This case has been cited 1 times or more.
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2004-10-19 |
CALLEJO, SR., J. |
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| On June 11, 1987, the NMI sold and delivered to the Victorias Milling Company, Inc. (VMCI), in Victorias, Negros Occidental, 77,500 pieces of empty white bags for the price of P565,750.00. NMI issued Charge Invoice No. 0809[2] dated June 11, 1987 to VMCI covering said sale. On June 18, 1987, VMCI purchased 100,000 pieces of empty white bags from NMI for P730,000.00 for which NMI issued Charge Invoice No. 0810.[3] On June 25, 1987, VMCI again purchased 28,000 pieces of empty white bags from NMI for the price of P204,400.00 and the latter issued Charge Invoice No. 0811[4] dated June 25, 1987. Inayment of said purchases from NMI, VMCI drew and issued two Bank of the Philippine Islands (BPI) Checks: Check No. 068706 dated August 3, 1987 in the amount of P565,750.00[5] and Check No. 068993 dated August 19, 1987 in the amount of P934,400.00.[6] Both checks were payable to the order of NMI. | |||||