Timeline (G.R. No. 243296)

1. Purchase Agreement
   On November 29, 1951, Vicente Bareng purchased cinematographic equipment from Patrocinio Alegria for P15,000, paying P10,000 upfront.

2. Promissory Notes
   Bareng signed four promissory notes for the remaining balance, with due dates set for December 15, 1951, February 15, 1952, March 15, 1952, and April 1952.

3. First Payment Made
   Bareng paid the first promissory note due on December 15, 1951.

4. Claim of Co-Ownership
   On February 12, 1952, Agustin Ruiz informed Bareng that he was a co-owner of the equipment.

5. Suspension of Payments
   Following Ruiz's claim, Bareng received a telegram from Ruiz instructing him to suspend payments to Alegria.

6. Partial Payment on Second Note
   Bareng paid only P400 of the second promissory note due on February 15, 1952, and refused further payments.

7. Lawsuit Filed by Ruiz
   On March 31, 1952, Ruiz filed Civil Case No. 1527 against Alegria and Bareng for his share in the equipment's price.

8. Compromise Agreement
   On May 21, 1952, Alegria and Ruiz reached a compromise, recognizing Ruiz as a co-owner and agreeing on payment terms.

9. Alegria's Lawsuit Against Bareng
   On May 28, 1952, Alegria sued Bareng for P13,500, claiming it was the unpaid balance for the equipment.

10. Bareng's Response
    Bareng answered the complaint, admitting P3,600 was unpaid and sought rescission of t...continue reading