- Petitioner
- Ramon Aboitiz
- Respondent
- Oquiñena & Co.
- Citation
- G.R. No. 12407
- Court
- Supreme Court En Banc
- Division
- En Banc
- Ponente
- Avanceña, J.
- Decided
- July 22, 1919
Summary
Estate administrator sought recovery of P9,011.58 life insurance proceeds deposited with commercial company and P5,000 from continuing business relations. The Supreme Court affirmed the trial court's judgment with modifications, applying Civil Code and Commerce Code provisions on deposits without fixed terms. The court confirmed P2,312.79 (not P5,000) commercial balance based on expert examination of company books. Significantly, the court modified liability from the dissolved original company to its successor, Oquiñena & Co. (Ltd.), which had voluntarily assumed all obligations and assets. This case establishes principles on deposit withdrawals without fixed terms and successor company liability for predecessor obligations in corporate dissolution and reorganization.