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Filipinas Life Assurance Co. (now Ayala Life Assurance, Inc.) vs. Clemente Pedrosa, Teresita Pedrosa and Jennifer Palacio concerns investments made by Teresita Pedrosa and Jennifer Palacio based on representations made by Renato Valle, an agent of Filipinas Life. Pedrosa and Palacio invested a total of P47,000 and P49,550, respectively, with Valle. When they later tried to withdraw their investments, Filipinas Life refused to return the money. The court ruled that Filipinas Life is jointly and severally lia

Author

Jheanniver Nablo-Peña

Language

EN