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CORPORATION
v.
IAC & THE EDWARD J. NELL CO.
Casville
Enterprises
(Liberato
Casals)
Negotiation on manner
of payment
Cash payment
Casville has a credit
line with Equitable
Promised to open a
domestic letter of credit
Demanded delivery of 1
garret skidder to CDO
2 Garret
Skidders/
Bulldozers at
PhP 970,000
The Edward J.
Nell Co.
Casville letter
informing Nell Co. that:
Casville issued
2 postdated
checks
(P300,000) as
partial payment
and
reimbursements
1st check
First National City Bank
August 05,
76
P 400.000
Step 2:
Equitable
replied and
said ready to
open if follow
its5:
terms
&
Step
Casville
conditions
ISSUED
3 post
dated checks
for Nell Co.
Step 3: Casville
sent
Equitables
terms &
conditions to
Co. Co.
StepNell
4: Nell
agreed again
to ADVANCE
lacking sum to
Equitable
2nd check
First National City Bank
August 05,
76
P 427.300
Covering Letter:
A/C of Casville for Marginal deposit and payment of balance on
Estrada property as security for opening L/C in favor of Edward
Nell Co.
Casals
ISSUE
WON Equitable Banking
Corporation is liable to Edward J.
Nell Co. for the value of the 2nd
check?
Article 1377
Civil Code
The interpretation of obscure
words or stipulations in a
contract shall not favor the
party who caused the
obscurity.
Thank you.