Quezon College
G.R. No. L-5003
June 27, 1953
Paras, J.
•
•
•
•
Facts
Issue
Held
Ratio Decidendi
Facts
• Appellee - NAZARIO TRILLANA, administrator
• Appellant - QUEZON COLLEGE, INC., claimant
Facts
• Deceased Damasa Crisostomo sent a letter to defendant regarding her subscription to shares of capital stock in QC, Inc.
• Damasa Crisostomo died on October 26, 1948.
• As no payment appears to have been made on the subscription mentioned in the foregoing letter, the Quezon College, Inc. presented a claim before the Court of First Instance of Bulacan in her testate proceeding, for the collection of the sum of
P20,000, representing the value of the subscription to the capital stock of the Quezon College, Inc.
Facts
• This claim was opposed by the administrator of the estate, and the Court of First Instance of Bulacan, after hearing issued an order dismissing the claim of the Quezon College, Inc. on the ground that the subscription in question was neither registered in nor authorized by the Securities and Exchange
Commission.
• From this order, the Quezon College, Inc. has appealed. Facts
• It appears that the application sent by Damasa
Crisostomo to the Quezon College, Inc. was written on a general form indicating that an applicant will enclose an amount as initial payment and will pay the balance in accordance with law and the regulations of the College.
Facts
• On the other hand, in the letter actually sent by
Damasa Crisostomo, the latter (who requested that her subscription for 200 shares be entered) not only did not enclose any initial payment but stated that
"babayaran kong lahat pagkatapos na ako ay makapagpahuli ng isda."
The BOARD OF TRUSTEES
Quezon College
Manila
Letter
June 1, 1948
Gentlemen:
Please enter my subscription to dalawang daan (200) shares of your capital stock with a par value of P100 each. Enclosed you will find (Babayaran kong lahat pagkatapos na