CIVIL PROCEDURE | Metrobank v. Ley Construction & Devt. Corp G.R. No. 185590, DECEMBER 3, 2014

Metrobank v. Ley Construction & Devt. Corp G.R. No. 185590, DECEMBER 3, 2014 FACTS: FACTS: Metropolitan Bank and Trust Company (the Bank) filed a complaint against Ley Construction and Development Corporation (LCDC) and the spouses Manuel and Janet Ley (the spouses Ley) for the recovery of a sum of money and damages. The Bank alleged that LCDC, through the oral representations of the spouses Ley, applied for the opening of a Letter of Credit with the Bank for the importation of Iraqi cement. The Bank issued the Letter of Credit in favor of the supplier-beneficiary Global Enterprises Limited. However, the cement never arrived in the Philippines, and LCDC failed to pay its obligation under the Letter of Credit. The Bank claimed that the spouses Ley, as sureties, were also liable for LCDC's obligations. During the trial, the Bank presented Fenelito Cabrera, the Head of the Foreign Department of the Bank's Dasmariñas Branch, as its only witness. The trial court found that Cabr...