, we are constrained to admit them as decisive of the point in controversy and as duly showing that the interest stipulated on the amount which Juan T. Molleda owed Gutierrez Hermanos and which was transferred to Oria Hermanos & Co. is 8 per cent and not 5 per cent as defendant claims. Therefore the sum of P13,894.60 claimed cannot be recovered, and it is held that the finding made by the trial judge in respect to the first counterclaim filed by defendant is in accord with the law and the evidence. The record shows no proof of the existence of any of the vices which, according to law, might invalidate the consent given by defendant to the collection from it of the interest of 8 per cent, which must be that stipulated, nor was such a vice alleged by Oria Hermanos & Co." Moreover, against this finding in plaintiff’s favor no error whatever has been alleged by defendant. ­­ ABSOLVED Second Counterclaim: Oria alleged that, on April 18, 1900, its predecessor had ordered its consignee in Manila, Gutierrez Hermanos, to insure against all war risks the stocks of hemp and merchandise which the said firm possessed in the pueblo of Laoang, for P35,000, and likewise those it had in Catubig, for P32,000; that Gutierrez Hermanos did not comply with the said order, only insuring the stocks in Laoang for P67,000, leaving those of Catubig totally unprotecte...
View Full Document

This document was uploaded on 03/11/2014.

Ask a homework question - tutors are online