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What is Iron Ore Sale Payment Dispute about?

1. The Supreme Court affirmed the decision of the lower court regarding a dispute over the payment of a balance of 65,000 pesos for iron ore. 2. The lower court correctly held that the obligation to pay was subject to a term, not a suspensive condition, and the term expired in December 1955 when the appellant failed to renew the surety bond or replace it with equivalent security. 3. Failure to renew or replace the surety bond impaired the security given to the creditor, causing the appellant to lose the

Author

Thirdy Demonteverde

Language

EN