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This document summarizes a Supreme Court case from 1967 regarding contracts entered into by the National Coconut Corporation (NACOCO) during a period of typhoons that damaged coconut crops. The corporation sought to recover losses from the general manager and board members for approving contracts without board approval. The court found that based on past practice, the general manager had implied authority to enter contracts on behalf of the corporation in the ordinary course of business without prior board

Author

Rfs Singson

Language

EN