G.R. No. L-11827 - Gaite vs. Fonacier

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G.R. No. L-11827: Gaite vs. Fonacier

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Title Supreme Court: Gaite vs. Fonacier

Case: G.R. No. L-11827

Decision Date: Jul 31, 1961

Fonacier assigned Gaite mining rights; Gaite developed claims, extracted ore, and transferred rights back for P75,000. Fonacier failed to pay P65,000 balance after bond expired, leading to a lawsuit. Court ruled payment was due, no short-delivery of ore.

surety bond

iron ore

conditional obligation

Standard 20 min

1.2x of typical case length

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