G.R. Nos. 21000, 21002-21004, and 21006,. December 20, 1924
IN THE MATTER OF THE INVOLUNTARY INSOLVENCY OF UMBERTO DE POLI. BANK OF THE PHILIPPINE ISLANDS ET AL., CLAIMANTS AND APPELLEES, VS. J. R. HERRIDGE, ASSIGNEE OF THE INSOLVENT EST…
Decisions / Signed Resolutions December 20, 1924 OSTRAND, J.:
OSTRAND, J.:
1. Written Instruments; Construction.—Whenever possible, writings must be so
construed as to give effect to their general intent and so as to avoid
absurdities.
2. Warehouse Receipts; Construction.—As instruments of credit, warehouse
receipts play an important role in modern commerce and the present day tendency
of the courts is towards a liberal construction of the law in favor of bona fide
holders of such receipts.
Street, Malcolm, Avanceña, Villmor, and Romualdez, JJ.,
concur.