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REPUBLIC OF THE PHILIPPINES vs. PHILIPPINE RESOURCES DEVELOPMENT CORPORATION

1) Macario Apostol, president of Philippine Resources Development Corporation, delivered goods belonging to the corporation to the Bureau of Prisons to settle his personal debts without the knowledge or consent of the stockholders. 2) The corporation demanded the return of the goods from the Bureau of Prisons after they refused to return them. 3) The court ruled that Article 1458 of the Civil Code states the price does not need to be paid in money, but can be paid in an equivalent. Since the materials delivered were assessed and their price equivalent in money was determined, they could be considered as payment.

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57 views1 page

REPUBLIC OF THE PHILIPPINES vs. PHILIPPINE RESOURCES DEVELOPMENT CORPORATION

1) Macario Apostol, president of Philippine Resources Development Corporation, delivered goods belonging to the corporation to the Bureau of Prisons to settle his personal debts without the knowledge or consent of the stockholders. 2) The corporation demanded the return of the goods from the Bureau of Prisons after they refused to return them. 3) The court ruled that Article 1458 of the Civil Code states the price does not need to be paid in money, but can be paid in an equivalent. Since the materials delivered were assessed and their price equivalent in money was determined, they could be considered as payment.

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rhodz 88
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1.) REPUBLIC OF THE PHILIPPINES vs.

PHILIPPINE RESOURCES
DEVELOPMENT CORPORATION and the COURT OF APPEALS, 102 Phil. 960,
G.R. No. L-10141, January 31, 1958
By: Magdoza, Bregette U.

Facts:

The Bureau of Prisons instituted a complaint against Macario Apostol for the latter’s failure
to pay the unpaid balance for logs purchased. Apostol, who was then the president of the
respondent corporation, delivered goods belonging to the corporation and without the
knowledge or consent of the stockholders thereof, to the Bureau of Prisons in an attempt to
settle his personal debts with the latter entity. The corporation demanded the Bureau of
Prisons for the return of the goods. Upon the refusal of the Bureau, the corporation filed a
motion to intervene.

Issue:

Is the “price” limited only to be paid in money?

Ruling:

No. Article 1458 of the New Civil Code provides that the purchaser may pay “a price certain
in money or its equivalent,” which means that they meant of the price need not be in money.
In this case, the materials have been assessed and evaluated and their price equivalent in
terms of money have been determined and that said materials for whatever price they have
been assigned were considered as tokens of payment.

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