CD: Republic v. Philippine Resources Development Corporation

June 27, 2010 at 10:29 pm (1958, Case Digests) (, , )

REPUBLIC v. PHILIPPINE RESOURCES DEVELOPMENT CORPORATION
G.R. No. L-10141 January 31, 1958
Padilla, J.

Doctrine:
Article 1458 provides that the purchaser may pay “a price certain in money or its equivalent,” which means that the price need not be in money.

Facts:
The Bureau of Prisons instituted a complaint against Macario Apostol for the latter’s failure to pay the unpaid balance for logs purchased. Apostol, who was then the president of the respondent corporation, delivered goods belonging to the corporation and without the knowledge or consent of the stockholders thereof, to the Bureau of Prisons in an attempt to settle his personal debts with the latter entity. The corporation demanded the Bureau of Prisons for the return of the goods. Upon the refusal of the Bureau, the corporation filed a motion to intervene.

Issue:
Whether or not “price” is limited only to be paid in money

Held:
No. Article 1458 provides that the purchaser may pay “a price certain in money or its equivalent,” which means that they meant of the price need not be in money. In this case, the materials have been assessed and evaluated and their price equivalent in terms of money have been determined and that said materials for whatever price they have been assigned were considered as tokens of payment.

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