This case has been cited 2 times or more.
|
2015-08-17 |
LEONARDO-DE CASTRO, J. |
||||
| Upon scrutiny, Quintos's fundamental allegations - particularly, that it was Romualdez who negotiated with NIDC and DBP for the grant of the loans; that Quintos signed the loan and collateral agreements because of the intimidation exerted upon his person by Romualdez; that despite being warned by Quintos, NIDC and DBP still released the proceeds of the loans to Romualdez; that Romualdez did not turnover to or infuse the loan proceeds into GCFI but used the entire amount for personal purposes; that even former First Lady Imelda and Gen. Ver confronted and threatened Quintos; that there were no actual stockholders' and board of directors' meetings held to approve the loans; and that Quintos was only forced and intimidated by Romualdez and Atty. De Joya into signing the Secretary's Certificates and other corporate documents on the supposed stockholders' and board of directors' meetings approving said loans long after the release of the loan proceeds - were essentially based on Quintos's own testimony. Quintos, however, is an interested party, not only was he a signatory to the loan and collateral documents, but he stands to benefit the most from the declaration of nullity of the loans and collateral contracts being the majority stockholder of GCFI and a surety for the loans. Uncorroborated testimony of an interested party should not be accepted hook, line, and sinker. It should be assessed with extreme care.[62] | |||||
|
2008-03-14 |
REYES, R.T., J. |
||||
| It is basic that only parties to a contract are bound by its terms. This is based on the principle of relativity of contracts which provides that contracts take effect only between the parties, their assigns and heirs.[41] It cannot favor or prejudice third persons. Applying this principle, only private respondents are bound by the terms of their agreement with respondent Bautista. Those who have signed similar contracts with their own agents/lawyers are bound by their own contracts. Res inter alios acta alteri nocere non debet - a third party may not be prejudiced by the act, declaration or omission of another.[42] | |||||