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The Supreme Court ruled that the agreement between Liwanag, Tagbilaran, and Rosales was not a partnership but a loan. Rosales had given Liwanag and Tagbilaran cash advances totaling 633,650 pesos to buy and sell cigarettes, with the understanding they would return the money if unsold but pay Rosales a 40% commission if sold. However, Liwanag and Tagbilaran misappropriated the money. The Court held this transaction was a loan, not a partnership, and by misappropriating the money Liwanag and Tagbilaran were g

Author

Lyle Bucol

Language

EN