Laws Applicable:
FACTS:
- Benita Quiogue de V. del Rosario (Mrs. del Rosario), owner of a bonded warehouse where Froilan Lopez, holder or 14 waehouse receipts and Elias Zamora had their copra deposited
- The warehouse recipts states an insurance of 1% their declared value which can be increase or decrease by giving 1 month's notice in writing
- Lopez paid the insurance to May 18, 1920, but not thereafter
- June 6, 1920: the warehouse was destroyed by fire. Only copra worth P49,985 was salvaged. At that time Lopez was still liable for the storage and insurance of P315.90
- Mrs. Del Rosario submitted the insurance with the arbitrators and seems to have satisfied all of the persons who had copra stored in her warehouse, including the stockholders in the Compañia Coprera de Tayabas (whose stock she took over), with the exception of Froilan Lopez
- Ineffectual attempts by Mrs. Del Rosario to effect a compromise with Lopez first for P71,994, later raised to P72,724, and finally reduced to P17,000, were made. But Lopez stubbornly contended, or, at least, his attorney contended for him, that he should receive not a centavo less than P88,595.43 (from originally P107,990.40)
ISSUE: W/N Mrs. Del Rosario should be held liable to Lopez even if he has not paid the insurance at the time of the fire
HELD: YES. entitled to P88,595.43 minus P7,185.88, his share of the expenses, minus P315.90, due for insurance and storage, or approximately a net amount of P81,093.65, with legal interest
