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    Standard Oil Co. of New York vs. Cho Siong

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    Shane Nuss Red
    Cho Siong became an agent for Standard Oil Co. and provided a P3,000 personal bond guaranteed by Ong Guan Can and P1,000 cash upfront. Cho Siong received P14,136.79 in petroleum from Standard Oil Co. and paid back P14,027.33, leaving a balance of P64.46. Cho Siong also assumed the P3,132.96 debt of the previous agent, Tong Kuan. The court held that Ong Guan Can as a surety did not have to answer for the total debt because excluding the previous agent's debt, Cho Siong only owed P64.46 and had already provided P1,

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    Standard Oil Co. of New York vs. Cho Siong

    Uploaded by

    Shane Nuss Red
    153 views1 page
    Cho Siong became an agent for Standard Oil Co. and provided a P3,000 personal bond guaranteed by Ong Guan Can and P1,000 cash upfront. Cho Siong received P14,136.79 in petroleum from Standard Oil Co. and paid back P14,027.33, leaving a balance of P64.46. Cho Siong also assumed the P3,132.96 debt of the previous agent, Tong Kuan. The court held that Ong Guan Can as a surety did not have to answer for the total debt because excluding the previous agent's debt, Cho Siong only owed P64.46 and had already provided P1,

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    case digest

    Original Title

    10. Standard Oil Co. of New York vs. Cho Siong

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    Cho Siong became an agent for Standard Oil Co. and provided a P3,000 personal bond guaranteed by Ong Guan Can and P1,000 cash upfront. Cho Siong received P14,136.79 in petroleum from Standard Oil Co. and paid back P14,027.33, leaving a balance of P64.46. Cho Siong also assumed the P3,132.96 debt of the previous agent, Tong Kuan. The court held that Ong Guan Can as a surety did not have to answer for the total debt because excluding the previous agent's debt, Cho Siong only owed P64.46 and had already provided P1,

    Copyright:

    © All Rights Reserved
    Download as DOC, PDF, TXT or read online from Scribd
    Download as doc, pdf, or txt
    153 views1 page

    Standard Oil Co. of New York vs. Cho Siong

    Uploaded by

    Shane Nuss Red
    Cho Siong became an agent for Standard Oil Co. and provided a P3,000 personal bond guaranteed by Ong Guan Can and P1,000 cash upfront. Cho Siong received P14,136.79 in petroleum from Standard Oil Co. and paid back P14,027.33, leaving a balance of P64.46. Cho Siong also assumed the P3,132.96 debt of the previous agent, Tong Kuan. The court held that Ong Guan Can as a surety did not have to answer for the total debt because excluding the previous agent's debt, Cho Siong only owed P64.46 and had already provided P1,

    Copyright:

    © All Rights Reserved
    Download as DOC, PDF, TXT or read online from Scribd
    Download as doc, pdf, or txt
    of 1

    Standard Oil Co. of New York vs.

    Cho Siong

    FACTS:

    On January 27, 1926, Cho Siong obliged himself to sell as agent plaintiffs petroleum
    products. He guaranteed the fulfillment of his obligation by giving P3,000 personal bond
    subscribed by Ong Guan Can, and with P1,000 in cash which he delivered to the
    plaintiff, with the right to apply it to the payment of any amount which he might become
    indebted. He also bound himself to pay such attorneys gees, costs, and other
    expenses, as might be occasioned the plaintiff should it be under the necessity of filing
    suit of any amount to which it might be entitled.
    On the same day, Cho Siong signed an instrument in favor of the plaintiff assuming
    responsibility for all accounts that might be owing to the plaintiff by former agent, Tong
    Kuan, and for all the latter might have in his possession at the time when the agency
    was transferred to Choi Siong.
    Cho Siong received from plaintiff P14,136.79 petroleum, and made good to plaintiff the
    total amount of P14,027.33, leaving P64.46 in favor of the plaintiff. Adding the
    P3,132.96 amount owed by Tong Kuan, Cho Siong has a total debt of P3,197.42.

    ISSUE:
    WON Ong Guan Can, as a surety should answer for the total amount of debt of Cho
    Siong.

    HELD:
    No. Excluding the amount of former agent, the only balance against Cho Siong is the
    sum of P64.46. Considering the P1,000 cash received by plaintiff from Cho Siong which
    may be applied to the payment of the sum owed by the latter, Cho Siong incurred no
    liability and he still has P935.54 in his favor. Consequently, Ong Guan Can, as surety
    does not answer for anything, the principal not having incurred any liability. He cannot
    be held for the debt of the former agent which Cho Siong assumed by virtue of another
    contract of which Ong Cuan Can was not aware. A contract of suretyship is to be strictly
    interpreted and is not to be extended beyond its term.

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